Welcome to our dedicated page for NXG Cushing Midstream Energy Fund news (Ticker: SRV), a resource for investors and traders seeking the latest updates and insights on NXG Cushing Midstream Energy Fund stock.
NXG Cushing Midstream Energy Fund (NYSE: SRV) is a non-diversified, closed-end management investment company aiming to achieve a high after-tax total return through a combination of capital appreciation and current income. The fund strategically invests at least 80% of its net assets, including any borrowings for investment purposes, in midstream energy investments.
The fund focuses on companies that provide essential midstream energy services such as gathering, transporting, processing, fractionation, storing, refining, and distributing natural resources including natural gas, natural gas liquids, crude oil, refined petroleum products, biofuels, carbon sequestration, solar, and wind energy. A company qualifies as a midstream energy company if at least 50% of its assets, income, sales or profits are committed to, derived from, or related to midstream energy services.
NXG Cushing Midstream Energy Fund is managed by NXG Investment Management, an SEC-registered investment adviser headquartered in Dallas, Texas. Formerly known as Cushing Asset Management, LP, NXG Investment Management specializes in 'Next Generation' investment strategies focusing on long-term growth in companies dedicated to a clean and sustainable future as well as those involved in traditional and transformational infrastructure.
Recently, the fund's board of trustees approved the issuance of transferable rights to holders of common shares, allowing them to subscribe for additional shares. This offer, aimed at increasing the assets available for investment, underscores the fund's commitment to maximizing existing and future investment opportunities.
In addition, the fund has established an 'at-the-market' offering program, permitting the sale of common shares through Foreside Fund Services, LLC. The proceeds will be used in line with the fund's investment objectives and policies.
Financially, NXG Cushing Midstream Energy Fund demonstrates strong performance metrics, having recently declared a monthly distribution of $0.45 per common share for December 2023. This declaration is part of its regular monthly distributions to common shareholders.
For the latest updates, news, and more detailed financial data about the NXG Cushing Midstream Energy Fund, please visit their official website or consult their prospectus and related materials.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) has announced monthly distributions of $0.15 per common share for June, July, and August 2022. The record and ex-dividend dates for these distributions are outlined as follows: June 14 (ex June 13), July 18 (ex July 15), and August 16 (ex August 15), with payment dates on June 30, July 29, and August 31 respectively. Approximately 97% of the distributions are estimated to be treated as a return of capital. The Fund's investment strategy focuses on energy infrastructure MLPs.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced a 25% increase in its monthly distributions from $0.12 to $0.15 per share for February to May 2022. Shareholders will receive these distributions on set payment dates, with approximately 97% expected to be treated as a return of capital. Additionally, the Fund's management fees will be waived for the next year. The declaration anticipates compliance with financial covenants and consideration of net income and available cash.
The Cushing MLP & Infrastructure Total Return Fund (SRV) and Cushing NextGen Infrastructure Income Fund (SZC) announced the upcoming retirement of portfolio manager Jerry V. Swank, effective December 31, 2021. He will be succeeded by John H. Alban, currently the CFO and Treasurer of the Funds. Blake Nelson will take over Alban's role as CFO. Swank will remain involved as an Interested Trustee. The transition aims to ensure continued strong investment performance under the new leadership.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) has declared a monthly distribution of $0.12 per common share for December 2021 and January 2022. The ex-dates for these distributions are 12/10/21 and 1/14/22, with payment dates set for 12/31/21 and 1/31/22, respectively. The Fund anticipates that the distributions may be treated as a return of capital. The Fund primarily invests in energy infrastructure MLPs, aiming for high after-tax total returns. However, future distributions are subject to compliance and performance considerations.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) and Cushing NextGen Infrastructure Income Fund (NYSE: SZC) announced the resignation of trustee Brenda A. Cline, effective immediately. Andrea N. Mullins has been appointed to fill the vacancy for the remainder of Cline's term. Mullins will serve as a Class II trustee and will also be part of the Nominating and Corporate Governance Committee and Chair of the Audit Committee. Her experience includes senior financial roles and oversight of strategic growth plans.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced a monthly distribution of $0.12 per share for September, October, and November 2021. The ex-dates for these distributions are 9/14/21, 10/15/21, and 11/12/21, with record dates of 9/15/21, 10/18/21, and 11/15/21, respectively. Each distribution is expected to be a 100% return of capital. The Fund aims for a high after-tax total return by investing predominantly in energy infrastructure MLPs. Future distributions are subject to the Fund's financial performance.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) has declared a monthly distribution of $0.12 per common share for each month of June, July, and August 2021. The ex-dates for these distributions are June 11, July 13, and August 13, 2021, with record dates following on June 14, July 14, and August 16, respectively. The payment dates are set for June 30, July 30, and August 31, 2021. Approximately 100% of these distributions are expected to be treated as a return of capital, subject to final determination in early 2022.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) has declared a monthly distribution of $0.12 per common share for May 2021, payable to shareholders. The ex-date for the distribution is May 14, 2021, with a record date of May 17, 2021 and a payment date of May 28, 2021. Notably, it is anticipated that approximately 100% of this distribution will be treated as a return of capital, pending final confirmation in early 2022. The Fund focuses on investing at least 80% of its net assets in energy infrastructure master limited partnerships.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) has declared monthly distributions of $0.12 per common share for February, March, and April 2021. These will be payable on specific dates listed in the announcement. Approximately 93% of these distributions are expected to be treated as a return of capital. The Fund's management fee waiver of 0.25% based on Managed Assets has also been extended for another year. The Fund aims for a high after-tax total return, primarily investing in energy infrastructure MLPs, but there are no assurances on achieving these objectives.
The Cushing MLP & Infrastructure Total Return Fund (NYSE: SRV) announced a monthly distribution of $0.12 per common share for December 2020 and January 2021, payable to common shareholders. Key dates include Ex-Dates of 12/11/20 for December and 1/15/21 for January. The Fund anticipates that 0% of the December distribution and 100% of the January distribution will be classified as a return of capital. The Fund invests primarily in energy infrastructure master limited partnerships and emphasizes the importance of compliance with financial covenants for future distributions.
FAQ
What is the current stock price of NXG Cushing Midstream Energy Fund (SRV)?
What is the market cap of NXG Cushing Midstream Energy Fund (SRV)?
What is the primary investment objective of NXG Cushing Midstream Energy Fund?
What types of companies does the NXG Cushing Midstream Energy Fund invest in?
How does the fund define a midstream energy company?
What is the significance of the recent rights offering by the fund?
Who manages the NXG Cushing Midstream Energy Fund?
What is the monthly distribution amount announced for December 2023?
How often does the fund declare distributions to its shareholders?
What is the fund’s strategy for utilizing leverage?
What is the 'at-the-market' offering program initiated by the fund?
Where can investors find more information about the fund?
