Tortoise Power & Energy Infrastructure Fund, Inc. Provides Unaudited Balance Sheet Information & Asset Coverage Ratio Update ...
2015年7月2日 - 6:10AM
ビジネスワイヤ(英語)
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ)
today announced that as of June 30, 2015, the company’s unaudited
total assets were approximately $242.2 million and its unaudited
net asset value was $191.9 million, or $27.60 per share.
As of June 30, 2015, the company was in compliance with its
asset coverage ratios under the Investment Company Act of 1940 (the
1940 Act). The company’s asset coverage ratio under the 1940 Act
with respect to senior securities representing indebtedness was 489
percent. For more information on calculation of coverage ratios,
please refer to the company’s most recent applicable
prospectus.
Set forth below is a summary of the company’s unaudited balance
sheet at June 30, 2015, and a summary of its top 10 holdings.
Unaudited balance sheet
(in Millions) Per
Share Investments $ 240.2 $34.55 Cash and Cash Equivalents
0.1 0.01 Other Assets
1.9 0.28 Total
Assets
242.2 34.84 Short-Term
Borrowings 49.3 7.09 Other Liabilities
1.0
0.15 Net Assets
$ 191.9
$27.60
6.95 million common shares currently outstanding.
Top 10 holdings (as of June 30, 2015)
Name
MarketValue(in Millions)
%
ofInvestmentSecurities(1)
Enbridge Energy Management, L.L.C. (equity) $ 13.1 5.5% Kinder
Morgan, Inc. (equity) 9.9 4.1% TerraForm Power, Inc. (equity) 9.4
3.9% CMS Energy Corp. (fixed income) 8.6 3.6% TransCanada Pipelines
Limited (fixed income) 7.1 2.9% Kinder Morgan, Inc. (fixed income)
6.9 2.9% WEC Energy Group (fixed income) 6.8 2.8% Midcontinent
Express Pipeline LLC (fixed income) 6.5 2.7% Source Gas LLC (fixed
income) 6.1 2.5% NRG Energy, Inc. (fixed income)
6.1
2.5% Total
$80.5 33.4%
(1) Percent of Investments and Cash Equivalents.
Estimated Tax Characterization
For tax purposes, we currently expect 80 to 100 percent of TPZ’s
distributions to be characterized as dividend income and capital
gain, with the remainder, if any, as return of capital. A final
determination of the characterization will be made in January
2016.
About Tortoise Power and Energy Infrastructure Fund,
Inc.
Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ)
invests in a portfolio of fixed income and equity securities issued
by power and energy infrastructure companies. TPZ’s objective is to
provide stockholders a high level of current income, with a
secondary objective of capital appreciation.
About Tortoise Capital Advisors, L.L.C.
Tortoise Capital Advisors, L.L.C. is an investment manager
specializing in energy investments. As of May 31, 2015, the adviser
had approximately $18.0 billion of assets under management in
NYSE-listed closed-end investment companies, open-end funds and
other accounts that span the entire energy value chain. For more
information, visit www.tortoiseadvisors.com.
Safe harbor statement
This press release shall not constitute an offer to sell or a
solicitation to buy, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer or
solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.
Forward-looking statement
This press release contains certain statements that may include
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. All statements, other than statements of
historical fact, included herein are "forward-looking statements."
Although the company and Tortoise Capital Advisors believe that the
expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties,
and these expectations may prove to be incorrect. Actual results
could differ materially from those anticipated in these
forward-looking statements as a result of a variety of factors,
including those discussed in the company’s reports that are filed
with the Securities and Exchange Commission. You should not place
undue reliance on these forward-looking statements, which speak
only as of the date of this press release. Other than as required
by law, the company and Tortoise Capital Advisors do not assume a
duty to update this forward-looking statement.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150701006640/en/
Tortoise Capital Advisors, L.L.C.Pam Kearney,
866-362-9331Investor and Public
Relationspkearney@tortoiseadvisors.com
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