ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of January 31, 2022

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) released its unaudited asset statement as of January 31, 2022. The Fund reported net assets totaling $232.2 million and a net asset value per share of $32.85. The asset coverage ratios were 458% for senior indebtedness and 394% for total leverage. Investments amounted to $303.7 million, with cash and equivalents at $1.8 million. The Fund's total leverage reached $78.9 million. The current outstanding shares stand at 7,069,600.

Positive

• Net assets of $232.2 million indicate strong financial health.
• Net asset value per share is $32.85, indicating robust share value.
• High asset coverage ratio of 458% for senior indebtedness suggests low risk of default.

Negative

• Total leverage of $78.9 million may concern investors regarding debt levels.

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 January 31, 2022.

As of January 31, 2022, the Fund’s net assets were $232.2 million, and its net asset value per share was $32.85. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 458% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 394%.

	As of January 31, 2022
	Amount (millions)			Per Share
Investments	$	303.7		$	42.97
Cash and Cash Equivalents		1.8			0.25
Other Assets		6.7			0.96
Total Assets	$	312.2		$	44.18
Senior Notes*	$	27.4		$	3.88
Loans Outstanding*		40.5			5.73
Mandatory Redeemable Preferred Shares*		11.0			1.56
Total Leverage	$	78.9		$	11.17
Other Liabilities	$	1.1		$	0.16
Total Liabilities	$	1.1		$	0.16
Net Assets	$	232.2		$	32.85
Outstanding Shares		7,069,600
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 458%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 394%.
Top Ten Equity Holdings (as of January 31, 2022)**
	Market Value
Name	(millions)			% of Investments		***
Energy Transfer LP	$	23.3			7.7%
MPLX LP	$	23.3			7.7%
Targa Resources Corp.	$	22.5			7.4%
Enterprise Products Partners LP	$	22.1			7.3%
Western Midstream Partners LP	$	19.1			6.3%
Williams Cos. Inc.	$	15.5			5.1%
ONEOK Inc.	$	15.2			5.0%
DCP Midstream LP	$	14.8			4.9%
Plains All American Pipeline LP	$	14.6			4.8%
Enbridge Inc.	$	12.7			4.2%
	$	183.1			60.4%
** 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/20220207005384/en/

Investor Contact: 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 January 31, 2022?

As of January 31, 2022, the net assets were $232.2 million.

What is the net asset value per share of CTR?

The net asset value per share of ClearBridge MLP and Midstream Total Return Fund is $32.85.

What was the asset coverage ratio for senior indebtedness for CTR?

The asset coverage ratio for senior indebtedness was 458% as of January 31, 2022.

How much total leverage does CTR have?

ClearBridge MLP and Midstream Total Return Fund has a total leverage of $78.9 million.

What is the total amount of investments held by CTR?

The total investments held by ClearBridge MLP and Midstream Total Return Fund amount to $303.7 million.