ClearBridge MLP and Midstream Total Return Fund Inc. Announces Unaudited Balance Sheet Information as of February 28, 2021

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) released its unaudited financial statement as of February 28, 2021, showing net assets of $161.9 million and a net asset value per share of $22.35. The Fund reported an asset coverage ratio of 465% for senior indebtedness and 377% for total leverage. Total assets stood at $221.2 million, with $58.4 million in total leverage. The top equity holdings include Enterprise Products Partners LP and MPLX LP, representing 56.6% of total investments. The Fund repurchased 24,803 shares for $458,705.

Positive

• Net assets reported at $161.9 million.
• Strong asset coverage ratios: 465% for senior indebtedness and 377% for total leverage.
• Top ten equity holdings represent 56.6% of total investments.

Negative

• Total leverage at $58.4 million may indicate increased financial risk.

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 February 28, 2021.

As of February 28, 2021, the Fund’s net assets were $161.9 million, and its net asset value per share was $22.35. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 465% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 377%.

	As of February 28, 2021
	Amount (millions)			Per Share
Investments	$	218.6		$	30.18
Cash and Cash Equivalents		1.7			0.23
Other Assets		0.9			0.12
Total Assets	$	221.2		$	30.53
Senior Notes*	$	27.4		$	3.78
Loans Outstanding*		20.0			2.76
Mandatory Redeemable Preferred Shares*		11.0			1.52
Total Leverage	$	58.4		$	8.06
Income Tax Payable	$	0.1		$	0.01
Deferred Tax Liability		-			-
Other Liabilities		0.8			0.11
Total Liabilities	$	0.9		$	0.12
Net Assets	$	161.9		$	22.35
Outstanding Shares		7,243,049
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 465%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 377%.
Top Ten Equity Holdings (as of February 28, 2021)**
	Market Value
Name	(millions)			% of Investments		***
Enterprise Products Partners LP	$	17.9			8.2%
MPLX LP	$	16.0			7.3%
Targa Resources Corp.	$	15.9			7.3%
Energy Transfer LP	$	11.3			5.2%
Western Midstream Partners LP	$	11.1			5.1%
ONEOK Inc.	$	10.6			4.9%
Enable Midstream Partners LP	$	10.4			4.8%
Magellan Midstream Partners LP	$	10.0			4.6%
Delek Logistics Partners LP	$	9.9			4.6%
Williams Cos. Inc.	$	9.9			4.6%
	$	123.0			56.6%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended February 28, 2021, the Fund repurchased in the open market and retired 24,803 of its common shares under the stock repurchase plan for a total amount of $458,705.

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

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FAQ

What is the net asset value per share for CTR as of February 28, 2021?

The net asset value per share for CTR is $22.35 as of February 28, 2021.

What is CTR's total assets as of February 28, 2021?

CTR's total assets amounted to $221.2 million as of February 28, 2021.

What are the asset coverage ratios for CTR under the 1940 Act?

CTR reported an asset coverage ratio of 465% for senior indebtedness and 377% for total leverage.

How much did CTR repurchase in common shares under its stock repurchase plan?

CTR repurchased and retired 24,803 of its common shares for a total amount of $458,705.

Who manages the ClearBridge MLP and Midstream Total Return Fund?

The Fund is advised by Legg Mason Partners Fund Advisor and subadvised by ClearBridge Investments.