TortoiseEcofin's Kessens: Expect double-digit returns from energy
The NAVigator
English - August 06, 2021 12:31 - 9 minutes - 8.95 MB - ★★★★★ - 5 ratingsInvesting Business closedendfunds Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
Previous Episode: BDC Reporter's Marshi sees a 'golden age' ahead
Portfolio manager Brian Kessens of Tortoise Ecofin, who oversees the closed-end Tortoise Pipeline and Energy, and the Tortoise Power and Energy Infrastructure Fund, says he expects double-digit total returns from midstream and other energy companies based on current high yields, supported by stock buybacks and debt paydowns. The energy sector had a rocky time through 2020 and has rebounded sharply, but Kessens says valuations generally remain reasonable and that 'as the market starts to appreciate some of these growth opportunities, there's further upside ahead.'