Market Overview

Tortoise Pipeline & Energy Fund, Inc. (TTP) Provides Unaudited Balance Sheet Information and Asset Coverage Ratio Update as of Aug. 31, 2018


Tortoise Pipeline & Energy Fund, Inc. (NYSE:TTP) today announced that
as of Aug. 31, 2018, the company's unaudited total assets were
approximately $268.5 million and its unaudited net asset value was
$196.1 million, or $19.58 per share.

As of Aug. 31, 2018, the company was in compliance with its asset
coverage ratios under the Investment Company Act of 1940 (the 1940 Act)
and basic maintenance covenants. The company's asset coverage ratio
under the 1940 Act with respect to senior securities representing
indebtedness was 487 percent, and its coverage ratio for preferred
shares was 377 percent. For more information on calculation of coverage
ratios, please refer to the company's most recent applicable prospectus.

Set forth below is a summary of the company's unaudited preliminary
balance sheet at Aug. 31, 2018 and a summary of its top 10 holdings.


Unaudited preliminary balance sheet


(in Millions)


Per Share

Investments $ 267.8 $ 26.74
Cash and Cash Equivalents 0.2 0.02
Receivable for Investments Sold 0.1 0.01
Other Assets



Total Assets



Credit Facility Borrowings 20.8 2.08
Senior Notes 34.0 3.39
Preferred Stock



Total Leverage



Other Liabilities




Net Assets $





10.02 million common shares currently outstanding.


Top 10 holdings (as of Aug. 31, 2018)







Market Value

(in Millions)


% of

Plains GP Holdings, L.P. PAGP $ 22.6 8.4 %
ONEOK, Inc. OKE 22.1 8.3 %
Tallgrass Energy, LP TGE 16.5 6.2 %
Energy Transfer Partners, L.P. ETP 16.1 6.0 %
TransCanada Corporation TRP 15.6 5.8 %
Targa Resources Corp. TRGP 15.4 5.8 %
Enbridge Inc. ENB 14.4 5.4 %
The Williams Companies, Inc. WMB 12.5 4.7 %
Enbridge Energy Management, L.L.C. EEQ 11.5 4.3 %
SemGroup Corporation SEMG











    Percent of Investments and Cash Equivalents.

Energy Value Chain Conference Call
Tortoise will host a
conference call on Oct. 24, 2018 at 3 p.m. Central to discuss the energy
sector and provide an update on the energy value chain and Tortoise's
investment outlook.

Toll Free Dial-In Number: (877) 407-9210
Replay Number: (877)
Replay ID: #21460 (available through Nov. 26, 2018)

About Tortoise Pipeline & Energy Fund, Inc.
Pipeline & Energy Fund, Inc. (NYSE:TTP) is a non-diversified,
closed-end management investment company that seeks to obtain a high
level of total return with an emphasis on current distributions. TTP
invests primarily in equity securities of pipeline companies that
transport natural gas, natural gas liquids (NGLs), crude oil and refined
products and, to a lesser extent, in other energy infrastructure

About Tortoise
Tortoise specializes in essential assets and
income. Tortoise invests in assets and services that serve essential
needs in society and can also serve essential client needs, such as
diversification and income. Tortoise's energy investing expertise across
the energy value chain, including infrastructure and MLPs, dates back
more than 15 years. Through a variety of investment vehicles, Tortoise
provides access to a wide range of client solutions, focused on their
evolving needs. For more information, please visit

Tortoise Capital Advisors is the Adviser to the Tortoise Pipeline &
Energy Fund, Inc.

Safe harbor statement
This press release shall not
constitute an offer to sell or a solicitation to buy, nor shall there be
any sale of these securities in any state or jurisdiction in which such
offer or solicitation or sale would be unlawful prior to registration or
qualification under the laws of such state or jurisdiction.

Forward-looking statement
This press release contains
certain statements that may include "forward-looking statements" within
the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, included herein are "forward-looking
statements." Although the company and Tortoise Capital Advisors believe
that the expectations reflected in these forward-looking statements are
reasonable, they do involve assumptions, risks and uncertainties, and
these expectations may prove to be incorrect. Actual results could
differ materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the company's reports that are filed with the Securities
and Exchange Commission. You should not place undue reliance on these
forward-looking statements, which speak only as of the date of this
press release. Other than as required by law, the company and Tortoise
Capital Advisors do not assume a duty to update this forward-looking

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