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

Rhea-AI Summary

ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) released its unaudited financial statement as of October 31, 2022, reporting net assets of $261.0 million and a net asset value per share of $37.27. The asset coverage ratio for the Fund's senior indebtedness stood at 425%, while the total leverage ratio was 386%. Investments totaled $348.5 million, with cash and cash equivalents at $2.0 million. The Fund maintains 7,001,744 outstanding shares, emphasizing its financial stability amidst market conditions.

Positive

• Net assets of $261.0 million indicating strong financial health.
• Net asset value per share at $37.27, reflecting value for shareholders.
• Asset coverage ratio for senior indebtedness at 425%, indicating robust leverage management.
• Total investments reached $348.5 million, showing a solid investment position.

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 October 31, 2022.

As of October 31, 2022, the Fund’s net assets were $261.0 million, and its net asset value per share was $37.27. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 425% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 386%.

	As of October 31, 2022
	Amount (millions)		Per Share
Investments	$                   348.5		$                 49.76
Cash and Cash Equivalents	2.0		0.29
Other Assets	3.4		0.48
Total Assets	$                   353.9		$                 50.53
Senior Notes*	$                     25.8		$                   3.68
Loans Outstanding*	57.0		8.14
Mandatory Redeemable Preferred Shares*	8.5		1.21
Total Leverage	$                     91.3		$                 13.03
Other Liabilities	$                       1.6		$                   0.23
Total Liabilities	$                       1.6		$                   0.23
Net Assets	$                   261.0		$                 37.27
Outstanding Shares	7,001,744
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 425%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 386%.
Top Ten Equity Holdings (as of October 31, 2022)**
	Market Value
Name	(millions)		% of Investments	***
Energy Transfer LP	$                     27.2		7.8%
Western Midstream Partners LP	$                     24.4		7.0%
MPLX LP	$                     23.1		6.6%
Targa Resources Corp.	$                     22.3		6.4%
Enterprise Products Partners LP	$                     21.0		6.0%
Magellan Midstream Partners LP	$                     19.7		5.6%
Williams Cos. Inc.	$                     18.4		5.3%
DCP Midstream LP	$                     16.4		4.7%
Delek Logistics Partners LP	$                     14.8		4.2%
Kinder Morgan Inc.	$                     13.7		3.9%
	$                   201.0		57.5%
**    Subject to change at any time
***   Percent of Total Equity Investments

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/20221107005523/en/

Investor Contact: 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 of ClearBridge MLP and Midstream Total Return Fund as of October 31, 2022?

The net asset value per share of the Fund is $37.27 as of October 31, 2022.

How much are the net assets of ClearBridge MLP and Midstream Total Return Fund?

The Fund's net assets total $261.0 million.

What is the asset coverage ratio for senior indebtedness for CTR?

The asset coverage ratio for senior indebtedness is 425%.

What total investments does the ClearBridge MLP and Midstream Total Return Fund hold?

The Fund holds total investments of $348.5 million.