ClearBridge Energy Midstream Opportunity Fund Inc. Financial Overview
ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) has recently disclosed its unaudited balance sheet information, providing a glimpse into its financial standing. As of the most recent reporting period, the fund has net assets totaling $860.2 million and a net asset value per share standing at $47.29. This robust financial positioning is an encouraging sign for investors and stakeholders alike.
Assessing Asset Coverage Ratios
The fund boasts an impressive asset coverage ratio. Under the guidelines of the Investment Company Act of 1940, the asset coverage ratio with respect to senior indebtedness is reported at 519%. Additionally, with respect to total leverage, this ratio stands at 369%. These figures reflect the fund's substantial ability to cover its debts and leverage, reinforcing its financial health.
Comprehensive Asset Breakdown
In a detailed breakdown of assets, the fund lists its investments amounting to $1.176 billion, translating to $64.68 per share. Cash and cash equivalents have been recorded at $53.6 million, approximately $2.95 per share. Other assets also contribute a small fraction totaling $1.9 million, reflecting a well-rounded asset portfolio.
Total Assets and Liabilities
The total assets of ClearBridge Energy Midstream Opportunity Fund are totaled at $1.231 billion, equating to $67.73 per share. Conversely, total liabilities stand at $51.7 million ($2.85 per share), indicating a strong balance between assets and obligations. The explicit net assets send a positive signal to the market, particularly regarding investor confidence.
Noteworthy Mergers Enhancing Portfolio
A significant corporate development occurred with the recent merger of ClearBridge MLP and Midstream Fund Inc. and ClearBridge MLP and Midstream Total Return Fund Inc. with the EMO fund, effective September 9. This strategic addition has broadened the shareholder base while consolidating assets, which could propel future growth and stability.
About ClearBridge
ClearBridge Energy Midstream Opportunity Fund Inc. operates as a non-diversified, closed-end management investment company. It is advised by Franklin Templeton Fund Adviser, LLC, which has a strong reputation in asset management. The subadvisory role is undertaken by ClearBridge Investments, LLC, both subsidiaries of Franklin Resources, Inc. These connections significantly enhance the fund’s credibility within the investment community.
Future Outlook and Investor Communications
While the most recent financial data is unaudited, it is vital for the fund to maintain transparency with its investors. The semi-annual and annual reports filed with the Securities and Exchange Commission ensure that stakeholders are well-informed about the fund's operations and financial performance. Investors can access comprehensive reports and updates via the SEC and can also call for information on the fund's status.
Conclusion
In conclusion, the financial diagnostics of ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) indicate a strong position within the market. The impressive asset coverage ratios coupled with the recent positive developments signal a favorable outlook for current and potential investors. With effective management and strategic adjustments through mergers, the fund aims to continue an upward trajectory in performance.
Frequently Asked Questions
What is the current net asset value of ClearBridge Energy Midstream Opportunity Fund?
The net asset value per share of ClearBridge Energy Midstream Opportunity Fund stands at $47.29.
How much are the total assets of the fund?
The total assets of ClearBridge Energy Midstream Opportunity Fund amount to $1.231 billion.
What are the asset coverage ratios for the fund?
The asset coverage ratio for senior indebtedness is 519%, while the ratio for total leverage is 369%.
What recent changes have occurred with the fund?
Recently, ClearBridge MLP and Midstream Fund Inc. and ClearBridge MLP and Midstream Total Return Fund Inc. merged into the ClearBridge Energy Midstream Opportunity Fund.
How can shareholders obtain financial reports from the fund?
Shareholders can obtain financial reports and information by calling 1-888-777-0102 or accessing the SEC's website.
