Reading the tape
NYSE: NDP
Tortoise Energy Independence Fund, Inc.
Financial Services · Asset Management
Market Cap
$67.30M
52w High
$45.40
52w Low
$28.27
P/E
-113.33
Volume
9.31K
Outstanding Shares
1.67M
Not enough data to analyse price vs. fundamentals for this ticker.
Company profile
Tortoise Energy Independence Fund, Inc. is a close ended equity mutual fund launched and managed by Tortoise Capital Advisors L.L.C.
CEOTerry Clyde Matlack
SectorFinancial Services
IndustryAsset Management
Employees—
IPO dateJul 27, 2012
Valuation
Forward P/E—
EV/EBITDA-96.04
Enterprise value$57.03M
Price / Book1.14
Stock splits
May 1, 2020↓ Reverse
Every 8 shares became 1
Profitability & growth
Standard profitability metrics can be misleading for financial/insurance companies. GAAP requires unrealized investment gains/losses in net income (affecting ROE), and margins are blended across diverse business segments.
Revenue growth-73.45%
Gross margin100%▲2.44%vs FY2022
Operating margin28.58%▼71.34%vs FY2022
ROE-1.01%▼102.41%vs FY2022
Analyst consensus
Rating—
Target price—
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
Jul 10, 2024
Q3 FY24 · EPS est — · Revenue est —
View
Dividends
$2.15/shareQuarterlyStretchedNDP pays a dividend with a 5.31% dividend yield, covered 0.5× by free cash flow.
Dividend Yield
5.31%
Annual Div / Share
$2.15
5yr CAGR
-28.29%
Dividend has been cut
Payout Ratio
—
Stretched
Dividend Growth Rate
3yr CAGR
-1.14%
5yr CAGR
-28.29%
10yr CAGR
-17.11%
Dividend Safety
2/10Stretched
Dividend History
Annualized dividend cycles per share
YearAnnual DivYoY
2024$2.15-14.9%
2023$2.52+21.2%
2022$2.08-6.3%
2021$2.22-80.4%
2019$11.31-19.3%
2018$14.02+0.0%
2017$14.02+0.0%
Income Projection
Invest
$
Growth rate:
Reinvest dividends
Today
$53/yr
$4/mo
In 5 yrs
$53/yr
$4/mo
In 10 yrs
$53/yr
$4/mo
| Today | In 5 yrs | In 10 yrs |
|---|---|---|
$53/yr $4/mo | $53/yr $4/mo | $53/yr $4/mo |
Analysis
Dividend Strengths
No strong strength signal stands out from the latest period pair.
Risks to Watch
Dividend exceeds free cash flow
Free cash flow covers only 0.53× the dividend. The company is paying out more than it generates in cash, which is unsustainable without borrowing or asset sales.
Dividend has been reduced
The 5-year dividend CAGR of -28.29% is negative, indicating the payout has been cut over this period.