CLEARBRIDGE ENERGY MIDSTREAM OPPORTUNITY FUND INC ClearBridge Energy Midstream Opportunity Fund Inc. (EMO)
Real Assets Factsheet as of September 30, 2023
Investment Overview
Provides a portfolio of energy midstream entities including entities structured as both partnerships and corporations. Seeks a high level of total return with an emphasis on cash distributions. Targets MLPs with long-lived assets, predictable cash flows and relatively low direct commodity exposure.
Total Returns (%)
Cumulative | Average Annual | Inception | |||||||||
3-Mth | 6-Mth | YTD | 1-Yr | 3-Yr | 5-Yr | 10-Yr | Inception | Date | |||
Market Price Return | 8.32 | 16.78 | 17.34 | 36.48 | 64.97 | -2.84 | -3.69 | -0.85 | 6/10/2011 | ||
NAV Returns | 7.15 | 14.32 | 14.91 | 28.96 | 53.55 | -2.52 | -3.56 | -0.18 | 6/10/2011 | ||
Benchmark | 9.90 | 15.81 | 20.56 | 32.74 | 43.10 | 6.81 | 1.93 | 4.41 | - | ||
Calendar Year Total Returns (%)
2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | |
Market Price Return | 39.94 | 74.29 | -64.30 | 19.80 | -25.57 | -0.23 | 15.28 | -41.70 | 7.91 | 18.66 |
NAV Returns | 27.47 | 64.01 | -59.81 | 18.21 | -18.39 | -6.51 | 15.90 | -39.62 | 8.36 | 29.42 |
Benchmark | 30.92 | 40.17 | -28.69 | 6.56 | -12.42 | -6.52 | 18.31 | -32.59 | 4.80 | 27.58 |
Performance shown represents past performance and is no guarantee of future results. Current performance may be higheror lower than the performance shown. Investment return andprincipal value will fluctuate so shares, when sold, may be worth more orless than the original cost.Returns based onMarket Price orNAV, and assume the reinvestment of all distributions atthe Dividend ReinvestmentPlan Price or NAV,respectively. All returnsinclude the deduction of management fees, operatingexpenses and allother fund expenses, anddo not reflect the deduction of brokerage commissionsor taxesthat investorsmay pay ondistributions orthe sale of shares.When applicable, performance would have been lowerif fees hadnot beenwaivedin variousperiods. The index isunmanagedand includesreinvestment of any income or distributions. It does notreflect any fees, expenses or sales charges. One cannot invest directly inan index, and an index is not representative of the fund'sportfolio. Indexdata is providedfor comparisonpurposes only.The fund isnot managedagainst anindex. Returns for periodsof lessthan oneyear are not annualized.Please visitfranklintempleton.com forthe mostrecent month-endperformance.
Gross expenses are the fund's total annual operating expenses as of the fund's annual report available at the time of publication. Actual expenses may be higher and may impact portfolio returns. Net expenses reflect voluntary fee waivers, expense caps and/or reimbursements. Voluntarywaiversmaybe modifiedor discontinuedatany timewithoutnotice. NAV istotal assets less totalliabilitiesdividedby thenumberof sharesoutstanding. Market Price, determinedbysupply anddemand,is thepricean investorpurchasesor sells thefund. TheMarketPrice maydifferfrom a fund's NAV. Premium/ Discount reflectsthedifferencebetweentheNAV andtheMarketPrice of thefund, andrepresents the amount that the fund is trading above or below its NAV, expressed as a percentage of the NAV. Distribution Rate is calculated by annualizing the most recent distribution amount paid, divided by the closing market price or NAV as of the date indicated. Distribution Rate includes income and return of capital, if any, and excludes special distributions. The Distribution Rate is not guaranteed, subject to change, and is not a quotation of fund performance. The difference between total assets and net assets, if any, is due primarily to the fund's use of borrowings and other liabilities; netassets do not include borrowings. The fund may employ leverage in the form of loans, preferred stock, reverse repurchase agreementsand/or other instruments. When the fund engages in transactions that have a leveraging effect on the fund's portfolio, the value of thefund will be more volatile and all other risks will tend to be compounded.
Growth of $10,000
Inception through September 30, 2023
Market Price Returns, assuming dividends reinvested
20K | $8,998 | ||||
15K | |||||
10K | |||||
5K | |||||
0K | Dec-13 | Jun-21 | Sep-23 | ||
Jun-11 | Jun-16 | Dec-18 |
The Growth of $10,000 chart reflects a hypothetical $10,000 investment on Market Price and assumes reinvestment of dividends and capital gains. Fund expense, including management fees and other expenses were deducted.
