Definitive Analysis | Institutional-Grade Financial Research
Definitive Analysis
Get Full Access
See Pricing Start Free Trial

Tortoise Pipeline & Energy Fund, Inc. (TTP)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$39.17 - $51.12$45.47
Multi-Stage$81.04 - $89.83$85.34
Blended Fair Value$65.40
Current Price$34.70
Upside88.48%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017201620152014
DPS-21.29%-11.08%2.452.581.192.016.908.128.238.019.718.12
YoY Growth---5.00%117.16%-40.84%-70.87%-15.03%-1.35%2.78%-17.56%19.63%2.25%
Dividend Yield--8.39%9.53%4.50%9.99%17.49%13.88%12.16%9.33%19.34%6.93%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)23.90
(-) Cash Dividends Paid (M)4.81
(=) Cash Retained (M)19.09
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.782.991.79
Cash Retained (M)19.0919.0919.09
(-) Cash Required (M)-4.78-2.99-1.79
(=) Excess Retained (M)14.3116.1117.30
(/) Shares Outstanding (M)2.012.012.01
(=) Excess Retained per Share7.128.018.61
LTM Dividend per Share2.392.392.39
(+) Excess Retained per Share7.128.018.61
(=) Adjusted Dividend9.5110.4011.00
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-12.23%-11.23%-10.23%
Fair Value$39.17$45.47$51.12
Upside / Downside12.89%31.03%47.33%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)23.9021.2218.8316.7214.8413.1813.57
Payout Ratio20.11%34.09%48.07%62.05%76.02%90.00%92.50%
Projected Dividends (M)4.817.239.0510.3711.2811.8612.55

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.08%9.08%9.08%
Growth Rate-12.23%-11.23%-10.23%
Year 1 PV (M)6.566.636.71
Year 2 PV (M)7.447.617.78
Year 3 PV (M)7.737.998.27
Year 4 PV (M)7.627.978.34
Year 5 PV (M)7.267.688.12
PV of Terminal Value (M)126.34133.70141.40
Equity Value (M)162.93171.58180.61
Shares Outstanding (M)2.012.012.01
Fair Value$81.04$85.34$89.83
Upside / Downside133.54%145.94%158.88%

High-Yield Dividend Screener

« Prev Page 2 of 151 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
0081.HKChina Overseas Grand Oceans Group Limited15.97%$0.3160.87%
QRF.BRQrf Comm. VA15.92%$1.6488.42%
INC-UN.TOIncome Financial Trust15.90%$1.4843.23%
QRI.AXQualitas Real Estate Income Fund15.90%$0.2594.00%
9172.KLFormosa Prosonic Industries Berhad15.89%$0.1872.55%
1099.HKSinopharm Group Co. Ltd.15.88%$3.1363.13%
XBBDC.MCBanco Bradesco S.A.15.82%$0.4623.31%
LPIN.JKPT Multi Prima Sejahtera Tbk15.59%$69.5396.86%
LFG.AXLiberty Financial Group Limited15.46%$0.6679.98%
ALPDX.PAPiscines Desjoyaux S.A.15.43%$2.0088.06%
2660.HKZengame Technology Holding Limited15.29%$0.3942.93%
CD3.AXCD Private Equity Fund III15.14%$0.1791.41%
PAGSPagSeguro Digital Ltd.15.12%$1.4619.46%
0912.HKSuga International Holdings Limited15.10%$0.1669.91%
RUI.PARubis15.03%$4.8772.73%
WAM.AXWAM Capital Limited15.01%$0.2767.95%
0113.HKDickson Concepts (International) Limited15.00%$0.8467.46%
0830.HKChina State Construction Development Holdings Limited14.96%$0.1834.59%
FFARM.ASForFarmers N.V.14.96%$0.6785.82%
BM.BKBangkok Sheet Metal Public Company Limited14.94%$0.1777.02%
DGS.TODividend Growth Split Corp.14.90%$1.1529.30%
6110.HKTopsports International Holdings Limited14.83%$0.4376.21%
GLB.AXGlobe International Limited14.83%$0.3872.14%
MOT.AXMetrics Income Opportunities Trust14.82%$0.2879.33%
CIQ-UN.TOCanadian High Income Equity Fund14.80%$1.0424.28%
BBVA.DEBanco Bilbao Vizcaya Argentaria, S.A.14.69%$0.6438.92%
601169.SSBank of Beijing Co., Ltd.14.63%$0.8064.51%
0184.HKKeck Seng Investments (Hong Kong) Limited14.62%$0.3123.90%
0881.HKZhongsheng Group Holdings Limited14.56%$1.7065.93%
6626.HKYuexiu Services Group Limited14.51%$0.3664.32%
ALNU.MEPJSC ALROSA-Nyurba14.51%$9,491.6654.89%
NONG.OLSpareBank 1 Nord-Norge14.36%$21.7372.60%
0640.HKInfinity Development Holdings Company Limited14.32%$0.3651.92%
2558.HKJinshang Bank Co., Ltd.14.28%$0.2031.14%
0270.HKGuangdong Investment Limited14.27%$0.9899.44%
0517.HKCOSCO SHIPPING International (Hong Kong) Co., Ltd.14.01%$0.8888.71%
2560.HKAnhui Conch Material Technology Co Ltd14.01%$0.2449.79%
WTCM.MEJoint Stock Company "World Trade Center Moscow"13.98%$1.9924.33%
6186.HKChina Feihe Limited13.94%$0.5681.20%
601186.SSChina Railway Construction Corporation Limited13.92%$1.0764.40%
CFEB.BRCompagnie d'Entreprises CFE S.A.13.92%$1.2171.32%
PMV.AXPremier Investments Limited13.92%$1.9251.67%
601229.SSBank of Shanghai Co., Ltd.13.82%$1.4093.74%
2120.HKWenzhou Kangning Hospital Co., Ltd.13.78%$1.3769.01%
DLNGDynagas LNG Partners LP13.72%$0.5131.08%
MXT.AXMetrics Master Income Trust13.71%$0.2785.17%
0085.HKChina Electronics Huada Technology Company Limited13.70%$0.1947.52%
0046.HKComputer And Technologies Holdings Limited13.69%$0.2285.50%
601328.SSBank of Communications Co., Ltd.13.66%$0.9992.22%
AKER.OLAker ASA13.66%$106.4372.10%