Tortoise Pipeline & Energy Fund, Inc. (TTP) Files Form 4 Insider Buying : Matthew Sallee Buys 400 Shares

Tortoise Pipeline & Energy Fund, Inc. (TTP): Matthew Sallee , other of Tortoise Pipeline & Energy Fund, Inc. purchased 400 shares on Apr 8, 2016. The Insider buying transaction was disclosed on Apr 11, 2016 to the Securities and Exchange Commission. The shares were purchased at $14.61 per share for a total value of $5,844.00.

Company has been under the radar of several Street Analysts.Tortoise Pipeline and Energy Fund Inc is Downgraded by BofA/Merrill to Underperform. Earlier the firm had a rating of Neutral on the company shares. The Rating was issued on Feb 17, 2016.

Tortoise Pipeline & Energy Fund Inc. is a non-diversified closed-end management investment fund which invests in equity securities of pipeline companies that transport natural gas natural gas liquids (NGLs) crude oil and refined products and other energy infrastructure companies. The Fund’s objective is to seek a high level of total return with an emphasis on current distributions. It invests at least 80% of its total assets (including assets obtained through leverage) in equity securities of pipeline and other energy infrastructure companies. It may invest up to 30% of its total assets in unregistered or restricted securities through direct investments and will not invest in private companies. It may invest up to 20% of its total assets in debt securities including those rated below investment grade. It will not invest more than 10% of its total assets in any single issuer and will not engage in short sales. Tortoise Capital Advisors L.L.C. is the Fund’s investment adviser.

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