ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of February 28, 2023

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) reported its assets and liabilities as of February 28, 2023. The Fund's net assets totaled $246.6 million, with a net asset value per share of $35.64. Its asset coverage ratios stood at 421% for senior indebtedness and 341% for total leverage under the Investment Company Act of 1940. The Fund's total investments amounted to $347.4 million, including cash equivalents of $3.3 million. The Fund has 6,919,829 outstanding shares. This financial information is unaudited and reflects the Fund's position as a closed-end investment company managed by Legg Mason Partners Fund Advisor and ClearBridge Investments.

Positive

• Net assets of $246.6 million, indicating financial stability.
• Net asset value per share of $35.64, suggesting healthy valuation.
• Strong asset coverage ratios: 421% for senior debt and 341% for total leverage.

Negative

• Total investments of $347.4 million are relatively close to net assets, indicating lower liquidity.

NEW YORK--(BUSINESS WIRE)-- 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 February 28, 2023.

As of February 28, 2023, the Fund’s net assets were $246.6 million, and its net asset value per share was $35.64. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 421% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 341%.

	As of February 28, 2023
	Amount (millions)			Per Share
Investments	$	347.4		$	50.21
Cash and Cash Equivalents		3.3			0.48
Other Assets		0.8			0.12
Total Assets	$	351.5		$	50.81
Senior Notes*	$	25.8		$	3.73
Loans Outstanding*		57.0			8.24
Mandatory Redeemable Preferred Shares*		19.5			2.82
Total Leverage	$	102.3		$	14.79
Other Liabilities	$	2.6		$	0.38
Total Liabilities	$	2.6		$	0.38
Net Assets	$	246.6		$	35.64
Outstanding Shares		6,919,829
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 421%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 341%.
Top Ten Equity Holdings (as of February 28, 2023)**
	Market Value
Name	(millions)			% of Investments			***
Energy Transfer LP	$	27.9			8.0	%
MPLX LP	$	27.1			7.8	%
Targa Resources Corp.	$	24.2			7.0	%
Enterprise Products Partners LP	$	23.4			6.7	%
Western Midstream Partners LP	$	23.2			6.7	%
Magellan Midstream Partners LP	$	19.4			5.6	%
DCP Midstream LP	$	17.3			5.0	%
Williams Cos. Inc.	$	17.0			4.9	%
Plains All American Pipeline LP	$	16.5			4.8	%
Plains GP Holdings LP	$	15.6			4.5	%
	$	211.6			61.0	%
** Subject to change at any time
*** Percent of Total Equity Investments

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 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/20230307005593/en/

Investor: Fund Investor Services 1-888-777-0102

Source: Franklin Resources, Inc. and Legg Mason Closed End Funds

FAQ

What are the net assets of ClearBridge MLP and Midstream Total Return Fund as of February 28, 2023?

The net assets of ClearBridge MLP and Midstream Total Return Fund are $246.6 million as of February 28, 2023.

What is the net asset value per share for CTR as of February 28, 2023?

The net asset value per share for CTR is $35.64 as of February 28, 2023.

What is the asset coverage ratio for ClearBridge MLP and Midstream Total Return Fund?

The asset coverage ratio is 421% for senior indebtedness and 341% for total leverage under the Investment Company Act of 1940.

How many outstanding shares does ClearBridge MLP and Midstream Total Return Fund have?

ClearBridge MLP and Midstream Total Return Fund has 6,919,829 outstanding shares.

What total investments does the ClearBridge MLP and Midstream Total Return Fund hold?

The total investments held by the Fund amount to $347.4 million.