Edgar Filing: Cohen & Steers MLP Income & Energy Opportunity Fund

Cohen & Steers MLP Income & Energy Opportunity Fund

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT

INVESTMENT COMPANIES

Investment Company Act File Number: 811-22780

Cohen & Steers MLP Income and Energy Opportunity Fund, Inc.

(Exact name of registrant as specified in charter)


280 Park Avenue, New York, NY 10017		10017
(Address of principal executive offices)		(Zip code)

Dana DeVivo

Cohen & Steers Capital Management, Inc.

280 Park Avenue

New York, New York 10017

(Name and address of agent for service)

Registrant’s telephone number, including area code: (212) 832-3232

Date of fiscal year end: November 30

Date of reporting period: May 31, 2018

Item 1. Reports to Stockholders.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

To Our Shareholders:

We would like to share with you our report for the six months ended May 31, 2018. The total returns for the Fund and its comparative benchmarks were:


	Six Months Ended May 31, 2018
Cohen & Steers MLP Income and Energy Opportunity Fund at Net Asset Value^a		13.37	%
Cohen & Steers MLP Income and Energy Opportunity Fund at Market Value^a		15.28	%
Blended Benchmark—90% Alerian MLP Index/10% ICE BofAML Fixed-Rate Preferred Securities Index^b		5.21	%
Alerian MLP Index^b		5.71	%
S&P 500 Index^b		3.16	%

The performance data quoted represent past performance. Past performance is no guarantee of future results. The investment return and the principal value of an investment will fluctuate and shares, if sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Performance results reflect the effects of leverage, resulting from borrowings under a credit agreement. Current total returns of the Fund can be obtained by visiting our website at cohenandsteers.com. The Fund’s returns assume the reinvestment of all dividends and distributions at prices obtained under the Fund’s dividend reinvestment plan. Index performance does not reflect the deduction of any fees, taxes or expenses. An investor cannot invest directly in an index. Performance figures for periods shorter than one year are not annualized.

Distribution Policy

Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (the Fund) makes regular monthly distributions at a level rate (the Policy). Dividends from net investment income, if any, are declared quarterly and paid monthly. As a result of the Policy, the Fund may pay distributions in excess of the Fund’s current or accumulated earnings and profits. This excess would be a return of capital distributed from the Fund’s assets. Distributions of capital decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to make these distributions, the Fund may have to sell portfolio securities at a less than opportune time.

^a	As a closed-end investment company, the price of the Fund’s exchange-traded shares will be set by market forces and can deviate from the net asset value (NAV) per share of the Fund.

The Alerian MLP Index (Total Return) is a capped, float-adjusted, capitalization-weighted index, whose constituents represent approximately 85% of total MLP float-adjusted market capitalization. The ICE BofAML Fixed-Rate Preferred Securities Index tracks the performance of fixed-rate U.S. dollar-denominated preferred securities issued in the U.S. domestic market. The S&P 500 Index is an unmanaged index of 500 large-capitalization stocks that is frequently used as a general measure of U.S. stock market performance.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

Market Review

MLPs advanced in the six-months ended May 31, 2018. Stocks rallied strongly in December and January on improving supply/demand fundamentals and earnings results that generally met or exceeded expectations. However, the midstream market was weak in February following the announcement of certain ‘strategic restructuring’ transactions. Though these announcements typically came with distribution cuts which likely weighed on near-term sentiment, they represent strong steps taken by companies to improve their financial health and become more self-funding, in our opinion. We also believe this should benefit companies’ longer-term total-return prospects.

Further pressuring the stocks in March was a Federal Energy Regulatory Commission (FERC) policy change that disallows the recovery of income tax allowance in rates for certain interstate pipelines owned by MLPs. While the FERC news initially weighed on midstream energy companies broadly, most stocks soon recovered as it became clear that aside from a select few companies, the proposal would only have a modest impact on the midstream energy industry in general. We believe that the aggregate cumulative headwind to industry cash flows is less than 2.5%, although a small subset of MLPs may see cash flows decline by 10–20% as the ruling takes effect, likely accelerating certain conversions of MLPs to C-corps.

