Tortoise Midstream Energy Fund (NTG) Stock

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 Advisors plans to merge Tortoise Midstream Energy Fund into Tortoise Energy Infrastructure Corp. The merger, subject to shareholder and regulatory approval, includes a 40% distribution increase and a switch to monthly payouts, enhancing investor appeal. The merger may be an effort to counter activist investor Saba's influence, who holds significant stakes in both NTG and TYG.

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.

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.

The Tortoise Midstream Energy Fund is a closed-end fund that invests in midstreams and MLPs with a focus on natural gas. NTG is trading at a deep discount, while natural gas prices have also been getting hit lately, putting some pressure on the underlying holdings of the fund. The underlying midstream companies should be relatively sheltered from the underlying commodity prices, which should continue to deliver consistent cash flows.

Natural gas prices have fallen over 30% since October, creating buying opportunities in the natural gas transportation sector. High production and a warm winter have contributed to the collapse in natural gas prices. The Tortoise Midstream Energy Fund is a closed-end fund focused on natural gas transportation companies.

The Tortoise Midstream Energy Fund offers a solution for including midstream energy companies in tax-advantaged retirement accounts without tax problems. The NTG closed-end fund has a decent performance, with a 0.37% increase in share price since my last article and an 8.80% yield. The fund invests primarily in common equities of midstream partnerships and corporations, providing a high level of total return.