Tortoise Energy Infrastructure (NYSE:TYG) Reaches New 12-Month High – Still a Buy?

Tortoise Energy Infrastructure Corporation (NYSE:TYG) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $47.81 and last traded at $47.3850, with a volume of 5327 shares changing hands. The stock had previously closed at $47.35.

Tortoise Energy Infrastructure Stock Up 1.3%

The company’s fifty day simple moving average is $43.44 and its two-hundred day simple moving average is $43.16.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TYG. Parkside Financial Bank & Trust raised its position in shares of Tortoise Energy Infrastructure by 42.9% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,000 shares of the financial services provider’s stock worth $41,000 after purchasing an additional 300 shares during the period. Comerica Bank raised its holdings in Tortoise Energy Infrastructure by 27.8% during the 4th quarter. Comerica Bank now owns 1,111 shares of the financial services provider’s stock worth $45,000 after buying an additional 242 shares during the period. Hartford Financial Management Inc. raised its holdings in Tortoise Energy Infrastructure by 49.2% during the 4th quarter. Hartford Financial Management Inc. now owns 1,244 shares of the financial services provider’s stock worth $51,000 after buying an additional 410 shares during the period. Thurston Springer Miller Herd & Titak Inc. lifted its stake in Tortoise Energy Infrastructure by 600.0% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 2,100 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,800 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Tortoise Energy Infrastructure by 31.7% in the third quarter. CIBC Private Wealth Group LLC now owns 3,826 shares of the financial services provider’s stock valued at $165,000 after buying an additional 921 shares during the period. 32.50% of the stock is owned by institutional investors and hedge funds.

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.