Welcome to our dedicated page for ClearBridge MLP and Midstream Total Return Fund news (Ticker: CTR), a resource for investors and traders seeking the latest updates and insights on ClearBridge MLP and Midstream Total Return Fund stock.
ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) is a United States-based, non-diversified, closed-end management investment company. The company’s core objective is to offer a high level of total return consisting of both cash distributions and capital appreciation.
The fund mainly invests in master limited partnerships (MLPs) and entities in the energy sector, particularly focusing on midstream assets. These investments typically include pipelines, storage facilities, and processing plants that are essential for the transportation and storage of oil, natural gas, and other energy products.
Recent achievements of ClearBridge include strategic partnerships and investments in sustainable energy projects, enhancing the overall portfolio diversification. The team at ClearBridge continuously monitors the market to optimize returns while managing risks associated with energy sector volatility.
As a part of the Franklin Templeton group, following the merger with Legg Mason, ClearBridge benefits from the combined expertise and resources of both firms. This collaboration enables ClearBridge to leverage extensive research capabilities and a broader asset management infrastructure.
Financially, the company maintains a robust portfolio with a focus on generating steady income for its investors. It employs a disciplined investment approach, prioritizing quality assets with strong growth potential and reliable cash flows.
Overall, ClearBridge MLP and Midstream Total Return Fund Inc. is committed to delivering substantial returns to its investors through a balanced approach of income generation and capital appreciation, underpinned by strategic investments in essential energy infrastructure.
ClearBridge MLP and Midstream Fund Inc. (CEM), ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), and ClearBridge MLP and Midstream Total Return Fund Inc. (CTR) announced successful private placements of Mandatory Redeemable Preferred Stock (MRPS) on November 17, 2022, raising capital for corporate purposes and refinancing existing leverage. Key offerings include Series L and M for CEM and EMO, totaling approximately $15 million and $17 million, respectively, with rates of 7.12% and 7.28%. CTR issued Series E, raising $11 million at a 7.12% rate, maturing in 2029 and 2032.
Legg Mason Partners Fund Advisor announced the distribution details for certain closed-end funds for November 2022. The funds include ClearBridge MLP and Midstream Fund Inc. (CEM), ClearBridge Energy Midstream Opportunity Fund Inc. (EMO), and ClearBridge MLP and Midstream Total Return Fund Inc. (CTR). Key dates include the record date on November 22, 2022, ex-dividend date on November 21, 2022, and payable date on November 30, 2022. Each fund will distribute $0.6200 (CEM), $0.5200 (EMO), and $0.5400 (CTR) per share, marking a $0.0100 increase from previous distributions. Tax reporting details will follow in early 2023.
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.
ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) has reported its unaudited asset statement for September 30, 2022. The Fund's net assets stand at $223.6 million, with a net asset value per share of $31.93. The asset coverage ratios are 380% for senior indebtedness and 345% for total leverage. The Fund's total assets are valued at $315.6 million, with investments totaling $309.8 million.
This unaudited financial data reflects the Fund's strong leverage and asset management capabilities.
ClearBridge MLP and Midstream Total Return Fund reported its unaudited financials as of August 31, 2022. The Fund's net assets totaled $257.6 million with a net asset value per share of $36.79. The asset coverage ratio relative to senior indebtedness was 421%, while the total leverage ratio stood at 382%. Total assets amounted to $350 million, with investments of $347.8 million. Additionally, the Fund had 7,001,744 outstanding shares. This report is crucial for investors evaluating the Fund's financial health and leveraging metrics.
ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) released its unaudited financial data as of July 31, 2022. The Fund reported net assets of $252.9 million and a net asset value per share of $36.12. The asset coverage ratio for senior debt stood at 417%, while the total leverage coverage ratio was 378%. Total assets were $344.9 million, and investments amounted to $333.1 million. The Fund has 7,001,744 outstanding shares. This financial information is unaudited and is intended for informational purposes only.
Legg Mason Partners Fund Advisor announced August 2022 distributions for closed-end funds including CEM, EMO, and CTR. Key dates are the record date of August 24, 2022, ex-dividend date of August 23, 2022, and payable date of August 31, 2022. The distributions are $0.6100 for CEM, $0.5100 for EMO, and $0.5300 for CTR, each reflecting a $0.0100 increase from previous distributions. According to Portfolio Manager Chris Eades, midstream industry fundamentals are improving, leading to accelerated free cash flow and expected higher dividend growth.
ClearBridge MLP and Midstream Fund (CEM), ClearBridge Energy Opportunity Fund (EMO), and ClearBridge MLP and Midstream Total Return Fund (CTR) have announced the amendment of their share repurchase programs. Each Fund is authorized to repurchase an additional 10% of outstanding common stock whenever shares trade below net asset value (NAV). This initiative aims to enhance shareholder value by canceling repurchased shares, thus increasing NAV for remaining shareholders. The Funds’ management will decide on repurchases without specific obligations on amount or discount levels.
ClearBridge MLP and Midstream Total Return Fund (NYSE: CTR) reported its unaudited financials as of June 30, 2022. The Fund holds $221.2 million in net assets, translating to a net asset value per share of $31.59. Its asset coverage ratios are notably robust at 379% for senior indebtedness and 343% for total leverage. Total assets were reported at $313.1 million, with total liabilities of $90.9 million, indicating a strong financial position for investors and stakeholders.
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.
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