Prudential Financial Inc Buys 1,500,000 Shares of Tortoise Energy Infrastructure Co. (NYSE:TYG) Stock

Tortoise Energy Infrastructure Co. (NYSE:TYG) major shareholder Prudential Financial Inc bought 1,500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were purchased at an average cost of $10.00 per share, for a total transaction of $15,000,000.00. Following the purchase, the insider now owns 1,500,000 shares in the company, valued at $15,000,000. This represents a ? increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Tortoise Energy Infrastructure Price Performance

TYG opened at $42.11 on Friday. The stock’s 50-day moving average price is $42.62 and its 200 day moving average price is $38.31. Tortoise Energy Infrastructure Co. has a 12-month low of $28.01 and a 12-month high of $46.35.

Tortoise Energy Infrastructure Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 21st will be issued a dividend of $0.365 per share. The ex-dividend date is Friday, February 21st. This represents a yield of 7.4%.

Institutional Investors Weigh In On Tortoise Energy Infrastructure

Several large investors have recently bought and sold shares of TYG. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Tortoise Energy Infrastructure during the 3rd quarter worth about $82,000. Blue Bell Private Wealth Management LLC increased its holdings in Tortoise Energy Infrastructure by 27.9% during the 2nd quarter. Blue Bell Private Wealth Management LLC now owns 2,934 shares of the financial services provider’s stock worth $102,000 after purchasing an additional 640 shares during the period. Carmichael Hill & Associates Inc. increased its holdings in Tortoise Energy Infrastructure by 9.4% during the 2nd quarter. Carmichael Hill & Associates Inc. now owns 7,931 shares of the financial services provider’s stock worth $277,000 after purchasing an additional 682 shares during the period. Bard Associates Inc. purchased a new stake in Tortoise Energy Infrastructure during the 3rd quarter worth about $356,000. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tortoise Energy Infrastructure by 48.7% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 10,872 shares of the financial services provider’s stock valued at $379,000 after acquiring an additional 3,561 shares during the last quarter. Hedge funds and other institutional investors own 32.50% of the company’s stock.

About Tortoise Energy Infrastructure

Tortoise Energy Infrastructure Corporation is a closed ended equity mutual fund launched and managed by Tortoise Capital Advisors LLC The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating in the energy infrastructure sector, with an emphasis on those companies that are engaged in transporting, processing, storing, distributing or marketing natural gas, natural gas liquids (primarily propane), coal, crude oil or refined petroleum products, or exploring, developing, managing or producing such commodities.