NXG Cushing Midstream Energy Fund
SRV
New York Stock Exchange- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- CEO
- John Musgrave
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- One Energy Square Dallas TX United States of America 75206
- IPO Date
- Sep 4, 2007
- CIK
- 0001400897
- Website
- swankfunds.com
- Similar Companies
- Business
- NXG Cushing Midstream Energy Fund (NYSE: SRV) is a closed-end fund that seeks a high level of total return with an emphasis on current distributions paid at a high rate relative to market prices by investing primarily in publicly traded master limited partnerships (MLPs) and related public companies in the midstream energy sector; its portfolio includes equity securities of MLPs and other energy infrastructure companies involved in the transportation, storage, processing, and transmission of natural gas, natural gas liquids (NGLs), crude oil, refined petroleum products, and other energy commodities; the fund also invests in debt securities, including those issued by MLPs, pipeline companies, and other energy infrastructure firms. The fund operates within the energy infrastructure industry, targeting investors seeking high current income and capital appreciation through exposure to midstream assets across North America, with a focus on U.S.-based operations. NXG Investment Management, LLC serves as the investment advisor, with the fund headquartered in Dallas, Texas, and tracing its origins to the Cushing MLP Total Return Fund launched in 2008 before its rebranding. In recent developments, the fund completed a ticker symbol change from SRVX to SRV in late 2023 to align with NYSE listing conventions and enhance market visibility. It has pursued strategic portfolio adjustments amid volatile energy markets, including increased allocations to high-yield midstream MLPs such as Enterprise Products Partners, Energy Transfer, and MPLX LP, alongside selective investments in LNG export-related infrastructure to capitalize on growing global demand. No major acquisitions or funding rounds have been reported in the last two years, but the fund announced enhanced distribution policies in 2024 to support shareholder returns amid favorable midstream fundamentals driven by Permian Basin production growth and export capacity expansions.