NTG

Tortoise Midstream Energy Fund, Inc. Common Stock

NTG

Market cap $272M

Delisted

NTG was delisted on the 20th of December, 2024.

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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.

Financial journalist opinion

Tortoise Capital Announces 2024 Closed-End Fund Tax Characterization of Distributions and Release of Combined 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) Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) OVERLAND PARK, KS / ACCESS Newswire / January 30, 2025 / Tortoise Capital today announced the tax characterization of 2024 distributions paid to common stockholders of each of the funds listed below: 2024 Tax Characterization of Distributions TYG NTG TTP NDP TPZ TEAF Qualified Dividend Income 20 % 12 % 13 % 15 % 17 % 10 % Ordinary Dividend Income 4 % 0 % 0 % 0 % 5 % 60 % Return of Capital 76 % 88 % 87 % 85 % 78 % 30 % Long-Term Capital Gain 0 % 0 % 0 % 0 % 0 % 0 % Additional information regarding the tax characterization of the 2024 distributions is available at www.TortoiseAdvisors.com. A copy of the information is also available upon request by calling (866) 362-9331.

Tortoise Capital Announces 2024 Closed-End Fund Tax Characterization of Distributions and Release of Combined Annual Report

Tortoise Capital Completes Merger of Tortoise Energy Infrastructure Corp. (NYSE: TYG) and Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)

OVERLAND PARK, KS / ACCESSWIRE / December 23, 2024 / Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy investing, today announced the completion of a strategic merger between Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) and Tortoise Energy Infrastructure Corp. (NYSE:TYG) with TYG emerging as the continuing fund.

Tortoise Capital Completes Merger of Tortoise Energy Infrastructure Corp. (NYSE: TYG) and Tortoise Midstream Energy Fund, Inc. (NYSE: NTG)

Tortoise Capital Announces Shareholder Approval of Closed-End Fund Mergers and Conversion to Actively Managed ETF

OVERLAND PARK, Kan., Dec. 5, 2024 /PRNewswire/ -- Tortoise Capital Advisors, L.L.C. (Tortoise Capital), a fund manager focused on energy investing, today announced it received shareholder approval of two strategic fund merger proposals involving closed-end funds and the conversion to an actively managed ETF. These changes align with the firm's commitment to providing innovative investment solutions that are intended to enhance shareholder value and operational efficiency. Subject to the satisfaction of certain customary closing conditions, Tortoise Capital expects the mergers and ETF conversion to become effective, and trading of the merged funds will cease, before the market opens on Dec. 23, 2024.

Tortoise Capital Announces Shareholder Approval of Closed-End Fund Mergers and Conversion to Actively Managed ETF

Tortoise Capital Announces Excise Distributions for NTG, TTP and NDP

Distribution Amounts and Dates Declared for: Tortoise Midstream Energy Fund, Inc. (NYSE:NTG) Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) Tortoise Energy Independence Fund, Inc. (NYSE:NDP) OVERLAND PARK, KS / ACCESSWIRE / November 25, 2024 / Tortoise Capital announced excise tax distributions declared by three of its closed-end funds: NTG, TTP, and NDP. These excise distributions are payable on Dec. 13, 2024, to shareholders of record on Dec. 6, 2024.

Tortoise Capital Announces Excise Distributions for NTG, TTP and NDP

Tortoise Capital Announces Closed-End Fund Distributions

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) Tortoise Sustainable and Social Impact Term Fund (NYSE:TEAF) OVERLAND PARK, KS / ACCESSWIRE / November 4, 2024 / Tortoise Capital announced distributions declared by its closed-end funds. Tortoise Capital closed-end funds distribution details are as follows: Fund Ticker Distribution Amount Distribution Target of Average NAV Distribution Frequency Tortoise Energy Infrastructure Corp. TYG $0.78 7%-10% Quarterly Tortoise Midstream Energy Fund, Inc. NTG $0.81 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 Tortoise Sustainable and Social Impact Term Fund TEAF $0.09 6%-8% Monthly TYG, NTG, TTP, NDP and TPZ distributions are payable on Nov. 29, 2024, to shareholders of record on Nov. 22, 2024.

Tortoise Capital Announces Closed-End Fund Distributions

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

OVERLAND PARK, KS / ACCESSWIRE / November 1, 2024 / Tortoise Capital today announced the following unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG, NTG, TTP, NDP, TPZ and TEAF. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of Oct. 31, 2024, the company's unaudited total assets were approximately $615.4 million and its unaudited net asset value was $492.6 million, or $45.76 per share.

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

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

OVERLAND PARK, KS / ACCESSWIRE / October 1, 2024 / Tortoise Capital today announced the following unaudited balance sheet information and asset coverage ratio updates for closed-end funds TYG, NTG, TTP, NDP, TPZ and TEAF. Tortoise Energy Infrastructure Corp. (NYSE:TYG) today announced that as of Sept.

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

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

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