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

Rhea-AI Summary

ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) released its unaudited financial data as of January 31, 2021. The Fund reported net assets of $260.1 million and a net asset value per share of $19.19. Its asset coverage ratio for senior debt was 515%, while total leverage was 324%. The Fund repurchased 70,224 shares in the open market, spending approximately $1.03 million. Additional details regarding the Fund's holdings and performance can be accessed via the SEC's website.

Positive

• Net assets of $260.1 million, indicating financial stability.
• Net asset value per share at $19.19 suggests strong shareholder value.
• High asset coverage ratio of 515% for senior indentures demonstrates healthy leverage management.
• Successful share repurchase of 70,224 shares enhances shareholder value.

Negative

• 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 January 31, 2021.

As of January 31, 2021, the Fund’s net assets were $260.1 million, and its net asset value per share was $19.19. The Fund’s asset coverage ratio under the Investment Company Act of 1940 (the “1940 Act”) with respect to senior indebtedness was 515% and the Fund’s asset coverage ratio under the 1940 Act with respect to total leverage was 324%.

		As of January 31, 2021
		Amount (millions)		Per Share
Investments		$ 357.7		$ 26.40
Cash and Cash Equivalents		11.7		0.86
Other Assets		8.7		0.64
Total Assets		$ 378.1		$ 27.90
Senior Notes*		$ 45.1		$ 3.33
Loans Outstanding*		28.0		2.07
Mandatory Redeemable Preferred Shares*		43.1		3.18
Total Leverage		$ 116.2		$ 8.58
Income Tax Payable		$ -		$ -
Deferred Tax Liability		-		-
Other Liabilities		1.8		0.13
Total Liabilities		$ 1.8		$ 0.13
Net Assets		$ 260.1		$ 19.19
Outstanding Shares		13,549,478
* The Fund's asset coverage ratio under the 1940 Act with respect to senior indebtedness was 515%.
* The Fund's asset coverage ratio under the 1940 Act with respect to total leverage was 324%.
Top Ten Equity Holdings (as of January 31, 2021)**
		Market Value
Name		(millions)		% of Investments		***
MPLX LP		$ 31.7		8.9%
Enterprise Products Partners LP		$ 29.8		8.3%
Targa Resources Corp.		$ 23.4		6.6%
Western Midstream Partners LP		$ 21.3		5.9%
Magellan Midstream Partners LP		$ 20.8		5.8%
DCP Midstream LP		$ 18.1		5.1%
Williams Cos. Inc.		$ 17.1		4.8%
Energy Transfer LP		$ 15.3		4.3%
Enbridge Inc.		$ 14.0		3.9%
Cheniere Energy Partners LP		$ 13.9		3.9%
		$ 205.4		57.5%
** Subject to change at any time
*** Percent of Total Equity Investments

During the month ended January 31, 2021, the Fund repurchased in the open market and retired 70,224 of its common shares under the stock repurchase plan for a total amount of $1,034,509.

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”).

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

View source version on businesswire.com: https://www.businesswire.com/news/home/20210205005164/en/

FAQ

What were the net assets of ClearBridge Energy Midstream Opportunity Fund (EMO) as of January 31, 2021?

The net assets were $260.1 million.

What is the net asset value per share for EMO as reported on January 31, 2021?

The net asset value per share was $19.19.

How much did EMO spend on share repurchases in January 2021?

EMO spent approximately $1,034,509 on repurchasing shares.

What is the asset coverage ratio for senior debt according to EMO's January 2021 report?

The asset coverage ratio for senior debt was 515%.

What was the total leverage ratio for EMO as of January 31, 2021?

The total leverage ratio was 324%.