EMO News and Press, ClearBridge Energy Midstream Opportunity Fund Inc. From 10/28/22

Summary The Strategy outperformed for the second quarter in a row, thanks in large part to positioning adjustments made over the last year in preparation for these extreme macro headwinds. We enhanced a focus on sturdy, secular growth businesses with three new additions to the portfol...

Summary OPEC+ agreed to impose deep output cuts of 2 million barrels per day starting in November, expecting to spur a recovery in crude prices, despite calls from the U.S. to increase production to prop up the global economy. The European Union has approved the eighth round of sa...

Summary EMO invests in a diversified, professionally managed portfolio of midstream partnerships and corporations. The companies that the fund invests in enjoy remarkably stable cash flows, despite their market prices moving alongside energy prices. The midstream sector is lik...

Summary Energy infrastructure companies continue to make strides with clean energy initiatives – announcing new partnerships, projects, and acquisitions. From renewable fuels to carbon capture to hydrogen, the provisions in the Inflation Reduction Act support clean energy i...

Summary The Organization of the Petroleum Exporting Countries and its allies on 5 October announced plans to reduce oil production quotas by 2 million barrels a day (b/d) starting in November. While the oil market has rallied on the OPEC+ announcement, this retracement is rather m...

ClearBridge Energy Midstream Opportunity Fund Inc. (NYSE: EMO) announced today the unaudited statement of assets and liabilities, the net asset value and asset coverage ratio of the Fund as of September 30, 2022. As of September 30, 2022, the Fund’s net assets were $388.8 mil...

Summary RICs cannot own more than 25% MLPs, and as a result, these funds tend to have lower yields than C-Corp funds that are 90-100% MLPs. Investors can gain exposure to MLPs through exchange-traded notes, which are unsecured debt obligations of an issuer. Investors can gain ...

Summary TTP offers a 9.4% yield and trades at a -14% discount to NAV. The upcoming tender offer should help to close the discount and improve the market price of the fund. Pipeline and MLP stocks have outperformed in 2022 and offer a steady income stream that is somewhat prote...

Summary There are two types of MLP funds – those structured as RICs, which own up to 25% MLPs, and those structured as corporations, which tend to be 90-100% MLPs. Similar to direct MLP investment, return of capital distributions from an MLP fund structured as a corporation...

Summary The energy markets have been volatile for most of 2022, continuing a two-year trend that dates to the early days of the coronavirus pandemic. The rising rig count and share buyback and M&A activity in midstream, especially in the Permian Basin, indicate strength in the...