The sector continued to recover in April and May as investors focused on the sector’s better-than-expected first-quarter earnings, which underscored improving industry supply-demand fundamentals and widening differentials, particularly in the Permian basin in West Texas. Infrastructure constraints in select basins are starting to materialize, as evidenced by $15 oil price differentials from Midland to East Houston.

Those midstream industry fundamentals were partially aided by strengthening energy prices. Natural gas prices climbed as storage levels in the U.S. fell to 25% below their five-year average, while crude oil rallied to four-year highs on strong global demand and as geopolitical tensions rose on multiple fronts, including Iran and Venezuela. U.S. energy exports continued to accelerate. And the prospect of reduced global supply further helped to support the midstream energy space, as North American shale producers are a key marginal supplier that can grow production, potentially helping to offset any supply disruptions that may develop globally.

Fund Performance

The Fund had a positive total return in the period and outperformed its blended benchmark on both a NAV and market price basis. Stock selection and an underweight allocation in natural gas pipelines contributed to relative performance. The sector declined sharply in the period, primarily stemming from potential exposure to the FERC ruling. In the wake of that policy change, TC Pipelines LP announced a 35% distribution cut and Boardwalk Pipeline Partners indicated the potential for its general partner to exercise a call right, which may amount to a buyout of the units at a low price. The portfolio was substantially underweight TC Pipelines, did not own Boardwalk and additionally benefited from an overweight in Cheniere Energy Partners LP, which rose materially on sponsor Cheniere Energy’s plans to expand its liquefied natural gas export capacity.

Security selection in the crude/refined products and diversified sectors likewise contributed to relative performance. We chose not to own Enbridge Energy Partners and were substantially underweight Dominion Midstream Partners, companies that declined materially on the FERC news.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

Additionally in the crude/refined sector, performance benefited from an underweight allocation in Buckeye Partners LP, which fell after releasing disappointing results. An overweight position in Plains All American Pipeline LP advanced on rising output of crude oil in the Permian basin.

An out-of-benchmark allocation in the compression sector also aided relative performance. Archrock Partners LP rose materially on consensus-beating quarterly results and news that its parent, Archrock, Inc., would acquire all remaining shares that it did not previously own for a premium.

The portfolio’s non-allocation to the refining sector detracted from relative performance, as the one security in the sector, CVR Refining LP, was acquired at a premium by its parent. An out-of-index position in independent renewable energy company Pattern Energy Group also detracted from relative performance.

Impact of Leverage on Fund Performance

The Fund employs leverage as part of a yield-enhancement strategy. Leverage, which can increase total return in rising markets (just as it can have the opposite effect in declining markets), significantly contributed to the Fund’s NAV performance for the period.

Sincerely,

LOGO

ROBERT S. BECKER

Portfolio Manager




BEN MORTON		TYLER S. ROSENLICHT
Portfolio Manager		Portfolio Manager

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

The views and opinions in the preceding commentary are subject to change without notice and are as of the date of the report. There is no guarantee that any market forecast set forth in the commentary will be realized. This material represents an assessment of the market environment at a specific point in time, should not be relied upon as investment advice and is not intended to predict or depict performance of any investment.

Visit Cohen & Steers online at cohenandsteers.com

For more information about the Cohen & Steers family of mutual funds, visit cohenandsteers.com. Here you will find fund net asset values, fund fact sheets and portfolio highlights, as well as educational resources and timely market updates.

Our website also provides comprehensive information about Cohen & Steers, including our most recent press releases, profiles of our senior investment professionals and their investment approach to each asset class. The Cohen & Steers family of mutual funds invests in major real asset categories including real estate securities, listed infrastructure, commodities and natural resource equities, as well as preferred securities and other income solutions.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

Our Leverage Strategy

(Unaudited)

Our current leverage strategy utilizes borrowings up to the maximum permitted by the Investment Company Act of 1940 to provide additional capital for the Fund, with an objective of increasing the net income available for shareholders. As of May 31, 2018, leverage represented 26% of the Fund’s managed assets.

