ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of May 31, 2021

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund reported its unaudited assets as of May 31, 2021, showing net assets of $205.4 million and a net asset value per share of $28.86. The Fund’s asset coverage ratios were 464% for senior indebtedness and 392% for total leverage. Total assets amounted to $276.6 million, with significant investments in various midstream companies. The Fund also repurchased 2,149 common shares for $52,258 during the month.

Positive

• Net assets of $205.4 million indicate a strong financial position.
• High asset coverage ratios (464% for senior indebtedness, 392% for total leverage) suggest prudent leverage management.
• Diversified investments in top midstream companies like Enterprise Products Partners and MPLX, enhancing growth potential.

Negative

• Total liabilities are low, but the report lacks details on any potential risks or challenges.

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 May 31, 2021.

As of May 31, 2021, the Fund’s net assets were $205.4 million, and its net asset value per share was $28.86. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 464% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 392%.

	As of May 31, 2021
	Amount (millions)			Per Share
Investments	$	268.3		$	37.70
Cash and Cash Equivalents		3.1			0.44
Other Assets		5.2			0.73
Total Assets	$	276.6		$	38.87
Senior Notes*	$	27.4		$	3.85
Loans Outstanding*		32.0			4.50
Mandatory Redeemable Preferred Shares*		11.0			1.55
Total Leverage	$	70.4		$	9.90
Other Liabilities	$	0.8		$	0.11
Total Liabilities	$	0.8		$	0.11
Net Assets	$	205.4		$	28.86
Outstanding Shares		7,117,599
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 464%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 392%.
Top Ten Equity Holdings (as of May 31, 2021)**
	Market Value
Name	(millions)			% of Investments			***
Enterprise Products Partners LP	$	20.6			7.7	%
MPLX LP	$	20.3			7.6	%
Targa Resources Corp.	$	20.0			7.5	%
Western Midstream Partners LP	$	14.2			5.3	%
Williams Cos Inc.	$	13.6			5.1	%
Enable Midstream Partners LP	$	13.3			5.0	%
ONEOK Inc.	$	12.9			4.8	%
DCP Midstream Partners LP	$	12.6			4.7	%
Magellan Midstream Partners LP	$	11.8			4.4	%
Delek Logistics Partners LP	$	11.8			4.4	%
	$	151.1			56.5	%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended May 31, 2021, the Fund repurchased in the open market and retired 2,149 of its common shares under the stock repurchase plan for a total amount of $52,258.

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/20210607005351/en/

FAQ

What are the net assets of ClearBridge MLP and Midstream Total Return Fund as of May 31, 2021?

The net assets were $205.4 million.

What is the net asset value per share for CTR as of May 31, 2021?

The net asset value per share was $28.86.

What were the asset coverage ratios for CTR under the Investment Company Act of 1940?

The asset coverage ratio for senior indebtedness was 464%, and for total leverage, it was 392%.

How much did ClearBridge MLP and Midstream Total Return Fund repurchase in common shares in May 2021?

The Fund repurchased 2,149 common shares for a total amount of $52,258.

Which companies are the top investments in ClearBridge MLP and Midstream Total Return Fund?

Top investments include Enterprise Products Partners LP, MPLX LP, and Targa Resources Corp.