Tortoise Energy Infrastructure Corporation (TYG) Earning Somewhat Favorable News Coverage, Study Shows
News stories about Tortoise Energy Infrastructure Corporation (NYSE:TYG) have been trending somewhat positive recently, according to Alpha One Sentiment Analysis. The research group, a division of Accern, identifies positive and negative press coverage by reviewing more than twenty million news and blog sources in real time. Alpha One ranks coverage of publicly-traded companies on a scale of negative one to one, with scores nearest to one being the most favorable. Tortoise Energy Infrastructure Corporation earned a coverage optimism score of 0.12 on Alpha One’s scale. Alpha One also assigned news coverage about the financial services provider an impact score of 50 out of 100, meaning that recent press coverage is somewhat likely to have an impact on the stock’s share price in the next few days.
Shares of Tortoise Energy Infrastructure Corporation (NYSE:TYG) traded up 1.84% during mid-day trading on Friday, reaching $28.74. The company’s stock had a trading volume of 142,452 shares. Tortoise Energy Infrastructure Corporation has a 12-month low of $27.67 and a 12-month high of $37.11. The firm’s 50-day moving average price is $32.41 and its 200 day moving average price is $32.75. The firm has a market cap of $1.41 billion, a P/E ratio of 2.89 and a beta of 1.27.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 31st. Shareholders of record on Wednesday, May 24th were paid a dividend of $0.655 per share. The ex-dividend date was Monday, May 22nd. This represents a $2.62 dividend on an annualized basis and a dividend yield of 9.12%.
Separately, Stifel Nicolaus cut Tortoise Energy Infrastructure Corporation from a “buy” rating to a “hold” rating and set a $35.00 price target for the company. in a research report on Wednesday, March 8th.
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About Tortoise Energy Infrastructure Corporation
Tortoise Energy Infrastructure Corporation (the Fund) is a non-diversified, closed-end management investment company. The Fund seeks a high level of total return with a focus on current distributions paid to stockholders. The Fund invests primarily in equity securities of master limited partnerships (MLPs) and their affiliates that transport, gather, process or store natural gas, natural gas liquids (NGLs), crude oil and refined petroleum products.
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