Through fixed rate financing, the Fund has locked in interest rates on capital for periods expiring in 2021 and 2022^a (where we lock in our fixed rate obligation over various terms). Locking in our leveraging costs is designed to protect the dividend-paying ability of the Fund. The use of leverage increases the volatility of the Fund’s net asset value in both up and down markets. However, we believe that locking in the Fund’s leveraging costs for the various terms helps protect the Fund’s expenses from an increase in short-term interest rates.

Leverage Facts^b,c


Leverage (as a % of managed assets)		26%
% Fixed Rate		100%
Weighted Average Rate on Financing		2.7%^a
Weighted Average Term on Financing		3.5 years^a

The Fund seeks to enhance its dividend yield through leverage. The use of leverage is a speculative technique and there are special risks and costs associated with leverage. The net asset value of the Fund’s shares may be reduced by the issuance and ongoing costs of leverage. So long as the Fund is able to invest in securities that produce an investment yield that is greater than the total cost of leverage, the leverage strategy will produce higher current net investment income for the shareholders. On the other hand, to the extent that the total cost of leverage exceeds the incremental income gained from employing such leverage, shareholders would realize lower net investment income. In addition to the impact on net income, the use of leverage will have an effect of magnifying capital appreciation or depreciation for shareholders. Specifically, in an up market, leverage will typically generate greater capital appreciation than if the Fund were not employing leverage. Conversely, in down markets, the use of leverage will generally result in greater capital depreciation than if the Fund had been unlevered. To the extent that the Fund is required or elects to reduce its leverage, the Fund may need to liquidate investments, including under adverse economic conditions which may result in capital losses potentially reducing returns to shareholders. There can be no assurance that a leveraging strategy will be successful during any period in which it is employed.

On February 24, 2015, the Fund amended its credit agreement to extend the fixed rate financing terms, originally expiring in 2018 and 2019, by three years now expiring in 2021 and 2022. The weighted average rate on financing does not include the three year extension for the 2022 fixed-rate tranche and will increase when the 2022 extended fixed-rate tranche becomes effective. The weighted average term of financing includes the three year extension.

^b	Data as of May 31, 2018. Information is subject to change.

^c	See Note 6 in Notes to Financial Statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

May 31, 2018

Top Ten Holdings^a

(Unaudited)


Security	Value		% of Managed Assets
Enterprise Products Partners LP	$	52,447,344		13.2
Energy Transfer Partners LP		43,742,193		11.0
MPLX LP		39,634,908		9.9
Plains All American Pipeline LP		26,743,188		6.7
Williams Partners LP		21,197,838		5.3
DCP Midstream Partners LP		12,258,675		3.1
Genesis Energy LP		9,469,086		2.4
Shell Midstream Partners LP		9,347,825		2.3
Cheniere Energy Partners LP		9,187,637		2.3
Crestwood Equity Partners LP		8,836,800		2.2

^a	Top ten holdings are determined on the basis of the value of individual securities held. The Fund may also hold positions in other types of securities issued by the companies listed above. See the Schedule of Investments for additional details on such other positions.

Sector Breakdown

(Based on Managed Assets)

(Unaudited)

LOGO

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

SCHEDULE OF INVESTMENTS

May 31, 2018 (Unaudited)


		Number of Shares/Units		Value
MASTER LIMITED PARTNERSHIPS AND RELATED COMPANIES	123.8%
COMPRESSION	1.6%
Archrock, Inc.^a			402,696	$	4,651,139

CRUDE/REFINED PRODUCTS	16.4%
Buckeye Partners LP^a			162,750		5,867,138
Enbridge Energy Management, LLC^a			637,366		6,054,977
Genesis Energy LP^a			431,197		9,469,086
Plains All American Pipeline LP^a			1,138,008		26,743,188

					48,134,389

DIVERSIFIED MIDSTREAM	62.5%
Andeavor Logistics LP^a			173,849		7,458,122
Energy Transfer Equity LP^a			455,913		7,878,177
Energy Transfer Partners LP^a			2,303,433		43,742,193
Enterprise Products Partners LP^a			1,814,787		52,447,344
Kinder Morgan, Inc.^a			437,279		7,293,814
MPLX LP^a			1,103,729		39,634,908
Pembina Pipeline Corp. (CAD) (Canada)			107,893		3,752,872
Williams Partners LP^a			532,609		21,197,838

