TORTOISE PIPELI/COM (TTP) Reaches New 1-Year Low at $13.60

TORTOISE PIPELI/COM (NYSE:TTP) hit a new 52-week low on Thursday . The stock traded as low as $13.60 and last traded at $13.83, with a volume of 700 shares. The stock had previously closed at $14.51.

The business also recently declared a quarterly dividend, which was paid on Friday, November 30th. Investors of record on Friday, November 23rd were issued a dividend of $0.407 per share. This represents a $1.63 annualized dividend and a dividend yield of 11.61%. The ex-dividend date of this dividend was Wednesday, November 21st.

In related news, insider Sunil Bhonsle purchased 300,000 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The stock was purchased at an average cost of $0.25 per share, with a total value of $75,000.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

A number of institutional investors have recently added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in TORTOISE PIPELI/COM by 11.1% in the third quarter. Morgan Stanley now owns 264,854 shares of the investment management company’s stock valued at $4,582,000 after acquiring an additional 26,368 shares during the period. Lincoln National Corp lifted its holdings in TORTOISE PIPELI/COM by 6.1% in the third quarter. Lincoln National Corp now owns 164,794 shares of the investment management company’s stock valued at $2,851,000 after acquiring an additional 9,493 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in TORTOISE PIPELI/COM by 10.1% in the third quarter. Oppenheimer & Co. Inc. now owns 47,944 shares of the investment management company’s stock valued at $829,000 after acquiring an additional 4,387 shares during the period. First Trust Advisors LP lifted its holdings in TORTOISE PIPELI/COM by 34.3% in the third quarter. First Trust Advisors LP now owns 76,000 shares of the investment management company’s stock valued at $1,315,000 after acquiring an additional 19,399 shares during the period. Finally, IFP Advisors Inc lifted its holdings in TORTOISE PIPELI/COM by 94.3% in the third quarter. IFP Advisors Inc now owns 34,098 shares of the investment management company’s stock valued at $590,000 after acquiring an additional 16,546 shares during the period.

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About TORTOISE PIPELI/COM (NYSE:TTP)

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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