(Source: Business Wire)
Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today
announced that as of Oct. 31, 2009, the company's unaudited total assets
were approximately $170.3 million and its unaudited net asset value was
$136.8 million, or $19.87 per share.
As of Oct. 31, 2009, the company was in compliance with its asset
coverage ratios under the Investment Company Act of 1940 (the 1940 Act).
The company's asset coverage ratio under the 1940 Act with respect to
senior securities representing indebtedness was 516 percent. For more
information on calculation of coverage ratios, please refer to our most
recent applicable prospectus.
Set forth below is a summary of the company's unaudited balance sheet at
Oct. 31, 2009, and a summary of its top 10 holdings.
Unaudited Balance Sheet
(in Millions) Per Share
Investments $ 167.2 $ 24.28
Cash and Cash Equivalents 0.4 0.06
Other Assets 2.7 0.39
Total Assets 170.3 24.73
Short-Term Borrowings 32.9 4.78
Other Liabilities 0.6 0.08
Net Assets $ 136.8 $ 19.87
6.89 million common shares currently outstanding.
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Top 10 Holdings (as of Oct. 31, 2009)
Name MarketValue(in Millions) % ofInvestmentSecurities(1)
Kinder Morgan Management, LLC $ 13.3 7.9 %
Enbridge Energy Management, L.L.C. 13.0 7.7 %
Inergy, L.P.