NTG

Tortoise Midstream Energy Fund
NTG

$47.39

0.34%

Market Cap: $241M

About: Tortoise Midstream Energy Fund, Inc. is an investment management firm specializing in listed energy investments. Iinvests primarily in midstream energy equities that own and operate a network of pipeline and energy related logistical infrastructure assets with an emphasis on those that transport, gather, process and store natural gas and natural gas liquids. Its investment vehicles include closed-end funds, open-end funds, private funds, exchange-traded funds, and insurance portfolio. The company has expertise in energy, credit, direct lending, and sustainable infrastructure.

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Funds holding %

of 6,710 funds

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Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

200% more funds holding in top 10

Funds holding in top 10: 1 [Q1] → 3 (+2) [Q2]

60% more first-time investments, than exits

New positions opened: 8 | Existing positions closed: 5

44% more repeat investments, than reductions

Existing positions increased: 23 | Existing positions reduced: 16

11% more capital invested

Capital invested by funds: $83.1M [Q1] → $92.1M (+$9.05M) [Q2]

5% more funds holding

Funds holding: 55 [Q1] → 58 (+3) [Q2]

0.42% less ownership

Funds ownership: 38.43% [Q1] → 38.01% (-0.42%) [Q2]

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Research analyst outlook

We haven’t received any recent analyst ratings for NTG.

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Financial journalist opinion

Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of August 30, 2024, for TYG, NTG, TTP, NDP and TPZ

OVERLAND PARK, KS / ACCESSWIRE / September 3, 2024 / Tortoise Capital today announced the following unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG, NTG, TTP, NDP and TPZ. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of Aug. 30, 2024, the company's unaudited total assets were approximately $583.9 million and its unaudited net asset value was $460.9 million, or $42.82 per share.

Tortoise Capital Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of August 30, 2024, for TYG, NTG, TTP, NDP and TPZ

NTG: Not An Attractive Entry Point, But A Robust Hold (Rating Downgrade)

NTG is a 'Hold' due to its large discount to NAV and potential future corporate actions. The recent merger of three Tortoise CEFs into an ETF does not include NTG, leaving the fund within the closed-end management company structure. Energy MLPs have improved fundamentals but face potential headwinds in 2025 due to predicted oil surpluses and OPEC's production decisions.

NTG: Not An Attractive Entry Point, But A Robust Hold (Rating Downgrade)

NTG: Trading At An Enormous Discount And Benefiting From Positive Trends

Tortoise Midstream Energy Fund invests in a 25-asset portfolio that consists of master limited partnerships. The NTG fund has outperformed the S&P 500 Index over the past few years, which any investor can appreciate. The assets held by this fund are poised to benefit from growing electricity consumption throughout the United States over the coming years.

NTG: Trading At An Enormous Discount And Benefiting From Positive Trends

Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2024, for TYG, NTG, TTP, NDP and TPZ

OVERLAND PARK, KS / ACCESSWIRE / August 1, 2024 / Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of July 31, 2024, the company's unaudited total assets were approximately $563.0 million and its unaudited net asset value was $450.1 million, or $41.82 per share.

Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of July 31, 2024, for TYG, NTG, TTP, NDP and TPZ

Tortoise Capital Releases Combined 2024 Closed-End Fund Semi-Annual Report

Tortoise Energy Infrastructure Corp. (NYSE:TYG) Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) OVERLAND PARK, KS / ACCESSWIRE / July 29, 2024 / Tortoise Capital today announced the release of the combined 2024 semi-annual stockholders' report including all of these funds. The semi-annual report is available online at cef.tortoiseadvisors.com.

Tortoise Capital Releases Combined 2024 Closed-End Fund Semi-Annual Report

Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of June 28, 2024, for TYG, NTG, TTP, NDP and TPZ

OVERLAND PARK, KS / ACCESSWIRE / July 1, 2024 / Tortoise today announced the following unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of June 28, 2024, the company's unaudited total assets were approximately $554.1 million and its unaudited net asset value was $436.8 million, or $40.58 per share.

Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of June 28, 2024, for TYG, NTG, TTP, NDP and TPZ

U.S. Court of Appeals for the Second Circuit Reaffirms Ruling That Certain Closed-End Funds, Including Funds Advised by BlackRock, Violated the Investment Company Act of 1940

NEW YORK--(BUSINESS WIRE)--Saba Capital Management, L.P. (together with certain of its affiliates, “Saba” or “we”) today commented on the outcome of the appeal brought in the United States Court of Appeals for the Second Circuit (the “Appellate Court”) by the BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT), BlackRock Municipal Income Fund (NYSE: MUI), Royce Global Value Trust (NYSE: RGT), Tortoise Midstream Energy Fund (NYSE: NTG), Tortoise Energy Independence Fund (NYSE: NDP), Tortois.

U.S. Court of Appeals for the Second Circuit Reaffirms Ruling That Certain Closed-End Funds, Including Funds Advised by BlackRock, Violated the Investment Company Act of 1940

Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of May 31, 2024, for TYG, NTG, TTP, NDP and TPZ

OVERLAND PARK, KS / ACCESSWIRE / June 3, 2024 / Tortoise today announced the following preliminary unaudited balance sheet information and asset coverage ratio updates for TYG, NTG, TTP, NDP and TPZ. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of May 31, 2024, the company's unaudited total assets were approximately $553.7 million and its unaudited net asset value was $435.8 million, or $40.48 per share.

Tortoise Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Updates as of May 31, 2024, for TYG, NTG, TTP, NDP and TPZ

NTG: An MLP Closed-End Fund With Attractive Low-Cost Leverage

Energy MLPs and pipeline companies can be a valuable addition to a bond portfolio or a substitute for bonds. MLP closed-end funds offer advantages such as simplified tax reporting and qualified dividend income. Tortoise Midstream Energy Fund has had a roller coaster performance but has shown improvement in recent years.

NTG: An MLP Closed-End Fund With Attractive Low-Cost Leverage

Tortoise Announces Distribution Amounts for Its Closed-End Funds

Distribution Amounts and Dates Declared for: Tortoise Energy Infrastructure Corp. (NYSE:TYG) Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Tortoise Energy Independence Fund, Inc. (NYSE:NDP) Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE:TPZ) OVERLAND PARK, KS / ACCESSWIRE / May 8, 2024 / Tortoise and the Board of its closed-end funds announced distributions for its closed-end funds. Tortoise closed-end funds distribution details are as follows: Fund Ticker Distribution Amount Distribution Target of Average NAV Distribution Frequency Tortoise Energy Infrastructure Corp. TYG $0.71 7%-10% Quarterly Tortoise Midstream Energy Fund, Inc. NTG $0.77 7%-10% Quarterly Tortoise Pipeline & Energy Fund, Inc. TTP $0.59 7%-10% Quarterly Tortoise Energy Independence Fund, Inc., NDP $0.63 7%-10% Quarterly Tortoise Power and Energy Infrastructure Fund, Inc. TPZ $0.105 7%-10% Monthly TYG, NTG, TTP, NDP and TPZ distributions are payable on May 31, 2024, to shareholders of record on May 24, 2024.

Tortoise Announces Distribution Amounts for Its Closed-End Funds

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