Tortoise Pipeline & Energy Fund, Inc. Declares Quarterly Dividend of $0.59 (NYSE:TTP)

Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTPGet Rating) announced a quarterly dividend on Thursday, May 12th, Wall Street Journal reports. Stockholders of record on Tuesday, May 24th will be given a dividend of 0.59 per share by the investment management company on Tuesday, May 31st. This represents a $2.36 dividend on an annualized basis and a dividend yield of 8.21%. The ex-dividend date is Monday, May 23rd.

Tortoise Pipeline & Energy Fund has decreased its dividend by an average of 45.4% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.

TTP stock opened at $28.73 on Friday. Tortoise Pipeline & Energy Fund has a 1 year low of $21.12 and a 1 year high of $31.17. The stock has a 50-day simple moving average of $28.59 and a 200-day simple moving average of $26.16.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. UBS Group AG boosted its holdings in Tortoise Pipeline & Energy Fund by 16.9% in the third quarter. UBS Group AG now owns 4,254 shares of the investment management company’s stock valued at $102,000 after purchasing an additional 614 shares during the last quarter. Morgan Stanley boosted its holdings in Tortoise Pipeline & Energy Fund by 1.7% in the second quarter. Morgan Stanley now owns 38,959 shares of the investment management company’s stock valued at $932,000 after purchasing an additional 669 shares during the last quarter. Bank of America Corp DE boosted its holdings in Tortoise Pipeline & Energy Fund by 21.5% in the fourth quarter. Bank of America Corp DE now owns 10,775 shares of the investment management company’s stock valued at $246,000 after purchasing an additional 1,905 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Tortoise Pipeline & Energy Fund in the first quarter valued at about $203,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in Tortoise Pipeline & Energy Fund in the first quarter valued at about $341,000.

About Tortoise Pipeline & Energy Fund (Get Rating)

Tortoise Pipeline & Energy Fund, Inc is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors, LLC. It invests in public equity markets of North America. The fund invests in pipeline companies that engage in the business of transporting natural gas, natural gas liquids, crude oil, and refined petroleum products.

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Dividend History for Tortoise Pipeline & Energy Fund (NYSE:TTP)

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