Salient Midstream & MLP Fund - SMM STOCK NEWS

Salient Midstream & MLP Fund (SMM) reported its financial metrics as of March 31, 2022. Total assets stood at $234.1 million, with a net asset value (NAV) per share of $9.52, while shares traded at $8.24, reflecting a 13.4% discount to NAV. March saw NAV and market price gains of 10.1% and 11.9% respectively, outperforming the Alerian Midstream Energy Index (AMEIX). The fund increased distributions by 46% in the last year. Focus remains on generating top-tier returns while aiming to enhance shareholder value.

Salient Midstream & MLP Fund (NYSE: SMM) released its unaudited statement of assets and liabilities as of February 28, 2022, reporting total assets of $206.5 million and a net asset value (NAV) per share of $8.65. The closing share price was $7.36, reflecting a 14.9% discount to NAV. Total returns for February were 7.4% (NAV) and 5.4% (market price), outperforming the Alerian Index which saw 4.6%. Positive market sentiment is driven by anticipated increases in free cash flow and hydrocarbon volumes as drilling improves amidst rising crude oil prices due to geopolitical tensions.

Salient Partners, L.P. announced the record date for the upcoming Annual Meeting of Shareholders for Salient Midstream & MLP Fund (NYSE: SMM) as February 28, 2022. Eligible shareholders will vote on the election of trustees at the meeting, expected to occur in late May. The Fund aims to achieve a high total return by investing at least 80% of its assets in securities from MLPs and midstream companies. Further details will be provided in the proxy statement.

Salient Midstream & MLP Fund (NYSE: SMM) announced a distribution of $0.0875 per share for Q1 2022, marking a 25% increase from the previous quarter. This distribution will be payable on February 25, 2022, to stockholders of record on February 17, 2022. As of January 31, 2022, the Fund's total assets were $195.7 million with a Net Asset Value (NAV) per share of $8.15, representing a 13.3% discount to the share price of $7.07. Returns for the month were 9.0% for NAV and 4.9% for market price, outperforming the Alerian Midstream Energy Select Index.

Salient Midstream & MLP Fund (NYSE: SMM) reported its unaudited statement of assets and liabilities for December 31, 2021. The Fund's total assets reached $187.0 million, with a NAV per share of $7.48. The closing share price was $6.74, reflecting a 9.89% discount to NAV. For December, NAV and market price returns were -0.5% and 5.8%, respectively. Looking ahead, the Fund anticipates over 35% growth in free cash flow for 2022, alongside improvements in drilling activity and capital allocation. A valuation error in the EMG Utica portfolio was corrected, impacting NAV by $0.07 to $0.11 per share.

On December 7, 2021, Salient Midstream & MLP Fund (SMM) announced its unaudited total assets of $192.8 million and a Net Asset Value (NAV) per share of $7.63 as of November 30, 2021. The fund's share closed at $6.37, reflecting a 16.5% discount to NAV. November saw total returns of -7.9% for NAV and -4.6% for share price, underperforming the Alerian Midstream Energy Select Index. Notably, SMM will increase its quarterly distribution by 25% to $0.0875, reflecting confidence in free cash flow growth. The fund's structure enables agility in energy investments.

On September 30, 2021, Salient Midstream & MLP Fund (NYSE: SMM) reported total assets of $193.9 million and a NAV per share of $7.77. The closing share price was $6.35, reflecting an 18.3% discount to NAV. In September, the Fund achieved NAV and market price total returns of 6.4% and 14.0%, respectively, outperforming the Alerian Midstream Energy Select Index which returned 4.7%. The Fund had 17.7 million common shares outstanding.

Salient Midstream & MLP Fund (NYSE: SMM) announced its unaudited Net Asset Value (NAV) as of August 31, 2021. Total assets were reported at $181.0 million with an NAV per share of $7.30, showing a 23.7% discount to the closing share price of $5.57. For August, total returns were -2.0% (NAV) and -1.6% (market price), compared to -1.5% for the Alerian Midstream Energy Select Index. Major holdings include investments in EMG Utica and The Williams Companies, among others.

Salient Midstream & MLP Fund (NYSE: SMM) announced a third-quarter dividend of $0.07 per share, a 16.7% increase from the previous quarter's $0.06. This dividend is payable on August 30, 2021, to shareholders of record by August 17, 2021. The Fund's total assets as of July 31, 2021, were $186.7 million, with a Net Asset Value (NAV) per share of $7.54. The Fund's strong recovery from COVID-19 and management's outlook suggest sustainability in cash distributions moving forward.