Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of Oct. 31, 2013, the company’s unaudited total assets were approximately $399.0 million and its unaudited net asset value was $311.0 million, or $31.05 per share.
As of Oct. 31, 2013, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 563 percent, and its coverage ratio for preferred shares was 459 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.
Set forth below is a summary of the company’s unaudited balance sheet at Oct. 31, 2013 and a summary of its top 10 holdings.
|Unaudited Balance Sheet|
|(in Millions)||Per Share|
|Cash and Cash Equivalents||0.4||0.04|
|10.02 million common shares currently outstanding.|
|Top 10 Holdings (as of Oct. 31, 2013)|
|Name||MarketValue (in Millions)||% ofInvestment Securities (1)|
|Spectra Energy Corp.||$||34.3||8.6||%|
|Williams Companies, Inc.||31.5||7.9||%|
|CenterPoint Energy, Inc.||22.8||5.7||%|
|Kinder Morgan Management, LLC||20.0||5.0||%|
|Enbridge Energy Management, LLC||15.6||3.9||%|
|Targa Resources Corp.||12.9||3.3||%|
|Energy Transfer Partners, L.P.||10.6||2.7||%|
|(1) Percent of Investments and Cash Equivalents|
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 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.
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