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

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) reported its financial position as of March 31, 2022, showcasing net assets of $257.9 million and a net asset value per share of $36.69. It reported an asset coverage ratio of 401% for senior indebtedness and 366% for total leverage. The fund's total assets stood at $355.5 million. During March, it repurchased 39,856 shares for $1.1 million under its stock repurchase program. The financial data remains unaudited.

Positive

• Net asset value per share: $36.69.
• Asset coverage ratio for senior debt at 401%.
• Total assets reached $355.5 million.
• Repurchased 39,856 shares for $1.1 million.

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 March 31, 2022.

As of March 31, 2022, the Fund’s net assets were $257.9 million, and its net asset value per share was $36.69. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 401% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 366%.

	As of March 31, 2022
	Amount (millions)			Per Share
Investments	$	346.8		$	49.34
Cash and Cash Equivalents		4.3			0.61
Other Assets		4.4			0.63
Total Assets	$	355.5		$	50.58
Senior Notes*	$	27.4		$	3.90
Loans Outstanding*		61.0			8.68
Mandatory Redeemable Preferred Shares*		8.5			1.21
Total Leverage	$	96.9		$	13.79
Other Liabilities	$	0.7		$	0.10
Total Liabilities	$	0.7		$	0.10
Net Assets	$	257.9		$	36.69
Outstanding Shares		7,029,744
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 401%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 366%.
Top Ten Equity Holdings (as of March 31, 2022)**
	Market Value
Name	(millions)			% of Investments		***
Targa Resources Corp.	$	28.7			8.3%
Energy Transfer LP	$	27.3			7.9%
MPLX LP	$	26.1			7.5%
Enterprise Products Partners LP	$	24.1			7.0%
Western Midstream Partners LP	$	23.4			6.7%
ONEOK Inc.	$	17.7			5.1%
DCP Midstream LP	$	17.5			5.1%
Williams Cos. Inc.	$	17.3			5.0%
Magellan Midstream Partners LP	$	15.6			4.5%
Plains All American Pipeline LP	$	14.6			4.2%
	$	212.3			61.3%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended March 31, 2022, the Fund repurchased in the open market and retired 39,856 of its common shares under the stock repurchase plan for a total amount of $1,105,480.

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/20220407005452/en/

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

 

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

FAQ

What was the net asset value per share of ClearBridge MLP and Midstream Total Return Fund as of March 31, 2022?

The net asset value per share was $36.69.

What are the asset coverage ratios for ClearBridge MLP and Midstream Total Return Fund?

The asset coverage ratio for senior indebtedness was 401%, and for total leverage, it was 366%.

What were the total assets reported by ClearBridge MLP and Midstream Total Return Fund as of March 31, 2022?

The total assets reached $355.5 million.

How many shares did ClearBridge MLP and Midstream Total Return Fund repurchase in March 2022?

The fund repurchased 39,856 shares.

What was the total amount spent on share repurchases by ClearBridge MLP and Midstream Total Return Fund in March 2022?

The total amount spent on share repurchases was $1,105,480.