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

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE:CTR) released its unaudited statement of assets and liabilities as of January 31, 2021. The Fund’s net assets totaled $148.0 million, with a net asset value per share of $20.38. Its asset coverage ratios under the Investment Company Act of 1940 were 435% for senior indebtedness and 353% for total leverage. Additionally, it repurchased and retired 10,706 shares for $175,213 during January 2021.

Positive

• Net assets increased to $148.0 million.
• Asset coverage ratio for senior indebtedness at a strong 435%.
• Asset coverage ratio for total leverage at 353%.
• Successful share repurchase program completed with 10,706 shares retired.

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 January 31, 2021.

As of January 31, 2021, the Fund’s net assets were $148.0 million, and its net asset value per share was $20.38. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 435% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 353%.

	As of January 31, 2021
	Amount (millions)			Per Share
Investments	$	198.9		$	27.38
Cash and Cash Equivalents		6.7			0.92
Other Assets		1.9			0.26
Total Assets	$	207.5		$	28.56
Senior Notes*	$	27.4		$	3.77
Loans Outstanding*		20.0			2.75
Mandatory Redeemable Preferred Shares*		11.0			1.51
Total Leverage	$	58.4		$	8.03
Income Tax Payable	$	0.1		$	0.01
Deferred Tax Liability		-			-
Other Liabilities		1.0			0.14
Total Liabilities	$	1.1		$	0.15
Net Assets	$	148.0		$	20.38
Outstanding Shares		7,263,387
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 435%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 353%.
Top Ten Equity Holdings (as of January 31, 2021)**
	Market Value
Name	(millions)			% of Investments***
Enterprise Products Partners LP	$	16.7			8.4%
Targa Resources Corp.	$	14.1			7.1%
MPLX LP	$	13.6			6.8%
Magellan Midstream Partners LP	$	10.7			5.4%
Delek Logistics Partners LP	$	10.3			5.2%
Western Midstream Partners LP	$	9.9			5.0%
Energy Transfer LP	$	9.3			4.7%
Williams Cos. Inc.	$	9.2			4.6%
DCP Midstream LP	$	8.6			4.3%
ONEOK Inc.	$	8.5			4.3%
	$	110.9			55.8%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended January 31, 2021, the Fund repurchased in the open market and retired 10,706 of its common shares under the stock repurchase plan for a total amount of $175,213.

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. (“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/20210205005172/en/

FAQ

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

The net assets totaled $148.0 million.

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

The net asset value per share is $20.38.

What were the asset coverage ratios for CTR on January 31, 2021?

The asset coverage ratio for senior indebtedness was 435%, and for total leverage was 353%.

How many shares did CTR repurchase in January 2021?

CTR repurchased and retired 10,706 shares.

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

The total amount spent was $175,213.