This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Tortoise Pipeline & Energy Fund, Inc. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Nov. 30, 2012

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
Investments $ 334.5 $ 33.44
Cash and Cash Equivalents 0.1 0.01
Receivable for Investments Sold 38.9 3.89
Other Assets   1.4   0.13
Total Assets   374.9   37.47
 
Short-Term Borrowings 16.6 1.66
Senior Notes 49.0 4.90
Preferred Stock   16.0   1.60
Total Leverage   81.6   8.16
 
Payable for Investments Purchased 39.0 3.89
Other Liabilities   1.8   0.18
Net Assets $ 252.5 $ 25.24
 

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 %
TransCanada Corp. 17.8 5.3 %
ONEOK, Inc. 16.8 5.0 %
NiSource, Inc. 16.0 4.8 %
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 %
Enbridge, Inc.   10.8 3.2 %
Total $ 174.6 51.9 %
 

(1) Percent of Investments and Cash Equivalents

 

Year End Conference Call

The 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.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,960.57 -123.23 -0.72%
S&P 500 1,978.34 -9.64 -0.48%
NASDAQ 4,449.5640 -22.5440 -0.50%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs