Prudential Financial Inc Buys 1,500,000 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Prudential Financial Inc acquired 1,500,000 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was acquired at an average price of $10.00 per share, for a total transaction of $15,000,000.00. Following the acquisition, the insider now owns 1,500,000 shares in the company, valued at approximately $15,000,000. The trade was a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Tortoise Energy Infrastructure Trading Up 2.0 %

TYG opened at $42.11 on Friday. Tortoise Energy Infrastructure Co. has a one year low of $28.01 and a one year high of $46.35. The business’s 50-day simple moving average is $42.62 and its 200-day simple moving average is $38.31.

Tortoise Energy Infrastructure Announces Dividend

The company also recently declared a — dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 21st will be paid a dividend of $0.365 per share. The ex-dividend date of this dividend is Friday, February 21st. This represents a yield of 7.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its stake in Tortoise Energy Infrastructure by 58.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 21,347 shares of the financial services provider’s stock worth $838,000 after buying an additional 7,891 shares during the last quarter. Stifel Financial Corp grew its stake in Tortoise Energy Infrastructure by 7.7% during the 3rd quarter. Stifel Financial Corp now owns 38,483 shares of the financial services provider’s stock worth $1,510,000 after buying an additional 2,758 shares during the last quarter. De Lisle Partners LLP grew its stake in Tortoise Energy Infrastructure by 42.3% during the 3rd quarter. De Lisle Partners LLP now owns 66,093 shares of the financial services provider’s stock worth $2,593,000 after buying an additional 19,644 shares during the last quarter. D.A. Davidson & CO. grew its stake in Tortoise Energy Infrastructure by 6.0% during the 3rd quarter. D.A. Davidson & CO. now owns 11,636 shares of the financial services provider’s stock worth $457,000 after buying an additional 661 shares during the last quarter. Finally, Advisors Asset Management Inc. grew its stake in Tortoise Energy Infrastructure by 12.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 251,075 shares of the financial services provider’s stock worth $9,855,000 after buying an additional 28,661 shares during the last quarter. Hedge funds and other institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.