ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of April 30, 2021

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) announced its unaudited asset figures as of April 30, 2021. The Fund's net assets stood at $188.7 million, with a net asset value per share of $26.50. The asset coverage ratio for senior indebtedness was an impressive 467%, while total leverage reflected a 388% ratio. Total assets reached $254.8 million, with significant investments in major entities like Enterprise Products Partners and MPLX. The Fund repurchased 52,090 shares during the month, totaling $1,082,449.

Positive

• Net assets valued at $188.7 million, indicating strong financial standing.
• Impressive asset coverage ratio of 467% for senior indebtedness, demonstrating debt management strength.
• Total assets at $254.8 million, showcasing good asset accumulation.
• Successful share repurchase of 52,090 shares totaling $1,082,449, indicating confidence in the Fund's value.

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 April 30, 2021.

As of April 30, 2021, the Fund’s net assets were $188.7 million, and its net asset value per share was $26.50. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 467% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 388%.

	As of April 30, 2021
	Amount (millions)			Per Share
Investments	$	249.6		$	35.06
Cash and Cash Equivalents		1.8			0.25
Other Assets		3.4			0.48
Total Assets	$	254.8		$	35.79
Senior Notes*	$	27.4		$	3.85
Loans Outstanding*		27.0			3.79
Mandatory Redeemable Preferred Shares*		11.0			1.55
Total Leverage	$	65.4		$	9.19
Other Liabilities	$	0.7		$	0.10
Total Liabilities	$	0.7		$	0.10
Net Assets	$	188.7		$	26.50
Outstanding Shares		7,119,748
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 467%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 388%.
Top Ten Equity Holdings (as of April 30, 2021)**
	Market Value
Name	(millions)			% of Investments		***
Enterprise Products Partners LP	$	19.4			7.8%
MPLX LP	$	18.5			7.4%
Targa Resources Corp.	$	17.9			7.2%
Western Midstream Partners LP	$	13.4			5.4%
Energy Transfer LP	$	12.7			5.1%
ONEOK Inc.	$	12.6			5.0%
Enable Midstream Partners LP	$	11.6			4.7%
DCP Midstream Partners LP	$	11.3			4.5%
Magellan Midstream Partners LP	$	11.2			4.5%
Delek Logistics Partners LP	$	11.2			4.5%
	$	139.8			56.1%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended April 30, 2021, the Fund repurchased in the open market and retired 52,090 of its common shares under the stock repurchase plan for a total amount of $1,082,449.

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.lmcef.com. 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/20210507005162/en/

FAQ

What are the net assets of ClearBridge MLP and Midstream Total Return Fund as of April 30, 2021?

The net assets of the Fund as of April 30, 2021, were $188.7 million.

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

The asset coverage ratio for senior indebtedness was 467%, while the total leverage ratio was 388%.

What was the net asset value per share for CTR as of April 30, 2021?

The net asset value per share was $26.50.

How many shares did ClearBridge MLP and Midstream Total Return Fund repurchase in April 2021?

The Fund repurchased 52,090 shares during the month.

What was the total amount spent on share repurchases by CTR in April 2021?

The total amount spent on share repurchases was $1,082,449.