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

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) released its unaudited financials as of March 31, 2021. The Fund reported net assets of $174.4 million with a net asset value (NAV) per share of $24.32. Its asset coverage ratio for senior indebtedness was 441%, while total leverage stood at 367%. Additionally, the Fund repurchased 66,746 shares for a total of $1,339,397 during March. These figures reflect the Fund's performance and strategies in managing its investments.

Positive

• Net assets increased to $174.4 million.
• Net asset value per share is $24.32.
• Strong asset coverage ratio of 441% for senior indebtedness.
• Repurchased 66,746 shares for $1,339,397, indicating robust capital management.

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 March 31, 2021.

As of March 31, 2021, the Fund’s net assets were $174.4 million, and its net asset value per share was $24.32. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 441% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 367%.

	As of March 31, 2021
	Amount (millions)		Per Share
Investments	$ 235.8		$ 32.88
Cash and Cash Equivalents	3.1		0.43
Other Assets	1.5		0.21
Total Assets	$ 240.4		$ 33.52
Senior Notes*	$ 27.4		$ 3.82
Loans Outstanding*	27.0		3.77
Mandatory Redeemable Preferred Shares*	11.0		1.53
Total Leverage	$ 65.4		$ 9.12
Income Tax Payable	-		-
Deferred Tax Liability	-		-
Other Liabilities	$ 0.6		$ 0.08
Total Liabilities	$ 0.6		$ 0.08
Net Assets	$ 174.4		$ 24.32
Outstanding Shares	7,171,838
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 441%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 367%.
Top Ten Equity Holdings (as of March 31, 2021)**
	Market Value
Name	(millions)		% of Investments	***
Enterprise Products Partners LP	$ 18.5		7.9%
MPLX LP	$ 17.6		7.4%
Targa Resources Corp.	$ 16.4		6.9%
Western Midstream Partners LP	$ 12.7		5.4%
ONEOK Inc.	$ 12.2		5.2%
Energy Transfer LP	$ 11.3		4.8%
Williams Cos. Inc.	$ 10.9		4.6%
DCP Midstream Partners LP	$ 10.8		4.6%
Magellan Midstream Partners LP	$ 10.4		4.4%
Enable Midstream Partners LP	$ 10.2		4.3%
	$ 131.0		55.5%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended March 31, 2021, the Fund repurchased in the open market and retired 66,746 of its common shares under the stock repurchase plan for a total amount of $1,339,397.

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 wholly-owned subsidiaries of Franklin Resources, Inc.

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

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FAQ

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

The net assets of ClearBridge MLP and Midstream Total Return Fund were $174.4 million as of March 31, 2021.

What is the net asset value per share of CTR?

The net asset value (NAV) per share of ClearBridge MLP and Midstream Total Return Fund is $24.32.

How much did CTR repurchase in shares during March 2021?

During March 2021, CTR repurchased 66,746 shares for a total of $1,339,397.

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

The asset coverage ratio for senior indebtedness was 441%.

What is the total leverage ratio for ClearBridge MLP and Midstream Total Return Fund?

The total leverage ratio for the Fund was 367%.