Tortoise Pipeline & Energy Fund, Inc. (TTP) have announced that as of 30 November, the company’s unaudited total assets were approximately US$286 million and its unaudited net asset value was US$197.4 million, or US$19.71 per share.
The company
TTP is a non-diversified, closed-end management investment company that seeks to obtain a high level of total return with an emphasis on current distributions. TTP invests primarily in equity securities of pipeline companies that transport natural gas, natural gas liquids (NGLs), crude oil and refined products and, to a lesser extent, in other energy infrastructure companies.
Coverage ratio
The company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 401%, and its coverage ratio for preferred shares was 327%.
Set forth below is a summary of the company’s unaudited preliminary balance sheet at 30 November and a summary of its top 10 holdings.
Edited from source by Stephanie Roker