Welcome to our dedicated page for ClearBridge MLP and Midstream Fund news (Ticker: CEM), a resource for investors and traders seeking the latest updates and insights on ClearBridge MLP and Midstream Fund stock.
ClearBridge MLP and Midstream Fund Inc. (symbol: CEM) is a non-diversified, closed-end management investment company committed to providing a high level of total return with an emphasis on cash distributions. The fund is managed by ClearBridge Investments, which is a part of Franklin Templeton following the merger with Legg Mason. This strategic alignment enhances the fund's access to extensive resources and market insights.
The Fund primarily invests in energy master limited partnerships (MLPs) and energy midstream entities. These investments focus on the transport, storage, and processing of energy commodities such as oil, natural gas, and refined petroleum products. By investing in these assets, ClearBridge MLP and Midstream Fund Inc. aims to capitalize on the operational efficiencies and growth potential of the energy infrastructure sector.
One of the Fund's recent achievements includes navigating the volatile energy market by strategically investing in resilient midstream companies that have shown strong cash flow generation capabilities. This approach ensures that even during periods of market uncertainty, the Fund's portfolio remains robust and capable of delivering consistent returns to its investors.
Current Projects: The Fund continues to focus on identifying high-quality MLPs and midstream companies that offer attractive valuation and growth prospects. This includes investing in infrastructure projects aimed at expanding capacity and enhancing the efficiency of energy transportation and storage.
Financial Condition: ClearBridge MLP and Midstream Fund Inc. maintains a diversified portfolio of investments within the energy sector, which provides a stable income stream through regular cash distributions. The Fund's disciplined investment strategy helps mitigate risk while enabling it to capitalize on favorable market conditions.
Partnerships and Products: As part of Franklin Templeton, ClearBridge MLP and Midstream Fund Inc. benefits from a global network of investment professionals and resources. This partnership enhances the Fund's ability to conduct thorough due diligence and leverage market opportunities effectively.
With a portfolio designed to generate substantial cash distributions and total returns, ClearBridge MLP and Midstream Fund Inc. offers a compelling investment opportunity for those seeking exposure to the energy infrastructure sector. Stay updated with the latest developments and performance metrics through our regular news updates.
ClearBridge MLP and Midstream Fund (NYSE: CEM) announced its unaudited financial data as of May 31, 2024. The fund reported net assets of $658.9 million and a net asset value (NAV) per share of $49.56. Total assets stood at $777.1 million, with major investments in companies like ONEOK Inc., Energy Transfer LP, and Targa Resources Corp. Cash and cash equivalents were at $127.1 million. The asset coverage ratio for senior indebtedness was 1,693%, and for total leverage, it was 744%. Key liabilities included senior notes worth $45 million and mandatory redeemable preferred shares valued at $57.4 million. The fund's top ten equity holdings constituted 77.2% of total equity investments.
ClearBridge MLP and Midstream Fund (NYSE: CEM) has announced details of its cash tender offer for up to 50% of its outstanding common stock. The offer price per share will be 100% of the Fund's net asset value (NAV) on the expiration day, June 20, 2024. If oversubscribed, shares will be repurchased on a pro rata basis. The Fund will reposition its portfolio to ensure it can pay proceeds promptly. The offer commenced on May 21, 2024. Investors should read the related SEC documentation for important information. There is no assurance that the repurchase will reduce or eliminate the Fund's market price discount to its NAV.
ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO), ClearBridge MLP and Midstream Fund (NYSE: CEM), and ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) announced the results of stockholder votes at a special meeting on May 17, 2024.
Stockholders approved the merger of CEM and CTR into EMO. Upon completion, CEM and CTR shares will convert into full shares of EMO based on net asset value, with cash paid for fractional shares.
EMO will issue new Mandatory Redeemable Preferred Stock (MRPS) to CEM and CTR holders, aligning voting rights. The funds are managed by Franklin Templeton Fund Adviser, with ClearBridge Investments as subadvisor. This move consolidates management under EMO, potentially streamlining operations and reducing costs.
ClearBridge MLP and Midstream Fund Inc. (NYSE: CEM) disclosed unaudited balance sheet data as of April 30, 2024, showing net assets of $649.6 million, net asset value per share at $48.87, with asset coverage ratios of 1,673% for senior indebtedness and 735% for total leverage under the 1940 Act. The fund's top ten equity holdings include Energy Transfer LP, ONEOK Inc., and Targa Resources Corp. among others.
Franklin Templeton Fund Adviser, announced distributions for May 2024 for closed end funds. Record Date: 5/23/2024, Ex-Dividend Date: 5/22/2024, Payable Date: 5/31/2024. Ticker Fund Name Amount: CEM ClearBridge MLP and Midstream Fund Inc. $0.7700, EMO ClearBridge Energy Midstream Opportunity Fund Inc. $0.6700, CTR ClearBridge MLP and Midstream Total Return Fund Inc. $0.7000. Distributions may be dividend income, return of capital, or a combination. Stockholders will receive Form 1099-DIV in early 2025 for tax reporting. Franklin Templeton Fund Adviser, is a subsidiary of Franklin Resources, Inc. Fund share price fluctuates with market conditions. Shares often trade at a discount. All investments carry risk.
FAQ
What is the current stock price of ClearBridge MLP and Midstream Fund (CEM)?
What is the market cap of ClearBridge MLP and Midstream Fund (CEM)?
What is the primary investment objective of ClearBridge MLP and Midstream Fund Inc.?
What types of investments does the Fund focus on?
Who manages ClearBridge MLP and Midstream Fund Inc.?
How does the Fund aim to achieve its investment objective?
What are some recent achievements of the Fund?
What is the financial condition of the Fund?
How does the partnership with Franklin Templeton benefit the Fund?
What are the current projects of the Fund?
How can investors stay updated with the latest performance metrics?
What is the significance of the Fund's investment strategy?
