Tortoise Midstream Energy Fund Inc (N:NTG)
Business Focus: Closed End Funds
| Sector: Financials | Industry: Closed End Funds |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 6363 COLLEGE BOULEVARD, SUITE 100A LEAWOOD KS 66211 |
| Tel: | N/A |
| Website: | N/A |
| IR: | N/A |
| Key People | ||
| Matthew G. P. Sallee President | Courtney Gengler Chief Executive Officer | Sean Wickliffe Principal Financial Officer, Treasurer |
| Brian A. Kessens President of TTP,TPZ | Kate Moore President of TEAF | Robert J. Thummel President of NDP |
| Diane M. Bono Chief Compliance Officer, Secretary | Shobana Gopal Vice President | Nicholas S. Holmes Vice President |
| Business Overview |
| Tortoise Midstream Energy Fund, Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund primarily invests in midstream energy entities 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 (NGLs). The Fund targets midstream energy entities, including master limited partnerships (MLPs) benefiting from the United States natural gas production and global consumption expansion with limited direct commodity exposure. The Fund invests at least 80% of its total investments in equity securities of midstream energy entities in the energy infrastructure sector, including MLPs, with at least 50% of its total investments in equity securities of natural gas infrastructure entities. Tortoise Capital Advisors, L.L.C. serves as an investment advisor of the Fund. |
| Financial Overview |
| For the fiscal year ended 30 November 2023, Tortoise Midstream Energy Fund Inc revenues increased 24% to $8.4M. Net income decreased 89% to $7M. Revenues reflect Return of capital on distributions increase of 15% to -$8.1M, Dividends and distributions from common increase of 9% to $11.6M, Other income increase from $14K to $72K. Net income was offset by Net realized gain on investments, before decrease of 72% to $23M (income). |
| Reporting Currency: | U.S. Dollars |
| Enterprise value: | N/A |
| Annual revenue (TTM): | $8.44M as of Nov 30, 2023 |
| EBITDA (TTM): | $4.09M as of Nov 30, 2023 |
| Net annual income (TTM): | $6.95M as of Nov 30, 2023 |
| Free cash flow (TTM): | $19.44M as of Nov 30, 2023 |
| Net Debt Last Fiscal Year: | $53.46M as of Nov 30, 2023 |
| Shares outstanding: | 5,360,842 as of Feb 19, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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