Tortoise Energy Independence Fund, (Tortoise Energy Independence Fund,) LT-Debt-to-Total-Asset : 0.13 (As of Nov. 2023)

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What is Tortoise Energy Independence Fund, LT-Debt-to-Total-Asset?

LT Debt to Total Assets is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. It is calculated as a company's Long-Term Debt & Capital Lease Obligationdivide by its Total Assets. Tortoise Energy Independence Fund,'s long-term debt to total assests ratio for the quarter that ended in Nov. 2023 was 0.13.

Tortoise Energy Independence Fund,'s long-term debt to total assets ratio increased from Nov. 2022 (0.05) to Nov. 2023 (0.13). It may suggest that Tortoise Energy Independence Fund, is progressively becoming more dependent on debt to grow their business.

Tortoise Energy Independence Fund, LT-Debt-to-Total-Asset Historical Data

The historical data trend for Tortoise Energy Independence Fund,'s LT-Debt-to-Total-Asset can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Tortoise Energy Independence Fund, LT-Debt-to-Total-Asset Chart

Tortoise Energy Independence Fund, Annual Data

Trend

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

LT-Debt-to-Total-Asset

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0.30

0.14

0.05

0.13

Tortoise Energy Independence Fund, Semi-Annual Data
	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
LT-Debt-to-Total-Asset	Get a 7-Day Free Trial								0.05	0.05	0.05	0.14	0.13

Tortoise Energy Independence Fund, LT-Debt-to-Total-Asset Calculation

Tortoise Energy Independence Fund,'s Long-Term Debt to Total Asset Ratio for the fiscal year that ended in Nov. 2023 is calculated as

LT Debt to Total Assets (A: Nov. 2023 )	=	Long-Term Debt & Capital Lease Obligation (A: Nov. 2023 )	/	Total Assets (A: Nov. 2023 )
	=	8.8	/	68.156
	=	0.13

Tortoise Energy Independence Fund,'s Long-Term Debt to Total Asset Ratio for the quarter that ended in Nov. 2023 is calculated as

LT Debt to Total Assets (Q: Nov. 2023 )	=	Long-Term Debt & Capital Lease Obligation (Q: Nov. 2023 )	/	Total Assets (Q: Nov. 2023 )
	=	8.8	/	68.156
	=	0.13

Tortoise Energy Independence Fund, (NYSE:NDP) LT-Debt-to-Total-Asset Explanation

LT Debt to Total Asset is a measurement representing the percentage of a corporation's assets that are financed with loans and financial obligations lasting more than one year. The ratio provides a general measure of the financial position of a company, including its ability to meet financial requirements for outstanding loans. A year-over-year decrease in this metric would suggest the company is progressively becoming less dependent on debt to grow their business.

Tortoise Energy Independence Fund, LT-Debt-to-Total-Asset Related Terms

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Tortoise Energy Independence Fund, (Tortoise Energy Independence Fund,) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Tortoise Energy Independence Fund, Inc. (NYSE:NDP) » Definitions » LT-Debt-to-Total-Asset

Comparable Companies

Traded in Other Exchanges

N/A

Address

6363 College Boulevard, Suite 100A, Overland Park, KS, USA, 66211

Website

https://www.tortoiseecofin.com

Tortoise Energy Independence Fund, Inc. is a non-diversified closed-end management investment company. Its primary investment objective to seek a high level of total return with an emphasis on current distributions. The fund invests primarily in equity securities of upstream North American energy companies that engage in the exploration and production of crude oil, condensate, natural gas and natural gas liquids that generally have a presence in North American oil and gas fields, including shale reservoirs.

Executives

Ciccotello Conrad S	director	5100 W. 115TH PLACE, LEAWOOD KS 66211
Jennifer Paquette	director	5100 W. 115TH PLACE, LEAWOOD KS 66211
H Kevin Birzer	director	5100 W. 115TH PLACE, LEAWOOD KS 66211
Rand C Berney	director	11550 ASH STREET, SUITE 300, LEAWOOD KS 66211
Alexandra Herger	director	5100 W. 115TH PLACE, LEAWOOD KS 66211
Matthew Sallee	other: Member of Investment Committee	5100 W. 115TH PLACE, LEAWOOD KS 66211
P. Bradley Adams	officer: Chief Financial Officer	5100 W. 115TH PLACE, LEAWOOD KS 66211
Brian Alan Kessens	other: Member of Investment Committee	5100 W. 115TH PLACE, LEAWOOD KS 66211
Shobana Gopal	officer: Vice President	5100 W. 115TH PLACE, LEAWOOD KS 66211
Sean Paul Wickliffe	officer: Vice President & Asst Treas.	6363 COLLEGE BOULEVARD, OVERLAND PARK KS 66211
Investors, Llp Bulldog	10 percent owner	PARK 80 WEST - PLAZA TWO, 250 PEHLE AVE. SUITE 708, SADDLE BROOK NJ 07663
Phillip Goldstein	10 percent owner	60 HERITAGE DRIVE, PLEASANTVILLE NY 10570
Andrew Dakos	10 percent owner	250 PEHLE AVE., SUITE 708, SADDLE BROOK NJ 07663
Aristides Fund Qp, Lp	10 percent owner	118 EAST MAIN STREET, SUITE 600, LOUISVILLE KY 40202
Aristides Fund Lp	10 percent owner	C/O ARISTIDES CAPITAL LLC, 118 EAST MAIN STREET, SUITE 600, LOUISVILLE KY 40202

Tortoise Energy Independence Fund, (Tortoise Energy Independence Fund,) Headlines

From GuruFocus

Bulldog Investors, LLP Acquires Shares in Tortoise Energy Independence Fund, Inc.

By GuruFocus Research • 07-19-2023

Saba Capital Management, L.P. Reduces Stake in Tortoise Energy Independence Fund, Inc.

By GuruFocus Research • 11-14-2023

Top 5 1st Quarter Trades of Bulldog Investors, LLP

By GuruFocus Research GuruFocus Editor • 05-15-2022

Tortoise Announces Termination of Proposed Merger of Tortoise Pipeline & Energy Fund, Inc. (TTP) and Tortoise Energy Independence Fund, Inc. (NDP)

By ACCESSWIRE ACCESSWIRE • 06-04-2021