First Trust MLP and Energy Income Fund
FEI
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- James M. Dykas
- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- 120 East Liberty Drive Wheaton IL United States of America 60187
- IPO Date
- Nov 28, 2012
- CIK
- 0001556336
- Website
- ftportfolios.com
- Similar Companies
- Business
- First Trust MLP and Energy Income Fund (FEI) is a closed-end fund that seeks high current income and relative price appreciation by investing primarily in equity and debt securities of master limited partnerships (MLPs) and MLP-related entities within the energy and energy utilities sectors of the United States; it also allocates to dividend-paying growth stocks of energy infrastructure companies, including pipelines, storage facilities, and midstream operators. The fund employs a balanced strategy across public equity and fixed income markets, focusing on income-producing assets such as those operated by Enterprise Products Partners, Energy Transfer, and ONEOK, with an emphasis on tax-efficient structures and portfolio rebalancing to mitigate volatility. Managed by First Trust Advisors L.P. and co-managed by Energy Income Partners LLC, FEI targets institutional and retail investors seeking yield from North American energy infrastructure. Launched on August 17, 2012, and headquartered in Wheaton, Illinois, the fund operated until May 6, 2024, when it merged with three affiliated closed-end funds—First Trust Energy Income and Growth Fund (FEN), First Trust New Opportunities MLP & Energy Fund (FPL), and First Trust Energy Infrastructure Fund (FIF)—into the newly formed FT Energy Income Partners Enhanced Income ETF (EIPI), traded on NYSE Arca under ticker EIPI. This tax-free reorganization, approved by shareholders on February 29, 2024, and driven in part by activist investor Saba Capital, converted the structure from closed-end to open-end ETF, providing shareholders with liquidity at net asset value via an exchange ratio of 0.541658 EIPI shares per FEI share, while repositioning portfolios to emphasize equity securities in the broader energy market supplemented by call option sales for enhanced income. Post-merger, EIPI continues the energy income strategy with de-leveraged holdings aligned to lower expense ratios and reduced borrowing-related volatility, though it has experienced initial asset outflows of approximately $200 million.