ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of June 30, 2022

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) reported its unaudited financials as of June 30, 2022. The Fund holds $221.2 million in net assets, translating to a net asset value per share of $31.59. Its asset coverage ratios are notably robust at 379% for senior indebtedness and 343% for total leverage. Total assets were reported at $313.1 million, with total liabilities of $90.9 million, indicating a strong financial position for investors and stakeholders.

Positive

• Strong asset coverage ratios: 379% for senior debt, 343% for total leverage.
• Net assets valued at $221.2 million, with a net asset value per share of $31.59.
• Total assets of $313.1 million representing a solid financial foundation.

Negative

• None.

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 June 30, 2022.

As of June 30, 2022, the Fund’s net assets were $221.2 million, and its net asset value per share was $31.59. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 379% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 343%.

	As of June 30, 2022
	Amount (millions)		Per Share
Investments	$                   302.6		$                 43.21
Cash and Cash Equivalents	6.5		0.93
Other Assets	4.0		0.57
Total Assets	$                   313.1		$                 44.71
Senior Notes*	$                     27.4		$                   3.91
Loans Outstanding*	55.0		7.86
Mandatory Redeemable Preferred Shares*	8.5		1.21
Total Leverage	$                     90.9		$                 12.98
Other Liabilities	$                       1.0		$                   0.14
Total Liabilities	$                       1.0		$                   0.14
Net Assets	$                   221.2		$                 31.59
Outstanding Shares	7,001,744
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 379%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 343%.
Top Ten Equity Holdings (as of June 30, 2022)**
	Market Value
Name	(millions)		% of Investments	***
Energy Transfer LP	$                     21.0		6.9%
MPLX LP	$                     20.6		6.8%
Western Midstream Partners LP	$                     20.1		6.7%
Enterprise Products Partners LP	$                     19.2		6.4%
Targa Resources Corp.	$                     18.9		6.2%
Magellan Midstream Partners LP	$                     17.0		5.6%
Williams Cos. Inc.	$                     16.2		5.3%
Delek Logistics Partners LP	$                     13.1		4.3%
Enbridge Inc.	$                     12.7		4.2%
DCP Midstream LP	$                     12.2		4.0%
	$                   171.0		56.4%
**    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/20220708005142/en/

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

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

FAQ

What is the net asset value of ClearBridge MLP and Midstream Total Return Fund as of June 30, 2022?

The net asset value per share is $31.59.

What are the asset coverage ratios for ClearBridge Fund as of June 30, 2022?

The asset coverage ratio is 379% for senior indebtedness and 343% for total leverage.

What are the total assets and liabilities of ClearBridge MLP and Midstream Total Return Fund?

Total assets are $313.1 million and total liabilities are $90.9 million.

How much are the net assets of ClearBridge Fund as of June 30, 2022?

The Fund's net assets are $221.2 million.

How many outstanding shares does ClearBridge Fund have?

There are 7,001,744 outstanding shares.