ClearBridge MLP and Midstream Fund Inc (NYSE:CEM) Plans Dividend Increase – $0.63 Per Share

ClearBridge MLP and Midstream Fund Inc (NYSE:CEM – Get Rating) declared a quarterly dividend on Monday, January 23rd, Zacks reports. Shareholders of record on Tuesday, February 21st will be given a dividend of 0.63 per share by the investment management company on Tuesday, February 28th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 6.95%. The ex-dividend date is Friday, February 17th. This is an increase from ClearBridge MLP and Midstream Fund’s previous quarterly dividend of $0.62.

ClearBridge MLP and Midstream Fund has decreased its dividend by an average of 26.7% per year over the last three years and has raised its dividend annually for the last 2 consecutive years.

ClearBridge MLP and Midstream Fund Stock Performance

ClearBridge MLP and Midstream Fund stock opened at $36.28 on Tuesday. ClearBridge MLP and Midstream Fund has a 52-week low of $26.40 and a 52-week high of $37.99. The stock’s 50 day moving average price is $34.17 and its two-hundred day moving average price is $33.39.

Insiders Place Their Bets

In other ClearBridge MLP and Midstream Fund news, major shareholder Prudential Financial Inc purchased 285,715 shares of the business’s stock in a transaction on Thursday, November 17th. The shares were purchased at an average cost of $35.00 per share, for a total transaction of $10,000,025.00. Following the acquisition, the insider now owns 285,715 shares of the company’s stock, valued at $10,000,025. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Hedge Funds Weigh In On ClearBridge MLP and Midstream Fund

A number of large investors have recently modified their holdings of CEM. Quantedge Capital Pte Ltd lifted its holdings in shares of ClearBridge MLP and Midstream Fund by 8.4% in the 1st quarter. Quantedge Capital Pte Ltd now owns 141,261 shares of the investment management company’s stock worth $4,763,000 after purchasing an additional 11,000 shares in the last quarter. UBS Group AG raised its position in ClearBridge MLP and Midstream Fund by 1.1% in the 1st quarter. UBS Group AG now owns 103,935 shares of the investment management company’s stock valued at $3,504,000 after buying an additional 1,121 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in ClearBridge MLP and Midstream Fund in the 1st quarter valued at $2,483,000. First Republic Investment Management Inc. purchased a new stake in ClearBridge MLP and Midstream Fund in the 1st quarter valued at $235,000. Finally, Advisors Asset Management Inc. raised its position in ClearBridge MLP and Midstream Fund by 4.9% in the 1st quarter. Advisors Asset Management Inc. now owns 57,049 shares of the investment management company’s stock valued at $1,924,000 after buying an additional 2,686 shares during the last quarter.

ClearBridge MLP and Midstream Fund Company Profile

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Clearbridge MLP & Midstream Fund, Inc operates as a mutual fund, closed-end investment trust, which engages in the provision of high level of total return on cash distributions. It invests in master limited partnerships in the energy sector. The company was founded on March 31, 2010 and is headquartered in New York, NY.