Tortoise Closed-End Funds

Tortoise
Pipeline & Energy Fund, Inc. (NYSE: TTP)


TTP invests primarily in North American pipeline companies that transport natural gas, natural gas liquids, crude oil and refined products, and to a lesser extent, in other energy infrastructure companies.

TTP is designed to provide:

  • Exposure to North American pipeline companies
  • Investment objective seeks high level of total return, emphasizing current distributions
  • One 1099 (no K-1s)
  • No Unrelated Business Taxable Income (UBTI)
  • IRA and tax-exempt suitability
Fund Data (unaudited) As of 8/31/2014 (unless noted)
Total Assets $503.0 million   Leverage (as percent of total assets) 17.8%
Market Price1 $35.18   Shares Outstanding 10.02 million
NAV2 $39.56   Management Fee3 0.95%
IPO Date 10/26/2011   Fiscal Year End November 30
IPO Price $25.00   CUSIP 89148H108
Distribution Frequency Quarterly      
  1. Reflects real-time price when available. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice.

  2. As of 9/12/2014.

  3. Annual rate applied to the fund's average monthly total assets (including any asset attributable to leverage and the aggregate liquidation preference of outstanding preferred stock) less the sum of accrued liabilities (other than debt entered into for purposes of leverage) ("Managed Assets"). Tortoise has agreed to a fee waiver of 0.15% of average monthly Managed Assets through 12/31/2014. The gross management fee is 1.10%.

TTP Details

As of 9/16/2014 (unless noted)

  • Market Price1
  • $35.18
  • NAV2
  • $39.56
  • Premium/Discount
  • -11.1%
  • Distribution Rate3
  • 4.6%
  1. Reflects real-time price when available. Quotes are delayed at least 15 minutes. All information provided "as is" for informational purposes only, not intended for trading purposes or advice.
  2. As of 9/12/2014.
  3. Annualized based on latest distribution received divided by current stock price. A portion of this distribution may be treated as return of capital for income tax purposes, although the ultimate characterization will not be made until after year-end.