Tortoise Energy Infrastructure (NYSE:TYG) Reaches New 1-Year High – Still a Buy?

Tortoise Energy Infrastructure Corporation (NYSE:TYG) reached a new 52-week high during trading on Tuesday . The company traded as high as $50.93 and last traded at $50.6960, with a volume of 101330 shares changing hands. The stock had previously closed at $49.82.

Tortoise Energy Infrastructure Trading Up 1.8%

The stock has a fifty day simple moving average of $44.70 and a 200-day simple moving average of $43.49.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several large investors have recently bought and sold shares of the company. Corecam Pte. Ltd. acquired a new stake in Tortoise Energy Infrastructure in the fourth quarter worth $234,000. Sit Investment Associates Inc. increased its position in shares of Tortoise Energy Infrastructure by 7.3% in the 4th quarter. Sit Investment Associates Inc. now owns 135,345 shares of the financial services provider’s stock valued at $5,536,000 after buying an additional 9,210 shares in the last quarter. Corient Private Wealth LLC raised its stake in Tortoise Energy Infrastructure by 368.4% during the 4th quarter. Corient Private Wealth LLC now owns 50,394 shares of the financial services provider’s stock worth $2,061,000 after buying an additional 39,635 shares during the period. Cahill Financial Advisors Inc. lifted its holdings in Tortoise Energy Infrastructure by 1.6% during the fourth quarter. Cahill Financial Advisors Inc. now owns 21,119 shares of the financial services provider’s stock worth $864,000 after acquiring an additional 323 shares in the last quarter. Finally, Evolve Private Wealth LLC acquired a new position in Tortoise Energy Infrastructure in the fourth quarter valued at about $1,881,000. Institutional investors own 32.50% of the company’s stock.

Tortoise Energy Infrastructure Company Profile

Tortoise Energy Infrastructure Corp. (NYSE: TYG) is a closed-end management investment company that focuses on investing in energy infrastructure companies. Organized as a business development company under the Investment Company Act of 1940, it primarily acquires and manages a diversified portfolio of debt and equity securities issued by publicly traded and private energy infrastructure businesses. The company seeks to generate current income and long-term capital appreciation through selective investments across the energy value chain.

The firm’s investment strategy emphasizes midstream infrastructure, including pipeline transportation, storage, processing facilities, and terminals.