Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of Nov. 30, 2012, the company’s unaudited total assets were approximately $374.9 million and its unaudited net asset value was $252.5 million, or $25.24 per share.
As of Nov. 30, 2012, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 509 percent, and its coverage ratio for preferred shares was 409 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.
Set forth below is a summary of the company’s unaudited balance sheet at Nov. 30, 2012 and a summary of its top 10 holdings.
|Unaudited Balance Sheet|
|(in Millions)||Per Share|
|Cash and Cash Equivalents||0.1||0.01|
|Receivable for Investments Sold||38.9||3.89|
|Payable for Investments Purchased||39.0||3.89|
|10.00 million common shares currently outstanding.|
|Top 10 Holdings (as of Nov. 30, 2012)|
|Name||MarketValue (in Millions)||% ofInvestment Securities (1)|
|Williams Companies, Inc.||$||30.6||9.1||%|
|Spectra Energy Corp.||24.6||7.3||%|
|Kinder Morgan Management, LLC||18.9||5.6||%|
|CenterPoint Energy, Inc.||14.4||4.3||%|
|Enbridge Energy Management, LLC||13.5||4.0||%|
|Plains All American Pipeline, L.P.||11.2||3.3||%|
|(1) Percent of Investments and Cash Equivalents|
Year End Conference CallThe company will host a conference call on Dec. 13, 2012 at 4:30 p.m. EST, to discuss current U.S. energy industry market conditions and TTP’s 2012 year-end performance results. Participants can access the conference call by dialing (877) 407-8035. The call will also be webcast in a listen-only format. A link to the webcast will be accessible at www.tortoiseadvisors.com. A replay of the call will be available after the call continuing until Dec. 13, 2013, by dialing (877) 660-6853. The replay account number is 286 and the conference id is 400245. A replay of the webcast will also be available on the company's website at www.tortoiseadvisors.com through Dec. 13, 2013. About Tortoise Pipeline & Energy Fund, Inc. Tortoise Pipeline & Energy Fund, Inc. (NYSE: 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 intends to focus primarily in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil and refined products and to a lesser extent, on other energy infrastructure companies.
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