ClearBridge Energy Midstream Opportunity Fund Inc. Announces Unaudited Balance Sheet Information as of December 31, 2021

Rhea-AI Summary

ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) reported its unaudited financials as of December 31, 2021. The Fund's net assets stood at $361.8 million with a net asset value per share of $27.60. The asset coverage ratio for senior indebtedness reached 426% and 316% for total leverage. The Fund's investments totaled $507.7 million, while cash and equivalents were $15.9 million. During December, 94,774 shares were repurchased, totaling $2,063,074 in market value.

Positive

• Net assets reported at $361.8 million.
• Net asset value per share is $27.60.
• Asset coverage ratios of 426% (senior indebtedness) and 316% (total leverage) indicate strong financial health.
• Total investments reached $507.7 million.
• Cash and cash equivalents amount to $15.9 million.
• 94,774 shares repurchased for $2,063,074 during December.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of December 31, 2021.

As of December 31, 2021, the Fund’s net assets were $361.8 million, and its net asset value per share was $27.60. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 426% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 316%.

	As of December 31, 2021
	Amount (millions)		Per Share
Investments	$ 507.7		$ 38.73
Cash and Cash Equivalents	15.9		1.21
Other Assets	6.9		0.53
Total Assets	$ 530.5		$ 40.47
Senior Notes*	$ 45.1		$ 3.44
Loans Outstanding*	79.0		6.03
Mandatory Redeemable Preferred Shares*	43.1		3.29
Total Leverage	$ 167.2		$ 12.76
Other Liabilities	$ 1.5		$ 0.11
Total Liabilities	$ 1.5		$ 0.11
Net Assets	$ 361.8		$ 27.60
Outstanding Shares	13,107,157
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 426%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 316%.
Top Ten Equity Holdings (as of December 31, 2021)**
	Market Value
Name	(millions)		% of Investments	***
MPLX LP	$ 42.9		8.5%
Enterprise Products Partners LP	$ 38.1		7.5%
Energy Transfer LP	$ 37.4		7.4%
Western Midstream Partners LP	$ 36.4		7.2%
Targa Resources Corp.	$ 34.3		6.8%
Williams Cos. Inc.	$ 28.7		5.6%
DCP Midstream LP	$ 27.5		5.4%
Magellan Midstream Partners LP	$ 21.7		4.3%
Plains All American Pipeline LP	$ 19.9		3.9%
Enbridge Inc.	$ 19.9		3.9%
	$ 306.8		60.5%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended December 31, 2021, the Fund repurchased in the open market and retired 94,774 of its common shares under the stock repurchase plan for a total amount of $2,063,074.

ClearBridge Energy Midstream Opportunity 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/20220107005175/en/

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

 

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

FAQ

What were the net assets of ClearBridge Energy Midstream Opportunity Fund as of December 31, 2021?

The net assets were $361.8 million.

What is the net asset value per share for EMO as of December 31, 2021?

The net asset value per share is $27.60.

What is the asset coverage ratio for EMO's senior indebtedness?

The asset coverage ratio for senior indebtedness is 426%.

How much did EMO repurchase in shares during December 2021?

EMO repurchased 94,774 shares for a total of $2,063,074.

What were the total investments reported by EMO?

The total investments were $507.7 million.