EMO News and Press, ClearBridge Energy Midstream Opportunity Fund Inc. From 03/23/20

By Stacey Morris In addition to updated financial guidance , midstream companies have also provided more disclosure around the nature of their cash flows. Specifically, there has been increased commentary around counterparties, minimum volume commitments, and the portion of cash f...

I'll keep this article and introduction short. The ClearBridge Energy MLP Fund (CEM) and the ClearBridge Energy MLP Opportunity Fund Inc. (EMO) are trading at uncharacteristically high discount rates of 47% and 44% respectively. Discount rates are somewhat likely to narrow in the coming days, ...

It has been almost five years since I wrote "Why I Will Never Buy an MLP Again", and in that period of time, the Alerian MLP ETF ( AMLP ) has not done so well. Even before the coronavirus selloff, MLPs had given investors a pretty poor return; on a total return basis, AMLP had given invest...

By Brian Watson, CFA , Senior Portfolio Manager As coronavirus concerns bring volatility to all markets, the fundamentals of the energy midstream sector still appear solid to us. In February, although the entire market was rocked by coronavirus worries, the master limited partnership ...

By Michael Laitkep With market and energy volatility continuing, today's note follows up on last week's piece on MLP leverage by examining two prevalent questions emerging from the current market environment: 1) Are any MLPs facing refinancing risk due to near-term debt maturities? and 2...

The balance between supply and demand of MLP paper has always been delicate. In the past, it was a balance between perpetually growing inflows and equity issuance. There were times when equity offerings temporarily overwhelmed investor appetite for MLPs. But as liquidity has diminished in rece...

ClearBridge Investments, LLC (“ClearBridge”) will host a live conference call with questions and answers on March 17, 2020 at 4:00 p.m. (EST). The conference call will feature ClearBridge portfolio managers Michael Clarfeld, CFA, and Chris Eades who will provide an outlook on th...

Oil markets and energy stocks have gone from bad to worse in response to Saudi Arabia effectively declaring an oil price war over the weekend. Today's piece addresses some of the key investor questions that have stemmed from the move in oil prices. Specifically, we discuss MLP distributions, l...

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 February 29, 2020. As of February 29, 2020, the Fund’s net assets were $500.2 million, an...

During events creating fear and uncertainty, the market can swing wildly and potentially overreact to the upside or downside on new developments. Uncertainty continues to weigh on the broader market as the impact of the coronavirus becomes more widespread. Even before market fears of the coron...