ClearBridge MLP and Midstream Fund Inc. Announces Unaudited Balance Sheet Information as of August 31, 2024
ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) has released its unaudited financial statement as of August 31, 2024. The Fund's net assets stood at $397.3 million, with a net asset value per share of $53.07. The Fund's asset coverage ratio under the 1940 Act was 653% for senior indebtedness and 385% for total leverage. Total assets were $562.3 million, with investments valued at $512.0 million. The Fund's top equity holding was Energy Transfer LP, representing 11.3% of investments. The top ten holdings accounted for 74.6% of total equity investments.
ClearBridge MLP e Midstream Fund Inc. (NYSE: CEM) ha pubblicato il suo bilancio non auditato al 31 agosto 2024. Gli attivi netti del Fondo ammontavano a $397.3 milioni, con un valore degli attivi netti per azione di $53.07. Il rapporto di copertura degli attivi del Fondo secondo la legge del 1940 era del 653% per indebitamento senior e del 385% per la leva totale. Gli attivi totali erano di $562.3 milioni, con investimenti valutati $512.0 milioni. Il principale investimento azionario del Fondo era Energy Transfer LP, che rappresentava il 11.3% degli investimenti. I primi dieci investimenti costituivano il 74.6% degli investimenti azionari totali.
ClearBridge MLP y Midstream Fund Inc. (NYSE: CEM) ha publicado su estado financiero no auditado al 31 de agosto de 2024. Los activos netos del fondo se situaron en $397.3 millones, con un valor neto de activos por acción de $53.07. La relación de cobertura de activos del fondo bajo la ley de 1940 fue del 653% para la deuda senior y del 385% para el apalancamiento total. Los activos totales fueron de $562.3 millones, con inversiones valoradas en $512.0 millones. La principal inversión en acciones del fondo fue Energy Transfer LP, que representó el 11.3% de las inversiones. Las diez principales inversiones representaron el 74.6% del total de inversiones en acciones.
ClearBridge MLP 및 Midstream Fund Inc. (NYSE: CEM)는 2024년 8월 31일 기준으로 감사받지 않은 재무 제표를 발표했습니다. 펀드의 순자산은 $397.3 백만에 달하며, 주당 순자산 가치는 $53.07입니다. 1940년 법에 따른 펀드의 자산 커버리지 비율은 고위험 채무에 대해 653%, 총 레버리지에 대해 385%였습니다. 총 자산 규모는 $562.3 백만이며, 투자 가치는 $512.0 백만에 달합니다. 펀드의 주요 주식 보유는 Energy Transfer LP로, 이는 총 투자에서 11.3%를 차지합니다. 상위 10개 보유 자산은 총 주식 투자에서 74.6%를 차지했습니다.
ClearBridge MLP et Midstream Fund Inc. (NYSE: CEM) a publié son état financier non audité au 31 août 2024. Les actifs nets du Fonds se s'élevaient à $397.3 millions, avec une valeur nette d’actif par action de $53.07. Le ratio de couverture des actifs du Fonds selon la loi de 1940 était de 653% pour les dettes senior et de 385% pour l’effet de levier total. Les actifs totaux s'élevaient à $562.3 millions, avec des investissements évalués à $512.0 millions. La principale participation en actions du Fonds était Energy Transfer LP, représentant 11.3% des investissements. Les dix principales participations représentaient 74.6% du total des investissements en actions.
ClearBridge MLP und Midstream Fund Inc. (NYSE: CEM) hat seinen nicht geprüften Finanzbericht zum 31. August 2024 veröffentlicht. Die Nettoaktiva des Fonds beliefen sich auf $397.3 Millionen, mit einem Nettovermögen pro Aktie von $53.07. Das Vermögensdeckungsverhältnis des Fonds gemäß dem Gesetz von 1940 betrug 653% bei seniorer Verschuldung und 385% bei der Gesamtverschuldung. Die Gesamtaktiva betrugen $562.3 Millionen, wobei die Investitionen mit $512.0 Millionen bewertet wurden. Die größte Aktienbeteiligung des Fonds war Energy Transfer LP, die 11.3% der Investitionen ausmachte. Die zehn größten Beteiligungen machten 74.6% der Gesamtausrüstungsinvestitionen aus.
- Net assets of $397.3 million, indicating substantial fund size
- Strong asset coverage ratio of 653% for senior indebtedness
- Diversified portfolio with top 10 holdings representing 74.6% of equity investments
- Significant cash and cash equivalents of $49.1 million, providing liquidity
- Total leverage of $139.6 million, which could increase risk in adverse market conditions
- Concentration risk with top holding (Energy Transfer LP) representing 11.3% of investments
As of August 31, 2024, the Fund’s net assets were
| As of August 31, 2024 | ||||||
| Amount (millions) | Per Share | |||||
| Investments | $ |
512.0 |
$ |
68.39 |
|
|
| Cash and Cash Equivalents |
|
49.1 |
|
6.56 |
|
|
| Other Assets |
|
1.2 |
|
0.16 |
|
|
| Total Assets | $ |
562.3 |
$ |
75.11 |
|
|
| Senior Notes* | $ |
28.2 |
$ |
3.77 |
|
|
| Loans Outstanding* |
|
54.0 |
|
7.21 |
|
|
| Mandatory Redeemable Preferred Shares* |
|
57.4 |
|
7.67 |
|
|
| Total Leverage | $ |
139.6 |
$ |
18.65 |
|
|
| Income Tax Payable | $ |
8.6 |
$ |
1.15 |
|
|
| Deferred Tax Liability |
|
12.6 |
|
1.68 |
|
|
| Other Liabilities |
|
4.2 |
|
0.56 |
|
|
| Total Liabilities | $ |
25.4 |
$ |
3.39 |
|
|
| Net Assets | $ |
397.3 |
$ |
53.07 |
|
|
| Outstanding Shares |
|
7,486,824 |
||||
| * The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was |
||||||
| * The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was |
||||||
| Top Ten Equity Holdings (as of August 31, 2024)** | ||||||
| Market Value | ||||||
| Name | (millions) | % of Investments*** |
||||
| Energy Transfer LP | $ |
57.9 |
|
11.3 |
% |
|
| ONEOK Inc. | $ |
53.3 |
|
10.4 |
% |
|
| MPLX LP | $ |
44.4 |
|
8.7 |
% |
|
| Targa Resources Corp. | $ |
42.8 |
|
8.4 |
% |
|
| Western Midstream Partners LP | $ |
40.4 |
|
7.9 |
% |
|
| Enterprise Products Partners LP | $ |
36.4 |
|
7.1 |
% |
|
| Williams Cos. Inc. | $ |
29.1 |
|
5.7 |
% |
|
| Plains GP Holdings LP | $ |
25.9 |
|
5.1 |
% |
|
| Plains All American Pipeline LP | $ |
25.6 |
|
5.0 |
% |
|
| Kinder Morgan Inc. | $ |
25.5 |
|
5.0 |
% |
|
$ |
381.3 |
|
74.6 |
% |
||
| ** 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 Franklin Templeton Fund Adviser, LLC (“FTFA”) (formerly known as Legg Mason Partners Fund Advisor, LLC) and subadvised by ClearBridge Investments, LLC (“ClearBridge”). FTFA 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.franklintempleton.com/investments/options/closed-end-funds. 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/20240906377726/en/
Investor Contact: Fund Investor Services 1-888-777-0102
Source: Franklin Resources, Inc. and Legg Mason Closed End Funds
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