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

Tortoise Essential Energy Fund (TPZ)

Company Dividend Discount ModelIndustry: Asset ManagementSector: Financial Services

Valuation Snapshot

Stable Growth$26.85 - $38.64$32.60
Multi-Stage$45.89 - $50.26$48.04
Blended Fair Value$40.32
Current Price$15.45
Upside160.97%
DecisionBuy

Dividend History & Growth Metrics (10Y)

Metric5Y CAGR10Y CAGR2023202220212020201920182017
DPS-5.69%0.00%1.291.260.701.211.721.721.720.000.000.00
YoY Growth--2.35%79.38%-41.93%-30.01%0.00%0.00%0.00%0.00%0.00%0.00%
Dividend Yield--9.48%9.23%5.43%12.08%11.08%10.05%0.00%0.00%0.00%0.00%

Stable Growth Model (Adjusted)

(USD in Millions except Per Share Data)
Net Income To Common (M)22.97
(-) Cash Dividends Paid (M)15.57
(=) Cash Retained (M)7.41
MetricLOWBASEHIGH
Required Retention Ratio20.0%12.5%7.5%
(=) Cash Required (M)4.592.871.72
Cash Retained (M)7.417.417.41
(-) Cash Required (M)-4.59-2.87-1.72
(=) Excess Retained (M)2.814.535.68
(/) Shares Outstanding (M)6.056.056.05
(=) Excess Retained per Share0.470.750.94
LTM Dividend per Share2.582.582.58
(+) Excess Retained per Share0.470.750.94
(=) Adjusted Dividend3.043.333.52
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Fair Value$26.85$32.60$38.64
Upside / Downside73.77%111.02%150.09%

Multi-Stage Model: Projections

(USD in Millions)
MetricTTMDec-27Dec-28Dec-29Dec-30Dec-31Terminal
Net Income (M)22.9722.7422.5222.2922.0721.8522.50
Payout Ratio67.76%72.21%76.66%81.10%85.55%90.00%92.50%
Projected Dividends (M)15.5716.4217.2618.0818.8819.6620.82

Multi-Stage Valuation

MetricLOWBASEHIGH
WACC / Discount Rate9.10%9.10%9.10%
Growth Rate-2.00%-1.00%0.00%
Year 1 PV (M)14.9015.0515.21
Year 2 PV (M)14.2114.5014.80
Year 3 PV (M)13.5113.9214.35
Year 4 PV (M)12.8013.3313.87
Year 5 PV (M)12.0912.7213.38
PV of Terminal Value (M)209.93220.86232.25
Equity Value (M)277.44290.39303.85
Shares Outstanding (M)6.056.056.05
Fair Value$45.89$48.04$50.26
Upside / Downside197.05%210.92%225.33%

High-Yield Dividend Screener

« Prev Page 8 of 30 Next »
Ticker Company Dividend Yield % Dividend Per Share Payout Ratio %
ACICAmerican Coastal Insurance Corporation4.24%$0.4828.28%
NCDLNuveen Churchill Direct Lending Corp.4.24%$0.5730.88%
ESEversource Energy4.23%$2.8879.84%
ISBCInvestors Bancorp, Inc.4.21%$0.5844.24%
KMIKinder Morgan, Inc.4.21%$1.1795.05%
PWODPenns Woods Bancorp, Inc.4.17%$1.2545.44%
DDSDillard's, Inc.4.16%$26.5071.17%
RLIRLI Corp.4.16%$2.6067.96%
TFCTruist Financial Corporation4.16%$2.0753.19%
RMBIRichmond Mutual Bancorporation, Inc.4.15%$0.5854.33%
PRPermian Resources Corporation4.14%$0.6052.90%
RILYTB. Riley Financial, Inc. 6.00% Senior Notes Due 20284.13%$0.5856.91%
DGICADonegal Group Inc.4.12%$0.8028.85%
AUBNAuburn National Bancorporation, Inc.4.11%$1.0876.62%
FHBFirst Hawaiian, Inc.4.11%$1.0650.97%
PORPortland General Electric Company4.09%$1.9872.28%
NEWTLNewtek Business Services Corp.4.08%$1.0244.14%
NEWTGNewtekOne, Inc. 8.50% Fixed Rate Senior Notes due 20294.06%$1.0244.14%
NEWTZNewtek Business Services Corp. 5.50% Notes Due 20264.05%$1.0244.14%
LKQLKQ Corporation4.04%$1.2144.76%
NWENorthwestern Energy Group Inc4.04%$2.6274.07%
PXDPioneer Natural Resources Company4.00%$10.8054.25%
HAFCHanmi Financial Corporation3.99%$1.0744.22%
KSSKohl's Corporation3.99%$0.8550.52%
APAAPA Corporation3.98%$1.0124.12%
NWNNorthwest Natural Holding Company3.98%$1.8676.25%
HFWAHeritage Financial Corporation3.97%$0.9456.54%
WSBCWesBanco, Inc.3.97%$1.3265.39%
FULTFulton Financial Corporation3.96%$0.7739.22%
REYNReynolds Consumer Products Inc.3.96%$0.9163.16%
MSMMSC Industrial Direct Co., Inc.3.95%$3.3995.14%
RF-PFRegions Financial Corporation3.95%$1.0141.98%
NEWTINewtekOne, Inc. 8.00% Fixed Rate Senior Notes due 20283.94%$0.9942.24%
BOHBank of Hawaii Corporation3.93%$2.6958.42%
DCOMDime Community Bancshares, Inc.3.93%$1.1786.59%
OGEOGE Energy Corp.3.93%$1.6967.72%
ASIEXMultisector Income Fund - Investor Class3.92%$0.3596.64%
ESSEssex Property Trust, Inc.3.90%$10.0376.31%
WABCWestamerica Bancorporation3.90%$1.8639.32%
NJRNew Jersey Resources Corporation3.88%$1.7853.65%
XHRXenia Hotels & Resorts, Inc.3.88%$0.5693.99%
ARTNAArtesian Resources Corporation3.87%$1.2255.68%
FFBCFirst Financial Bancorp.3.87%$0.9738.17%
PNWPinnacle West Capital Corporation3.87%$3.4169.92%
UEUrban Edge Properties3.87%$0.7482.23%
NECBNortheast Community Bancorp, Inc.3.86%$0.8827.20%
SCSCXTouchstone Large Cap Focused Fund Class C3.86%$2.8037.43%
BBWIBath & Body Works, Inc.3.85%$0.8024.18%
BHBBar Harbor Bankshares3.85%$1.2054.11%
UGIUGI Corporation3.85%$1.4547.35%