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In a robust display of market confidence, Tortoise Energy Infrastructure Corp. (TYG) stock has soared to a 52-week high, reaching a price level of $46.35. The $793 million market cap company stands out with an attractive 9.7% dividend yield and a notably low P/E ratio of 4.7. This milestone underscores a significant period of growth for the company, which has witnessed an impressive 1-year change, climbing 71.9%. Investors have rallied behind TYG, buoyed by the broader energy sector's performance, as the company continues to capitalize on favorable market conditions and strategic initiatives that have propelled its stock to new heights over the past year. InvestingPro analysis reveals 8 additional key investment tips for TYG, including insights about its dividend sustainability and financial health metrics.
In other recent news, Tortoise Energy Infrastructure Corp. has postponed its Special Meeting of Stockholders to December 5, 2024. The decision was made to give stockholders more time to vote on a proposal, the details of which were not disclosed in the press release. The meeting, originally set to occur at the company's headquarters in Overland Park, Kansas, was convened and adjourned without any business being conducted.
The record date for determining eligible stockholders remains unchanged at August 27, 2024. During the adjournment, Tortoise Energy will continue to solicit votes from its stockholders regarding the proposal. The reconvened Special Meeting will be held at the same location. These are the most recent developments for Tortoise Energy Infrastructure Corp.
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