SRV Research | Milton Maxwell

SRV

NXG Cushing Midstream Energy Fund

39.17

-0.96-2.39%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q4 '25)

No earnings call transcript available yet

Last Quarter (Q3 '25)

No earnings call transcript available

Key Stats

Market Cap

181.28M

P/E (TTM)

9.30

Basic EPS (TTM)

4.21

Dividend Yield

Recent Filings

8-K

11/19/25Nov 19, 2025

8-K

Fund trustee retires, CEO appointed

1/23/25Jan 23, 2025

NXG Cushing Midstream Energy Fund announced the retirement of Trustee Ronald P. Trout on January 23, 2025, prompting the Board to appoint John Musgrave, the Fund's CEO and President, as an Interested Trustee to fill the vacancy. This shift maintains executive oversight on the board. Meanwhile, John H. Alban transitioned to Independent Trustee status, gaining seats on the Audit and Nominating Committees. Board continuity holds firm.

8-K

Launches ATM share offering

1/14/25Jan 14, 2025

NXG Cushing Midstream Energy Fund launched an at-the-market offering on January 13, 2025, allowing sales of up to 745,000 common shares through Foreside Fund Services and UBS Securities, priced no lower than net asset value plus commission. This setup enables flexible capital raising amid midstream energy market dynamics. Shares trade on NYSE under SRV. Yet, execution hinges on market conditions.

8-K

Rights offering launches

10/24/24Oct 24, 2024

NXG Cushing Midstream Energy Fund launched a rights offering on October 23, 2024, distributing one transferable right per common share to record holders, allowing purchases of up to 1,004,176 new shares at an estimated $42.78 each—one for every three rights held, with over-subscription privileges for full exercisers. The offer expires November 14, 2024, aiming to raise capital via its shelf registration while enabling shareholders to maintain stakes. Rights are transferable, but dilution risks non-participants.

8-K

Fund launches ATM share offering

5/21/24May 21, 2024

NXG Cushing Midstream Energy Fund launched an at-the-market offering on May 17, 2024, allowing sales of up to 175,000 common shares through Foreside Fund Services and UBS Securities, priced no lower than net asset value plus commission. This setup enables flexible capital raising amid market conditions. Shares trade on NYSE under SRV. No proceeds use or risks detailed.

About

NXG Cushing Midstream Energy Fund is a closed-ended balanced mutual fund launched by Swank Capital, LLC. The fund is managed by Swank Energy Income Advisors L.P. It invests in the public equity and fixed income markets across the globe with a focus in United States. The fund typically invests in MLPs, Other Natural Resource Companies, and global commodities. It primarily invests in the securities of MLPs, other equity securities, debt securities, and securities of non-U.S. issuers employing a fundamental analysis. NXG Cushing Midstream Energy Fund was formed on May 23, 2007 and is domiciled in Dallas.

CEO

Mr. Jerry Vane Swank

IPO

9/4/2007

Website

https://www.swankfunds.com/our-fund.asp

Sector

Financial Services

Industry

Asset Management