On October 25, 2023, Saba Capital Management, L.P. (Trades, Portfolio) added 14,113 shares of ClearBridge MLP & Midstream Fund Inc. (CEM, Financial) to its portfolio. The transaction was executed at a trade price of $35.03 per share, bringing the firm's total holdings in CEM to 1,724,942 shares. This acquisition represents a 0.82% change in shares and has a 0.01% impact on the guru's portfolio. The traded stock now constitutes 1.58% of the guru's portfolio and 12.98% of the guru's holdings in the traded stock.
About Saba Capital Management, L.P. (Trades, Portfolio)
Saba Capital Management, L.P. (Trades, Portfolio), located at 405 Lexington Avenue, New York, NY 10174, is a firm that manages a portfolio of 624 stocks. The firm's top holdings include Templeton Global Income Fund (GIM, Financial), BlackRock Capital Allocation Trust (BCAT, Financial), BlackRock Health Sciences Trust II (BMEZ, Financial), BlackRock Innovation & Growth Tr (BIGZ, Financial), and BlackRock ESG Capital Allocation Trust (ECAT, Financial). The firm's equity stands at $3.84 billion, with a significant focus on the Financial Services and Technology sectors.
Overview of ClearBridge MLP & Midstream Fund Inc.
ClearBridge MLP & Midstream Fund Inc. (CEM, Financial) is a non-diversified, closed-end management investment company based in the USA. The company, which went public on June 25, 2010, primarily invests in energy master limited partnerships (MLPs) and energy midstream entities. The company operates in a single segment and has a market capitalization of $465.696 million. The current stock price is $35.03, and the PE percentage is not applicable as the company is at a loss. The GF Value of the stock is also not applicable, and hence the stock's GF Valuation cannot be evaluated.
Performance of ClearBridge MLP & Midstream Fund Inc.
The stock's gain percent since the transaction is 0, and it has seen a -64.97% change since its Initial Public Offering (IPO). The Year-to-date price change ratio stands at 8.42%. The GF Score of the stock is 41/100, indicating poor future performance potential. The Financial Strength of the company is ranked 5/10, while the Profitability Rank is 2/10. The Growth Rank and GF Value Rank are both not applicable. The stock's Momentum Rank is 10/10, indicating strong momentum. The Piotroski F-Score is 4, and the Altman Z score is not applicable. The stock's cash to debt ratio is also not applicable.
Industry Position of ClearBridge MLP & Midstream Fund Inc.
ClearBridge MLP & Midstream Fund Inc. operates in the Asset Management industry. The company's Return on Equity (ROE) is -8.16%, and its Return on Assets (ROA) is -5.61%. The company's gross margin growth, operating margin growth, and 3-year revenue growth are all not applicable. The stock's RSI 5 day is 39.65, RSI 9 day is 42.98, and RSI 14 day is 44.61. The momentum index for 6 - 1 month is 13.70, and for 12 - 1 month is 9.25.
Conclusion
In conclusion, Saba Capital Management, L.P. (Trades, Portfolio)'s recent acquisition of ClearBridge MLP & Midstream Fund Inc. shares represents a strategic move to increase its stake in the energy sector. Despite the stock's poor performance indicators, the firm's decision to invest could be based on the stock's strong momentum and the potential for future growth in the energy sector. However, investors should exercise caution and conduct thorough research before making investment decisions.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
