NXG Cushing Midstream Energy ord Stock Price, News & Analysis

NXG Cushing® Midstream Energy Fund (NYSE: SRV) has announced monthly distributions of $0.45 per common share for February, March, April, and May 2025. The distributions will be payable on the respective payment dates: February 28, March 31, April 30, and May 30, 2025.

It is anticipated that approximately 100% of the Fund's distributions will be treated as a return of capital, with final tax status determination to be reported to shareholders in early 2026. The Fund is a non-diversified, closed-end management investment company that invests at least 80% of its net assets in midstream energy investments, focusing on companies providing services in energy infrastructure sectors.

The Fund considers companies as midstream energy companies if at least 50% of their assets, income, sales, or profits are related to midstream energy services. The Fund trades on the NYSE under the symbol 'SRV'.

NXG Cushing® Midstream Energy Fund (NYSE: SRV) has announced a special distribution of $0.31477 per common share, payable on December 31, 2024, to shareholders of record on December 27, 2024. This special distribution comes in addition to the previously announced December distribution of $0.45 per share.

The special distribution is being made to meet the Fund's 2024 distribution requirements as a regulated investment company for U.S. federal income tax purposes. It is estimated that 100% of the special distribution will consist of long-term capital gain. The Fund is a non-diversified, closed-end management investment company that invests at least 80% of its net assets in midstream energy investments under normal market conditions.

The NXG Cushing® Midstream Energy Fund (NYSE: SRV) has announced monthly distributions of $0.45 per common share for December 2024 and January 2025. The December distribution is expected to have 0.00% return of capital, while the January distribution is anticipated to be 100% return of capital. Final tax status determinations will be reported to shareholders in early 2025 for 2024 dividends and 2026 for 2025 dividends.

The Fund is a non-diversified, closed-end management investment company that invests at least 80% of its assets in midstream energy investments, focusing on companies providing services in energy infrastructure sectors.

NXG Cushing® Midstream Energy Fund (NYSE: SRV) has announced the preliminary results of its transferable rights offering, which ran from October 23 to November 14, 2024. The oversubscribed offering allowed rights holders to subscribe for up to 1,004,176 common shares at $41.80 per share, representing 89% of the Fund's NAV at closing. The offering is expected to generate gross proceeds of approximately $42,000,000. The Fund plans to invest the net proceeds in alignment with its investment objectives and policies. Common shares will be issued after completion of shareholder payments and pro-rata allocation of oversubscription privileges.

NXG Cushing® Midstream Energy Fund (NYSE: SRV) has announced a rights offering to existing shareholders. The offer allows shareholders to purchase one new common share for every three rights held. The subscription price will be 92.5% of the average last reported sales price over five trading days, with a minimum of 89% of NAV. The record date is expected to be October 23, 2024, and the offer is anticipated to expire on November 14, 2024.

Additionally, the Fund has changed the record date for its November distribution to November 4, 2024. The $0.45 per share distribution will be payable on November 29, 2024. This distribution will not apply to shares issued after the new record date through the rights offering.

The NXG Cushing® Midstream Energy Fund (NYSE: SRV) has announced monthly distributions of $0.45 per common share for September, October, and November 2024. These distributions are payable to common shareholders on specific dates, with an estimated 100% return of capital. The Fund, a closed-end management investment company, focuses on midstream energy investments, aiming for high after-tax total returns from capital appreciation and current income. It invests at least 80% of its net assets in midstream energy companies involved in various aspects of energy infrastructure. The Fund's shares are traded on the NYSE under the symbol 'SRV'.

The NXG Cushing Midstream Energy Fund (NYSE: SRV) announced monthly distributions of $0.45 per common share for June, July, and August 2024. These distributions, 100% estimated as a return of capital, will be paid on June 28, July 31, and August 30, 2024, respectively, provided there are no deferrals by the Board of Trustees. The Fund aims for high after-tax returns through midstream energy investments, trading on the NYSE under 'SRV.' The final tax status will be confirmed in early 2025, and the Fund's ability to meet its investment objectives isn't guaranteed.

On May 17, 2024, NXG Cushing Midstream Energy Fund (NYSE: SRV) announced an at-the-market offering program for its common shares. The sales will be managed by Foreside Fund Services as the distributor. The fund aims to invest the proceeds in alignment with its investment objectives, focusing on midstream energy investments. The offering will be conducted under an effective registration statement filed with the SEC, with a prospectus supplement dated the same day. These associated expenses will be indirectly borne by the Fund's shareholders. Investors are advised to consider the Fund's investment objectives, risks, and expenses before investing.