NTG News and Press, Tortoise Midstream Energy Fund Inc. From 09/28/22

Summary The energy markets have been volatile for most of 2022, continuing a two-year trend that dates to the early days of the coronavirus pandemic. The rising rig count and share buyback and M&A activity in midstream, especially in the Permian Basin, indicate strength in the...

Summary MLPs are pass-through entities that enjoy special tax treatment. As pass-through entities, MLPs avoid the double-taxation associated with investments in C-Corporations. Typically, 70-100% of MLP distributions have been considered a tax-deferred return of capital, which mea...

Summary Recent U.S. legislation alters the trajectory of GHG emissions and expands the opportunity set for midstream issuers. The bill enhances and expands the incentives for a diverse array of investments, enabling decarbonization across the U.S. economy. The strength of IRA ...

Summary Oil prices have seen three straight months of price declines and are down more than 30% from their relative high in June, but energy stocks have been relatively resilient, particularly MLPs. Much of the weakness in oil prices has been driven by demand concerns related to t...

Summary 0 out of 23 CEF sectors positive on price and 0 out of 23 sectors positive on NAV last week. U.S. equities were the worst-performing CEF sector. SMM will be merged with SMLPX. Author’s note: This article was released to CEF/ETF Income Laboratory memb...

Summary Following the hawkish comments from Jackson Hole, it seems like the dynamic seen for much of 2022 is set to continue. Less sensitivity to interest rates may also work in energy’s favor. Positive changes in recent years to the financial positioning of midstream c...

Summary With free cash flow generation becoming more meaningful since 2020, many companies have used excess cash flow to reduce debt, while EBITDA growth has also contributed to lower leverage ratios. With improved balance sheets, midstream companies have been able to execute on d...

OVERLAND PARK, KS / ACCESSWIRE / September 1, 2022 / Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of August 31, 2022, the ...

Summary Tortoise Midstream Energy Fund, Inc is a closed end fund focused on midstream energy entities. The CEF has traded at very substantial discounts to net asset value after the Covid crisis, discounts which have averaged almost -20%. The fund is tendering 5% of its shares ...

Summary 1 out of 23 CEF sectors positive on price and 1 out of 23 sectors positive on NAV last week. MLPs lead while commodities lag. MLPs are the most discounted CEF sector. Author’s note: This article was released to CEF/ETF Income Laboratory members on Au...