Tortoise Energy Infrastructure Co. (NYSE:TYG - Get Free Report) major shareholder Prudential Financial Inc purchased 1,500,000 shares of the company's stock in a transaction on Wednesday, December 18th. The shares were purchased at an average price of $10.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the insider now directly owns 1,500,000 shares of the company's stock, valued at $15,000,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Major shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.
Tortoise Energy Infrastructure Price Performance
TYG opened at $42.11 on Friday. Tortoise Energy Infrastructure Co. has a 1 year low of $28.01 and a 1 year high of $46.35. The firm has a 50 day moving average price of $42.62 and a 200 day moving average price of $38.27.
Tortoise Energy Infrastructure Announces Dividend
The firm also recently disclosed a -- dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 21st will be given a $0.365 dividend. This represents a dividend yield of 7.4%. The ex-dividend date is Friday, February 21st.
Hedge Funds Weigh In On Tortoise Energy Infrastructure
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Several hedge funds and other institutional investors have recently made changes to their positions in TYG. Raymond James & Associates boosted its holdings in Tortoise Energy Infrastructure by 679.7% in the 3rd quarter. Raymond James & Associates now owns 75,830 shares of the financial services provider's stock worth $2,976,000 after acquiring an additional 66,104 shares during the period. Almitas Capital LLC boosted its stake in shares of Tortoise Energy Infrastructure by 157.6% in the second quarter. Almitas Capital LLC now owns 25,457 shares of the financial services provider's stock valued at $888,000 after purchasing an additional 15,576 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Tortoise Energy Infrastructure by 604.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 76,567 shares of the financial services provider's stock valued at $3,005,000 after purchasing an additional 65,695 shares in the last quarter. Bayshore Asset Management LLC purchased a new stake in Tortoise Energy Infrastructure during the 3rd quarter worth $688,000. Finally, Sanctuary Advisors LLC acquired a new position in Tortoise Energy Infrastructure in the 2nd quarter worth $469,000. Institutional investors and hedge funds own 32.50% of the company's stock.
Tortoise Energy Infrastructure Company Profile
(
Get Free Report)
Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.
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