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NXG Cushing Midstream Energy Fund (NXG Cushing Midstream Energy Fund) Effective Interest Rate on Debt % : 8.26% (As of Nov. 2023)


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What is NXG Cushing Midstream Energy Fund Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. NXG Cushing Midstream Energy Fund's annualized positive value of Interest Expense for the quarter that ended in Nov. 2023 was $1.35 Mil. NXG Cushing Midstream Energy Fund's average total debt for the quarter that ended in Nov. 2023 was $16.32 Mil. Therefore, NXG Cushing Midstream Energy Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Nov. 2023 was 8.26%.


NXG Cushing Midstream Energy Fund Effective Interest Rate on Debt % Historical Data

The historical data trend for NXG Cushing Midstream Energy Fund's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

NXG Cushing Midstream Energy Fund Effective Interest Rate on Debt % Chart

NXG Cushing Midstream Energy Fund Annual Data
Trend Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23
Effective Interest Rate on Debt %
Get a 7-Day Free Trial 3.74 1.53 1.22 3.55 9.31

NXG Cushing Midstream Energy Fund Semi-Annual Data
Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23
Effective Interest Rate on Debt % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.65 1.51 9.64 10.99 8.26

Competitive Comparison of NXG Cushing Midstream Energy Fund's Effective Interest Rate on Debt %

For the Asset Management subindustry, NXG Cushing Midstream Energy Fund's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


NXG Cushing Midstream Energy Fund's Effective Interest Rate on Debt % Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, NXG Cushing Midstream Energy Fund's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where NXG Cushing Midstream Energy Fund's Effective Interest Rate on Debt % falls into.



NXG Cushing Midstream Energy Fund Effective Interest Rate on Debt % Calculation

NXG Cushing Midstream Energy Fund's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Nov. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (A: Nov. 2022 )+Total Debt  (A: Nov. 2023 ))/ count )
=-1  *  -1.24/( (7.315+19.315)/ 2 )
=-1  *  -1.24/13.315
=9.31 %

where

Total Debt  (A: Nov. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=19.315 + 0
=19.315

NXG Cushing Midstream Energy Fund's annualized Effective Interest Rate on Debt % for the quarter that ended in Nov. 2023 is calculated as

Effective Interest Rate on Debt %
=-1  *  Interest Expense/( (Total Debt  (Q: May. 2023 )+Total Debt  (Q: Nov. 2023 ))/ count )
=-1  *  -1.348/( (13.315+19.315)/ 2 )
=-1  *  -1.348/16.315
=8.26 %

where

Total Debt  (Q: May. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=13.315 + 0
=13.315

Total Debt  (Q: Nov. 2023 )
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation
=19.315 + 0
=19.315

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is two times the semi-annual (Nov. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.


NXG Cushing Midstream Energy Fund  (NYSE:SRV) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.


NXG Cushing Midstream Energy Fund Effective Interest Rate on Debt % Related Terms

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NXG Cushing Midstream Energy Fund (NXG Cushing Midstream Energy Fund) Business Description

Traded in Other Exchanges
N/A
Address
600 N. Pearl Street, Suite 1205, Dallas, TX, USA, 75201
The Cushing MLP & Infrastructure Total Return Fund is a non-diversified, closed-end management investment company with an investment objective of seeking a high after-tax total return from a combination of capital appreciation and current income. The fund invests at least 80% of its net assets in a portfolio of infrastructure master limited partnerships (MLPs) and MLP-related investments.
Executives
Todd Sunderland other: Adviser COO 300 CRESCENT COURT, SUITE 1700, DALLAS TX 75201
Jeffrey A Engelsman officer: Chief Compliance Officer 865 SOUTH FIGUEROA STREET, SUITE 1800, LOS ANGELES CA 90017
John Alban officer: CFO/Treasurer and Interim CCO THE CUSHING MLP TOTAL RETURN FUND, 3300 OAK LAWN AVENUE, SUITE 650, DALLAS TX 75219
Saba Capital Management, L.p. 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Mark Rhodes officer: President 300 CRESCENT COURT, SUITE 1700, DALLAS TX 75201
John M. Musgrave other: Portfolio Manager 8117 PRESTON ROAD, SUITE 440, DALLAS TX 75225
Blake Nelson officer: Chief Financial Officer 8117 PRESTON ROAD, SUITE 440, DALLAS TX 75225
Brian R Bruce director 5945 GLENDOWER LANE, PLANO TX 75093
Andrea Mullins director 3060 PEACHTREE ROAD NW, SUITE 500, ATLANTA GA 30305
Boaz Weinstein 10 percent owner 405 LEXINGTON AVENUE, 58TH FLOOR, NEW YORK NY 10174
Mathew Calabro officer: Chief Compliance Officer 8117 PRESTON ROAD, SUITE 440, DALLAS TX 75225
Saket Kumar other: Adviser Managing Partner 300 CRESCENT COURT, SUITE 1700, DALLAS TX 75201
Brenda A Cline other: Trustee 5101 TENNYSON PARKWAY, PLANO TX 75024
Jerry V Swank officer: President and CEO 3300 OAK LAWN AVENUE, SUITE 650, DALLAS TX 75219
Daniel L Spears other: Partner C/O EMERALD OIL, INC., 200 COLUMBINE, SUITE 500, DENVER CO 80206

NXG Cushing Midstream Energy Fund (NXG Cushing Midstream Energy Fund) Headlines