ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of December 31, 2020

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) reported its unaudited assets and liabilities as of December 31, 2020. The Fund's net assets totaled $137.3 million with a net asset value per share of $18.87. It exhibited strong asset coverage ratios: 427% for senior debt and 343% for total leverage. Total assets amount to $194.5 million, while total liabilities were only $0.8 million. The Fund repurchased 96,242 shares for $1,533,876 during December 2020.

Positive

• Net assets increased to $137.3 million.
• Strong asset coverage ratios: 427% (senior debt) and 343% (total leverage).
• Total liabilities are exceptionally low at $0.8 million.
• Successful share repurchase with 96,242 shares retired.

Negative

• None.

ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of December 31, 2020.

As of December 31, 2020, the Fund’s net assets were $137.3 million, and its net asset value per share was $18.87. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 427% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 343%.

	As of December 31, 2020
	Amount (millions)		Per Share
Investments	$ 187.6		$ 25.79
Cash and Cash Equivalents	6.6		0.91
Other Assets	0.3		0.04
Total Assets	$ 194.5		$ 26.74
Senior Notes*	$ 27.4		$ 3.77
Loans Outstanding*	18.0		2.47
Mandatory Redeemable Preferred Shares*	11.0		1.51
Total Leverage	$ 56.4		$ 7.75
Income Tax Payable	$ 0.1		$ 0.02
Deferred Tax Liability	-		-
Other Liabilities	0.7		0.10
Total Liabilities	$ 0.8		$ 0.12
Net Assets	$ 137.3		$ 18.87
Outstanding Shares	7,274,093
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 427%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 343%.
Top Ten Equity Holdings (as of December 31, 2020)**
	Market Value
Name	(millions)		% of Investments	***
Enterprise Products Partners LP	$ 16.2		8.6%
Targa Resources Corp.	$ 13.6		7.3%
MPLX LP	$ 12.7		6.8%
Magellan Midstream Partners LP	$ 10.2		5.4%
Western Midstream Partners LP	$ 9.2		4.9%
Energy Transfer LP	$ 9.1		4.9%
Williams Cos. Inc.	$ 8.7		4.6%
Delek Logistics Partners LP	$ 8.6		4.6%
Enable Midstream Partners LP	$ 8.3		4.4%
ONEOK Inc.	$ 8.2		4.4%
	$ 104.8		55.9%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended December 31, 2020, the Fund repurchased in the open market and retired 96,242 of its common shares under the stock repurchase plan for a total amount of $1,533,876.

ClearBridge MLP and Midstream Total Return 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 wholly-owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).

On July 31, 2020, Franklin Resources acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash transaction. As a result of the transaction, LMPFA and ClearBridge, p

FAQ

What are the net assets of ClearBridge MLP and Midstream Total Return Fund as of December 31, 2020?

The net assets of the Fund were $137.3 million as of December 31, 2020.

What is the net asset value per share for CTR?

The net asset value per share for ClearBridge MLP and Midstream Total Return Fund is $18.87.

What are the asset coverage ratios for CTR?

The asset coverage ratio for senior indebtedness was 427%, and for total leverage, it was 343% as of December 31, 2020.

How many shares did CTR repurchase in December 2020?

The Fund repurchased 96,242 shares for a total amount of $1,533,876 in December 2020.

What were the total assets and liabilities for CTR as of December 31, 2020?

Total assets were $194.5 million, while total liabilities were only $0.8 million as of December 31, 2020.