Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) Upgraded at Royal Bank of Canada

Tortoise Power and Energy Infrastructure Fund (NYSE:TPZ) was upgraded by research analysts at Royal Bank of Canada to an “outperform” rating in a research report issued to clients and investors on Wednesday, Stock Target Advisor reports. The firm presently has a $19.00 price target on the investment management company’s stock, up from their previous price target of $17.50. Royal Bank of Canada’s price target would suggest a potential upside of 36.40% from the company’s current price.

TPZ opened at $13.93 on Wednesday. Tortoise Power and Energy Infrastructure Fund has a 1-year low of $8.11 and a 1-year high of $14.00. The stock has a 50 day simple moving average of $12.77.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Eudaimonia Partners LLC raised its position in Tortoise Power and Energy Infrastructure Fund by 201.2% in the first quarter. Eudaimonia Partners LLC now owns 10,274 shares of the investment management company’s stock worth $124,000 after acquiring an additional 20,422 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the first quarter worth $375,000. Wolverine Asset Management LLC purchased a new stake in shares of Tortoise Power and Energy Infrastructure Fund in the first quarter worth $387,000. Relative Value Partners Group LLC increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 11.8% in the first quarter. Relative Value Partners Group LLC now owns 854,858 shares of the investment management company’s stock worth $10,335,000 after purchasing an additional 90,210 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of Tortoise Power and Energy Infrastructure Fund by 1.7% in the first quarter. Rockefeller Capital Management L.P. now owns 122,500 shares of the investment management company’s stock worth $1,481,000 after purchasing an additional 2,000 shares in the last quarter.

About Tortoise Power and Energy Infrastructure Fund

Tortoise Power and Energy Infrastructure Fund, Inc is a closed-ended balanced mutual fund launched and managed by Tortoise Capital Advisors, LLC. The fund invests in the fixed income and public equity markets of the United States. It invests in securities of companies operating in the power and energy infrastructure sectors.

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