Kercheville Advisors LLC Buys New Position in Tortoise Energy Infrastructure Co. (NYSE:TYG)

Kercheville Advisors LLC bought a new stake in Tortoise Energy Infrastructure Co. (NYSE:TYG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 11,436 shares of the financial services provider’s stock, valued at approximately $480,000. Kercheville Advisors LLC owned about 0.11% of Tortoise Energy Infrastructure at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Hartford Financial Management Inc. increased its stake in shares of Tortoise Energy Infrastructure by 37.5% during the 4th quarter. Hartford Financial Management Inc. now owns 803 shares of the financial services provider’s stock valued at $34,000 after acquiring an additional 219 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Tortoise Energy Infrastructure during the 3rd quarter valued at about $82,000. Eastern Bank acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $124,000. First National Bank of Mount Dora Trust Investment Services acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $205,000. Finally, Absolute Investment Advisers LLC acquired a new position in shares of Tortoise Energy Infrastructure during the 4th quarter valued at about $214,000. Institutional investors and hedge funds own 32.50% of the company’s stock.

Insider Transactions at Tortoise Energy Infrastructure

In other news, major shareholder Prudential Financial Inc bought 1,500,000 shares of the firm’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 of the company’s stock, valued at $15,000,000. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Saba Capital Management, L.P. sold 5,667 shares of the business’s stock in a transaction dated Monday, December 30th. The stock was sold at an average price of $41.61, for a total value of $235,803.87. Following the sale, the insider now owns 1,061,234 shares of the company’s stock, valued at $44,157,946.74. The trade was a 0.53 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.28% of the company’s stock.

Tortoise Energy Infrastructure Stock Up 1.0 %

NYSE TYG opened at $46.19 on Thursday. Tortoise Energy Infrastructure Co. has a 12 month low of $28.43 and a 12 month high of $48.76. The company has a 50-day moving average of $44.35 and a 200-day moving average of $40.70.

Tortoise Energy Infrastructure Dividend Announcement

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

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.