ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of May 31, 2021

Rhea-AI Summary

ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) reported its unaudited statement of assets as of May 31, 2021, revealing net assets of $432.1 million and a net asset value per share of $31.78. The fund's asset coverage ratio was 478% for senior indebtedness and 344% for total leverage. Total assets reached $611.5 million with significant holdings including MPLX LP and Enterprise Products Partners LP. These figures emphasize the fund's financial stability despite market fluctuations.

Positive

• Net assets of $432.1 million indicate strong financial health.
• Net asset value per share stands at $31.78.
• Asset coverage ratio of 478% for senior indebtedness demonstrates robust leverage management.

Negative

• Total leverage of $177.2 million could indicate potential risks associated with market volatility.

ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of May 31, 2021.

As of May 31, 2021, the Fund’s net assets were $432.1 million, and its net asset value per share was $31.78.

The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 478% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 344%.

	As of May 31, 2021
	Amount (millions)			Per Share
Investments	$	592.2		$	43.55
Cash and Cash Equivalents		7.1			0.52
Other Assets		12.2			0.90
Total Assets	$	611.5		$	44.97
Senior Notes*	$	76.1		$	5.60
Loans Outstanding*		51.3			3.77
Mandatory Redeemable Preferred Shares*		49.8			3.66
Total Leverage	$	177.2		$	13.03
Other Liabilities	$	2.2		$	0.16
Total Liabilities	$	2.2		$	0.16
Net Assets	$	432.1		$	31.78
Outstanding Shares		13,595,347
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 478%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 344%.
Top Ten Equity Holdings (as of May 31, 2021)**
	Market Value
Name	(millions)			% of Investments				***
MPLX LP	$	50.0			8.4	%
Enterprise Products Partners LP	$	49.0			8.3	%
Williams Cos. Inc.	$	37.0			6.2	%
ONEOK Inc.	$	34.1			5.8	%
Targa Resources Corp.	$	32.9			5.6	%
Magellan Midstream Partners LP	$	32.5			5.5	%
Energy Transfer LP	$	31.7			5.4	%
DCP Midstream LP	$	30.2			5.1	%
Western Midstream Partners LP	$	29.0			4.9	%
Enbridge Inc.	$	25.0			4.2	%
	$	351.4			59.4	%
** Subject to change at any time
*** Percent of Total Equity Investments

ClearBridge MLP and Midstream Fund Inc. is a non-diversified, closed-end management investment company, which is advised by Legg Mason Partners Fund Advisor, LLC (“LMPFA”) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). LMPFA and ClearBridge are indirect, wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).

This financial data is unaudited.

The Fund files its semi-annual and annual reports with the Securities and Exchange Commission (“SEC”), as well as its complete schedule of portfolio holdings for the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. These reports are available on the SEC’s website at www.sec.gov. To obtain information on Form N-PORT or a semi-annual or annual report from the Fund, shareholders can call 1-888-777-0102.

For more information about the Fund, please call 1-888-777-0102 or consult the Fund’s website at www.lmcef.com. Hard copies of the Fund’s complete audited financial statements are available free of charge upon request.

Data and commentary provided in this press release are for informational purposes only. Franklin Resources and its affiliates do not engage in selling shares of the Fund.

Category: Financials

Source: Franklin Resources, Inc.

Source: Legg Mason Closed End Funds

View source version on businesswire.com: https://www.businesswire.com/news/home/20210607005359/en/

FAQ

What is ClearBridge MLP and Midstream Fund's net asset value as of May 31, 2021?

The net asset value per share is $31.78.

What were the total assets of the ClearBridge MLP and Midstream Fund as of May 31, 2021?

Total assets were $611.5 million.

What is the asset coverage ratio of ClearBridge MLP and Midstream Fund with respect to senior indebtedness?

The asset coverage ratio is 478%.

Who advises ClearBridge MLP and Midstream Fund?

The fund is advised by Legg Mason Partners Fund Advisor, LLC and subadvised by ClearBridge Investments, LLC.

How can shareholders obtain financial reports for ClearBridge MLP and Midstream Fund?

Shareholders can call 1-888-777-0102 or consult the fund's website for reports.