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

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) reported its financials as of December 31, 2022. The Fund’s net assets totaled $241.3 million, with a net asset value per share of $34.87. It reported an asset coverage ratio of 415% for senior debt and 336% for total leverage. During December, the Fund repurchased and retired 81,915 shares for $2,345,694. ClearBridge is advised by Legg Mason Partners and subadvised by ClearBridge Investments, both subsidiaries of Franklin Resources. This report includes unaudited data.

Positive

• Net assets of $241.3 million and a net asset value per share of $34.87.
• Strong asset coverage ratios of 415% for senior debt and 336% for total leverage.
• Successful share repurchase program, retiring 81,915 shares for $2,345,694.

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 December 31, 2022.

As of December 31, 2022, the Fund’s net assets were $241.3 million, and its net asset value per share was $34.87. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 415% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 336%.

	As of December 31, 2022
	Amount (millions)			Per Share
Investments	$	333.5		$	48.20
Cash and Cash Equivalents		11.1			1.60
Other Assets		0.6			0.09
Total Assets	$	345.2		$	49.89
Senior Notes*	$	25.8		$	3.73
Loans Outstanding*		57.0			8.24
Mandatory Redeemable Preferred Shares*		19.5			2.82
Total Leverage	$	102.3		$	14.79
Other Liabilities	$	1.6		$	0.23
Total Liabilities	$	1.6		$	0.23
Net Assets	$	241.3		$	34.87
Outstanding Shares		6,919,829
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 415%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 336%.
Top Ten Equity Holdings (as of December 31, 2022)**
	Market Value
Name	(millions)			% of Investments			***
MPLX LP	$	25.5			7.6	%
Energy Transfer LP	$	25.3			7.6	%
Targa Resources Corp.	$	24.0			7.2	%
Western Midstream Partners LP	$	23.5			7.1	%
Enterprise Products Partners LP	$	21.0			6.3	%
Williams Cos. Inc.	$	18.5			5.6	%
Magellan Midstream Partners LP	$	18.3			5.5	%
DCP Midstream LP	$	16.0			4.8	%
ONEOK Inc.	$	14.1			4.2	%
Kinder Morgan Inc.	$	13.6			4.1	%
	$	199.8			60.0	%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended December 31, 2022, the Fund repurchased in the open market and retired 81,915 of its common shares under the stock repurchase plan for a total amount of $2,345,694.

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/20230109005382/en/

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

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

FAQ

What are the net assets of ClearBridge MLP and Midstream Total Return Fund (CTR) as of December 31, 2022?

As of December 31, 2022, the net assets of ClearBridge MLP and Midstream Total Return Fund (CTR) were $241.3 million.

What is the net asset value per share for CTR as of December 31, 2022?

The net asset value per share for CTR as of December 31, 2022, is $34.87.

What is the asset coverage ratio of ClearBridge Fund (CTR) for senior indebtedness?

The asset coverage ratio for senior indebtedness of ClearBridge Fund (CTR) is 415% as of December 31, 2022.

How many shares did CTR repurchase in December 2022?

In December 2022, CTR repurchased and retired 81,915 shares.

What amount did CTR spend on share repurchases in December 2022?

CTR spent $2,345,694 on share repurchases in December 2022.