9/02/2014 TPZ

Tortoise Power and Energy Infrastructure Fund, Inc. Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Aug. 31, 2014

LEAWOOD, Kan.-- September 02, 2014 ()--Tortoise Power and Energy Infrastructure Fund, Inc. (NYSE: TPZ) today announced that as of August 31, 2014, the company‘s unaudited total assets were approximately $266.0 million and its unaudited net asset value was $226.0 million, or $32.52 per share.

As of Aug. 31, 2014, 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 674 percent. For more information on calculation of coverage ratios, please refer to the company‘s most recent applicable prospectus.

Set forth below is a summary of the company‘s unaudited balance sheet at Aug. 31, 2014, and a summary of its top 10 holdings.

Unaudited balance sheet

    (in Millions)   Per Share  
Investments   $ 263.4   $ 37.89  
Cash and Cash Equivalents     0.1     0.02  
Other Assets     2.5     0.35  
Total Assets     266.0     38.26  
Short-Term Borrowings     39.4     5.67  
Other Liabilities     0.6     0.07  
Net Assets   $ 226.0   $ 32.52  

6.95 million common shares currently outstanding.

Top 10 holdings (as of Aug. 31, 2014)



(in Millions)


% of

Enbridge Energy Management, L.L.C. (equity)   $ 19.8   7.5 %  
Kinder Morgan Management, L.L.C. (equity)     18.8   7.1 %  
Enterprise Products Partners, L.P. (equity)     7.7   2.9 %  
Sunoco Logistics Partners, L.P. (equity)     7.6   2.9 %  
El Paso Corp. (fixed income)     7.0   2.7 %  
Midcontinent Express Pipelines (fixed income)     6.8   2.6 %  
CMS Energy Corp. (fixed income)     6.7   2.5 %  
DCP Midstream LLC (fixed income)     6.5   2.5 %  
Targa Resources Partners, L.P. (equity)     6.4   2.4 %  
NRG Energy Inc. (fixed income)     6.3   2.4 %  
Total   $ 93.6   35.5 %  

(1) Percent of Investments and Cash Equivalents

About Tortoise Power and Energy Infrastructure Fund, Inc.

Tortoise Power and Energy Infrastructure Fund, Inc. (TPZ) invests in a portfolio of fixed income and equity securities issued by power and energy infrastructure companies. TPZ‘s objective is to provide stockholders a high level of current income, with a secondary objective of capital appreciation.

About Tortoise Capital Advisors, L.L.C.

Tortoise Capital Advisors, L.L.C. is an investment manager specializing in listed energy investments. As of July 31, 2014, the adviser had approximately $17.9 billion of assets under management in NYSE-listed closed-end investment companies, open-end funds and other accounts. For more information, visit www.tortoiseadvisors.com.

Safe harbor statement

This press release shall not constitute an offer to sell or a solicitation to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer or solicitation or sale would be unlawful prior to registration or qualification under the laws of such state or jurisdiction.

Forward-looking statement

This press release contains certain statements that may include “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, included herein are "forward-looking statements." Although the company and Tortoise Capital Advisors believe that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. Actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the company‘s reports that are filed with the Securities and Exchange Commission. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Other than as required by law, the company and Tortoise Capital Advisors do not assume a duty to update this forward-looking statement.



Tortoise Capital Advisors, L.L.C.
Pam Kearney, 866-362-9331
Investor Relations