Fund Overview
NYSE - XNYS Ticker | EMO |
NAV Symbol | XEMOX |
Listed Exchange | NYSE - XNYS |
Fund Inception Date | 06/13/2011 |
NAV | $36.40 |
Market Price | $31.70 |
Premium/Discount | -12.91% |
Last Distribution Paid | $0.6500 |
Distribution Rate at Market | |
Price (%) | 8.20 |
Distribution Rate at NAV (%) | 7.14 |
Dividend Frequency, if any | Quarterly |
Benchmark(s)
Alerian MLP Index
Fund Characteristics | Fund | |
Total Assets | $682.34 | Million |
Loans | 19.35% | |
Fixed Rate Notes | 4.83% | |
PreferredShares | 7.61% | |
Total Net Assets | $465.50 | Million |
tel: (800) DIAL BEN/342-5236| franklintempleton.com
Not FDIC Insured | May Lose Value | No Bank Guarantee
ClearBridge Energy Midstream Opportunity Fund Inc. (EMO) | as of September 30, 2023 | |
Asset Allocation (% of Total) | Portfolio Management |
Fund | |
Diversified Energy Infrastructure | 49.94 |
Gathering/Processing | 21.60 |
Liquids Transportation & Storage | 21.11 |
Natural Gas Transportation & Storage | 3.59 |
Cash | 3.40 |
Propane | 0.36 |
Years with Firm | Years of Experience | |
Chris Eades | 16 | 31 |
Peter Vanderlee, CFA | 29 | 24 |
Michael Clarfeld, CFA | 17 | 23 |
With a legacy dating back over 60 years, ClearBridge Investments is a leading global equity manager committed to delivering differentiated long-term results through authentic active management.
Top Equity Issuers (% of Total)
Fund | |
Energy Transfer LP | 8.62 |
ONEOK Inc | 7.52 |
MPLX LP | 7.36 |
Enterprise Products Partners LP | 7.27 |
Targa Resources Corp | 7.12 |
Western Midstream Partners LP | 6.69 |
Plains All American Pipeline LP | 4.90 |
Plains GP Holdings LP | 4.87 |
Williams Cos Inc/The | 4.57 |
Antero Midstream Corp | 4.44 |
What should I know before investing?
All investmentsinvolve risks, including possible loss of principal. Investmentsin energy-related master limited partnerships (MLPs) and midstream entities aresubject to risks of declines in energy andcommodity prices, decreases in energy demand, adverse weather conditions, natural or other disasters, changes in government regulation, and changes in tax laws. Leverage increases the volatility of investmentreturnsandsubjects investments to magnifiedlosses and a decline in value. Derivative instruments can be illiquid, may disproportionately increaselosses, andhave a potentially large impacton performance. Small- and mid-cap stocks involve greater risks andvolatility than large-capstocks. Liquidity risk exists when securities or other investments become more difficult to sell, or are unable to be sold, at the price at which they have been valued. These andother risks are discussed in the fund's prospectus.MLP cash distributions are generally tax deferred. Non-cashexpenses, such as depreciation or depletion, usually offset income derived from an MLP's operations. To the extent that these expenses exceed income, cash distributions are considered return of capital under tax law. As such, they are not taxed when received. Instead, the distribution, in the form of return of capital, reduces a unit holder's cost basis. This adjusted cost basis, in turn, results in a higher capital gain or lower capital loss when the units are sold. Of course, there can be no assurances that distributions from an MLP will be tax deferred. The fund will be treated as a regular corporation for U.S. federal income tax purposes and, as a result, unlike most investment companies, is subject to corporate income tax to the extent the fund recognizes taxable income. Any taxes paid by the fund will reduce the amount available to pay distributions to investors, and therefore investors in the fund will likely receive lower distributions than if they invested directly in MLPs or midstream entities.
Important Information
Distributions are not guaranteed and are subject to change.
The Closed-End Funds arenot sold or distributed by Franklin Distributors,LLC, or any affiliate of Franklin Resources, Inc. Unlike open-endfunds, shares are not continually offered. Like other public companies, closed-endfunds have a one-timeinitial public offering, and once their shares are first issued, are generally bought and sold through non-affiliatedbroker/dealers and trade on nationally recognized stock exchanges. Share prices will fluctuate with market conditions and, at the time of sale, may be worth more or less than your original investment. Shares of exchange-traded closed-endfunds may trade at a discount or premium to their original offering price, and often trade at a discount to their net asset value. Investment return, market price and net asset value will fluctuate with changes in market conditions. The Funds are subject to investment risks, including the possible loss of principal invested.
CFA® andCharteredFinancialAnalyst® aretrademarksownedby CFAInstitute.
The AlerianMLP Index is a compositeof thefifty mostprominent energymasterlimitedpartnerships("MLPs") andis calculatedusing a float-adjusted,capitalization-weighted methodology. Information is historical and may not reflect current or future portfolio characteristics. All portfolio holdings are subject to change. Important data provider notices and terms available at www.franklintempletondatasources.com.
- 2023 Franklin Templeton. Franklin Distributors, LLC. Member FINRA/SIPC. ClearBridge Investments, LLC, and Franklin Distributors, LLC, are Franklin Templeton affiliated companies.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Clearbridge Energy Midstream Opportunity Fund Inc. published this content on 30 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 October 2023 01:26:32 UTC.
