Welcome to our dedicated page for ClearBridge Energy Midstream Opportunity news (Ticker: EMO), a resource for investors and traders seeking the latest updates and insights on ClearBridge Energy Midstream Opportunity stock.
ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) is a non-diversified, closed-end management investment company focused on midstream energy entities. The Fund’s news flow frequently centers on unaudited balance sheet information, net asset value (NAV) updates, leverage metrics and capital structure developments tied to its portfolio of midstream investments.
On this page, readers can follow EMO news items that detail its statements of assets and liabilities as of specific month-end or quarter-end dates. These updates typically include total assets, investments, cash and cash equivalents, various forms of leverage such as senior notes, loans outstanding and mandatory redeemable preferred shares, as well as deferred tax liabilities, other liabilities and net assets. The Fund also reports asset coverage ratios under the Investment Company Act of 1940 for senior indebtedness and total leverage.
News coverage for EMO has also highlighted its transferable rights offering, including announcements of authorization, preliminary results and final results. These items describe the terms of the offering, the ratio of rights to new shares, the method of determining the subscription price, the number of shares of common stock issued and the gross proceeds expected from the offer. Such announcements provide context on how EMO raises additional capital to pursue its investment objective of total return with an emphasis on cash distributions.
Investors and observers can use this news feed to monitor EMO’s reported top ten equity holdings, which have included a range of midstream energy companies, and to see how the Fund’s portfolio composition and leverage profile are described over time. Because the Fund notes that financial data in press releases is unaudited and subject to change, this page serves as a convenient way to track EMO’s publicly released updates and fund announcements in one place.
Legg Mason Partners Fund Advisor announced August 2022 distributions for closed-end funds including CEM, EMO, and CTR. Key dates are the record date of August 24, 2022, ex-dividend date of August 23, 2022, and payable date of August 31, 2022. The distributions are $0.6100 for CEM, $0.5100 for EMO, and $0.5300 for CTR, each reflecting a $0.0100 increase from previous distributions. According to Portfolio Manager Chris Eades, midstream industry fundamentals are improving, leading to accelerated free cash flow and expected higher dividend growth.
ClearBridge MLP and Midstream Fund (CEM), ClearBridge Energy Opportunity Fund (EMO), and ClearBridge MLP and Midstream Total Return Fund (CTR) have announced the amendment of their share repurchase programs. Each Fund is authorized to repurchase an additional 10% of outstanding common stock whenever shares trade below net asset value (NAV). This initiative aims to enhance shareholder value by canceling repurchased shares, thus increasing NAV for remaining shareholders. The Funds’ management will decide on repurchases without specific obligations on amount or discount levels.
ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) released its unaudited financial report for June 30, 2022. The Fund reported net assets of $379.3 million and a net asset value per share of $29.36. Its asset coverage ratio was 375% for senior indebtedness and 298% for total leverage. The Fund holds total assets of $572 million and has outstanding shares totaling 12,917,291. In June, the Fund repurchased 1,817 shares for $55,447.
ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) reported its unaudited financial status as of May 31, 2022. The Fund's net assets totaled
ClearBridge Energy Midstream Opportunity Fund announced its unaudited financial results as of April 30, 2022. The Fund's net assets reached $446.7 million, with a net asset value per share of $34.41. The asset coverage ratio for senior indebtedness was 394%, while total leverage stood at 319%. Key investments included Enterprise Products Partners LP and MPLX LP, contributing significantly to the overall investment portfolio.
ClearBridge Energy Midstream Opportunity Fund (NYSE: EMO) reported its financials as of March 31, 2022. The Fund's net assets stood at $455.5 million, with a net asset value (NAV) per share of $35.08. It boasted an impressive asset coverage ratio of 399% for senior indebtedness and 323% for total leverage. The Fund has total assets of $661.3 million, including investments worth $648.2 million. Notably, it repurchased 124,913 common shares during the month for a total of $3.25 million.
Legg Mason Partners Fund Advisor announced the distribution details for its closed-end funds for May 2022. The distribution amounts are as follows: ClearBridge MLP and Midstream Fund (CEM) at $0.6000, ClearBridge Energy Midstream Opportunity Fund (EMO) at $0.5000, and ClearBridge MLP and Midstream Total Return Fund (CTR) at $0.5200. The record date for distributions is May 23, 2022, with an ex-dividend date of May 20, 2022, and a payable date of May 31, 2022. Portfolio Manager Chris Eades noted improving midstream industry fundamentals, indicating greater expected dividend growth.
ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) has released its unaudited financial report as of February 28, 2022. The fund's net assets stand at $428.1 million, with a net asset value per share of $32.66. Its asset coverage ratio with respect to senior indebtedness is notably high at 480%, while the total leverage coverage ratio is 356%. The fund's investments total $583.6 million, demonstrating a solid position in the energy midstream sector.
ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) released its unaudited assets and liabilities statement as of January 31, 2022. The Fund reported $408.1 million in net assets and a net asset value per share of $31.14. Its asset coverage ratios were notably high, at 464% for senior indebtedness and 344% for total leverage under the Investment Company Act of 1940. The Fund holds significant investments, with total assets amounting to $577.2 million, ensuring a stable financial position for stakeholders.
Legg Mason Partners Fund Advisor announced monthly distributions for certain closed-end funds for February 2022. Key details include:
- CEM: $0.4900, up $0.0100
- EMO: $0.3900, up $0.0100
- CTR: $0.4300, up $0.0100
The record date is February 18, 2022, with an ex-dividend date of February 17, 2022, and payment on February 28, 2022. The increased distributions align with each Fund's cash flows and may have tax implications for investors.