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

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund Inc. (NYSE: CTR) reported its unaudited net assets as of May 31, 2022, totaling $271.1 million, with a net asset value per share of $38.72. The fund’s asset coverage ratios were reported at 403% for senior indebtedness and 369% for total leverage. It also repurchased 28,000 of its common shares for $827,443 during May. The fund is managed by Legg Mason Partners Fund Advisor and subadvised by ClearBridge Investments, both subsidiaries of Franklin Resources.

Positive

• Net assets reported at $271.1 million as of May 31, 2022.
• Net asset value per share increased to $38.72.
• Strong asset coverage ratios at 403% for senior debt and 369% for total leverage.
• Successful repurchase of 28,000 common shares for $827,443.

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 May 31, 2022.

As of May 31, 2022, the Fund’s net assets were $271.1 million, and its net asset value per share was $38.72. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 403% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 369%.

		As of May 31, 2022
		Amount (millions)			Per Share
Investments		$	364.5		$	52.05
Cash and Cash Equivalents			3.8			0.54
Other Assets			4.6			0.66
Total Assets		$	372.9		$	53.25
Senior Notes*		$	27.4		$	3.91
Loans Outstanding*			65.0			9.28
Mandatory Redeemable Preferred Shares*			8.5			1.21
Total Leverage		$	100.9		$	14.40
Other Liabilities		$	0.9		$	0.13
Total Liabilities		$	0.9		$	0.13
Net Assets		$	271.1		$	38.72
Outstanding Shares			7,001,744
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 403%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 369%.
Top Ten Equity Holdings (as of May 31, 2022)**
		Market Value
Name		(millions)			% of Investments			***
Energy Transfer LP		$	29.2			8.0	%
MPLX LP		$	28.9			7.9	%
Targa Resources Corp.		$	27.4			7.5	%
Enterprise Products Partners LP		$	26.5			7.3	%
Western Midstream Partners LP		$	26.1			7.1	%
Williams Cos. Inc.		$	19.2			5.3	%
Magellan Midstream Partners LP		$	19.0			5.2	%
DCP Midstream LP		$	18.8			5.1	%
ONEOK Inc.		$	16.5			4.5	%
Plains All American Pipeline LP		$	16.3			4.5	%
		$	227.9			62.4	%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended May 31, 2022, the Fund repurchased in the open market and retired 28,000 of its common shares under the stock repurchase plan for a total amount of $827,443.

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/20220607005679/en/

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

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

FAQ

What is the net asset value per share for ClearBridge MLP and Midstream Total Return Fund Inc. as of May 31, 2022?

The net asset value per share is $38.72.

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

The asset coverage ratios are 403% for senior indebtedness and 369% for total leverage.

How much did ClearBridge MLP and Midstream Total Return Fund Inc. repurchase in common shares in May 2022?

The fund repurchased 28,000 common shares for a total amount of $827,443.

What were the total net assets of ClearBridge MLP and Midstream Total Return Fund Inc. as of May 31, 2022?

The total net assets were $271.1 million.