UPDATE: Bank of America Downgrades Tortoise MLP Fund to Neutral on Risk/Reward

Bank of America lowered its rating on Tortoise MLP Fund

from Buy to Neutral based on a risk to reward profile that now appears balanced. Bank of America commented, "We are downgrading NTG to Neutral (from Buy) based on a balanced risk/reward profile. We believe NTG's current dividend yield of 6.4% (versus the 6.2% yield for the Alerian MLP Index (AMZ)) reflects its positive attributes, which include 1) slightly lower leverage compare to its peers and 2) portfolio should be supported by investments in MLPs with visible capital programs in liquids-rich regions. We recognize ongoing investor concerns regarding weak natural gas liquids (NGL) prices impacting more commodity sensitive MLPs held within NTG's portfolio." Tortoise MLP Fund closed at $26.37 on Thursday.