Tortoise Pipeline & Energy Fund, Inc. Provides Unaudited Balance Sheet Information And Asset Coverage Ratio Update As Of Dec. 31, 2012

Tortoise Pipeline & Energy Fund, Inc. (NYSE: TTP) today announced that as of Dec. 31, 2012, the company’s unaudited total assets were approximately $336.5 million and its unaudited net asset value was $252.5 million, or $25.24 per share.

As of Dec. 31, 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 504 percent, and its coverage ratio for preferred shares was 406 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 Dec. 31, 2012 and a summary of its top 10 holdings.

Unaudited Balance Sheet
  (in Millions)   Per Share
Investments $ 334.9 $ 33.48
Cash and Cash Equivalents 0.5 0.05
Receivable for Investments Sold 0.2 0.01
Other Assets   0.9   0.09
Total Assets   336.5   33.63
 
Short-Term Borrowings 17.5 1.75
Senior Notes 49.0 4.90
Preferred Stock   16.0   1.60
Total Leverage   82.5   8.25
 
Other Liabilities   1.5   0.14
Net Assets $ 252.5 $ 25.24
 

10.00 million common shares currently outstanding.

Top 10 Holdings (as of Dec. 31, 2012)

Name
 

MarketValue (in Millions)
 

% ofInvestment Securities (1)
Williams Companies, Inc. $ 32.1 9.6 %
Spectra Energy Corp. 24.1 7.2 %
Kinder Morgan Management, LLC 18.8 5.6 %
TransCanada Corp. 16.6 5.0 %
NiSource, Inc. 16.5 4.9 %
ONEOK, Inc. 16.0 4.8 %
CenterPoint Energy, Inc. 14.0 4.2 %
Enbridge Energy Management, LLC 13.2 3.9 %
Enbridge, Inc. 11.6 3.5 %
Plains All American Pipeline, L.P.   10.9 3.2 %
Total $ 173.8 51.9 %

(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 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.

If you liked this article you might like

3 Stocks With Upcoming Ex-Dividend Dates: PFO, TTP, ETG

Jim Cramer on Whether to Sell Chipotle Stock, What's Ahead for Qualcomm

Jim Cramer Says Sit Tight on MLPs, Own R.R. Donnelley For Long-Term

3 Stocks Going Ex-Dividend Tomorrow: EFF, TTP, ETW

Dividend Watch: 3 Stocks Going Ex-Dividend Tomorrow: EFF, ETO, TTP