ClearBridge Energy Midstream Opportunity Fund Inc. Announces Unaudited Balance Sheet Information as of December 31, 2020
ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) released its unaudited financial data as of December 31, 2020. The Fund reported net assets of $243.2 million, resulting in a net asset value per share of $17.84. The asset coverage ratio for senior indebtedness stood at 620%, while total leverage accounted for 348%. Total assets were $343.1 million, with investments amounting to $331.6 million. The Fund repurchased 247,612 shares, totaling $3,578,902 under its stock repurchase plan.
- Net assets reached $243.2 million, indicating strong financial stability.
- Asset coverage ratios of 620% (senior indebtedness) and 348% (total leverage) suggest minimal risk.
- Successful share repurchase of 247,612 shares, supporting share price.
- None.
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, 2020.
As of December 31, 2020, the Fund’s net assets were
| As of December 31, 2020 | |||||||||
| Amount (millions) | Per Share | ||||||||
| Investments | $ |
331.6 |
$ |
24.32 |
|
||||
| Cash and Cash Equivalents |
|
5.6 |
|
0.41 |
|
||||
| Other Assets |
|
5.9 |
|
0.43 |
|
||||
| Total Assets | $ |
343.1 |
$ |
25.16 |
|
||||
| Senior Notes* | $ |
45.1 |
$ |
3.31 |
|
||||
| Loans Outstanding* |
|
10.0 |
|
0.73 |
|
||||
| Mandatory Redeemable Preferred Shares* |
|
43.1 |
|
3.16 |
|
||||
| Total Leverage | $ |
98.2 |
$ |
7.20 |
|
||||
| Income Tax Payable | $ |
- |
$ |
- |
|
||||
| Deferred Tax Liability |
|
- |
|
- |
|
||||
| Other Liabilities |
|
1.7 |
|
0.12 |
|
||||
| Total Liabilities | $ |
1.7 |
$ |
0.12 |
|
||||
| Net Assets | $ |
243.2 |
$ |
17.84 |
|
||||
| Outstanding Shares |
|
13,634,622 |
|||||||
| * The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was |
|||||||||
| * The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was |
|||||||||
| Top Ten Equity Holdings (as of December 31, 2020)** | |||||||||
| Market Value | |||||||||
| Name | (millions) | % of Investments | *** | ||||||
| MPLX LP | $ |
29.7 |
|
9.0 |
% |
||||
| Enterprise Products Partners LP | $ |
27.2 |
|
8.2 |
% |
||||
| Targa Resources Corp. | $ |
22.6 |
|
6.8 |
% |
||||
| Western Midstream Partners LP | $ |
19.9 |
|
6.0 |
% |
||||
| Magellan Midstream Partners LP | $ |
19.9 |
|
6.0 |
% |
||||
| DCP Midstream LP | $ |
16.8 |
|
5.1 |
% |
||||
| Energy Transfer LP | $ |
15.1 |
|
4.6 |
% |
||||
| Williams Cos. Inc. | $ |
14.3 |
|
4.3 |
% |
||||
| Antero Midstream Corp. | $ |
13.2 |
|
4.0 |
% |
||||
| Cheniere Energy Partners LP | $ |
12.6 |
|
3.8 |
% |
||||
$ |
191.3 |
|
57.8 |
% |
|||||
| ** Subject to change at any time | |||||||||
| *** Percent of Total Equity Investments | |||||||||
During the month ended December 31, 2020, the Fund repurchased in the open market and retired 247,612 of its common shares under the stock repurchase plan for a total amount of
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 wholly owned subsidiaries of Franklin Resources, Inc. (“Franklin Resources”).
On July 31, 2020, Franklin Resources acquired Legg Mason, Inc. (“Legg Mason”) in an all-cash transaction. As a result of the transaction, LMPFA and ClearBridge, previously wholly-owned subsidiaries of Legg Mason, became wholly-owned subsidiaries of 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 of ClearBridge Energy Midstream Opportunity Fund (EMO) as of December 31, 2020?
What are the total assets of ClearBridge Energy Midstream Opportunity Fund (EMO) as of December 31, 2020?
How much did ClearBridge Energy Midstream Opportunity Fund (EMO) spend on share repurchases in December 2020?
What is the asset coverage ratio for ClearBridge Energy Midstream Opportunity Fund (EMO)?