					183,405,268

GATHERING & PROCESSING	33.6%
American Midstream Partners LP^a			234,898		2,478,174
Antero Midstream GP LP^a			227,745		4,384,091
Antero Midstream Partners LP^a			242,800		7,344,700
BP Midstream Partners LP^a			146,000		3,120,020
Crestwood Equity Partners LP^a			263,000		8,836,800
DCP Midstream Partners LP^a			292,500		12,258,675
Dominion Midstream Partners LP			129,200		1,653,760
EnLink Midstream Partners LP^a			204,400		3,495,240
Hess Midstream Partners LP^a			271,218		5,684,729
Keyera Corp. (CAD) (Canada)			70,500		1,976,458
Noble Midstream Partners LP^a			125,906		6,492,972
Oasis Midstream Partners LP^a			100,000		1,867,000
ONEOK, Inc.^a			102,398		6,979,448
Rice Midstream Partners LP^a			422,075		7,795,725
Shell Midstream Partners LP^a			417,500		9,347,825
Summit Midstream Partners LP^a			292,233		4,748,786

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

May 31, 2018 (Unaudited)


		Number of Shares/Units		Value
Western Gas Equity Partners LP^a			188,270	$	6,909,509
Western Gas Partners LP^a			64,238		3,319,178

					98,693,090

MARINE SHIPPING/OFFSHORE	3.3%
GasLog Partners LP (Monaco)			263,549		6,443,773
Golar LNG Partners LP (Marshall Islands)			190,517		3,194,970

					9,638,743

NATURAL GAS PIPELINES	5.3%
Cheniere Energy Partners LP^a			255,354		9,187,637
Cheniere Energy Partners LP Holdings LLC^a			141,288		4,271,136
Spectra Energy Partners LP^a			70,500		2,124,870

					15,583,643

OTHER	1.1%
Sprague Resources LP^a			132,345		3,136,577

TOTAL MASTER LIMITED PARTNERSHIPS AND RELATED COMPANIES (Identified cost—$334,877,616)					363,242,849

PREFERRED SECURITIES—$25 PAR VALUE	5.3%
BANKS	1.3%
Bank of America Corp., 6.00%, Series GG^b			23,900		607,538
Bank of America Corp., 6.00%, Series EE^b			31,475		810,796
Citigroup, Inc., 6.30%, Series S^b			16,926		442,276
GMAC Capital Trust I, 8.128%, due 2/15/40, Series 2 (TruPS) (FRN) (3 Month US LIBOR + 5.785%)^c			41,175		1,075,079
JPMorgan Chase & Co., 6.125%, Series Y^b			10,600		275,812
New York Community Bancorp, Inc., 6.375% to 3/17/27, Series A^b,d			3,381		93,552
Wells Fargo & Co., 5.85% to 9/15/23, Series Q^b,d			9,042		233,555
Wells Fargo & Co., 5.625%, Series Y^b			14,575		364,084

					3,902,692

CHEMICALS	0.3%
CHS, Inc., 7.50%, Series 4^b			29,741		823,231

DIVERSIFIED FINANCIAL SERVICES	0.1%
Morgan Stanley, 5.85% to 4/15/27, Series K^b,d			7,704		198,686

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

May 31, 2018 (Unaudited)


		Number of Shares/Units		Value
FINANCIAL—INVESTMENT ADVISORY SERVICES	0.0%
Ares Management LP, 7.00%, Series A^b			2,142	$	57,598

INSURANCE	0.6%
LIFE/HEALTH INSURANCE	0.1%
Unum Group, 6.25%, due 6/15/58			11,050		275,642

MULTI-LINE	0.1%
WR Berkley Corp., 5.70%, due 3/30/58			15,935		392,639

PROPERTY CASUALTY—FOREIGN	0.1%
Validus Holdings Ltd., 5.80%, Series B^b			17,442		436,399

REINSURANCE—FOREIGN	0.3%
Arch Capital Group Ltd., 5.45%, Series F^b			6,000		145,920
Axis Capital Holdings Ltd., 5.50%, Series E^b			25,625		629,350

					775,270

TOTAL INSURANCE					1,879,950

MARINE SHIPPING/OFFSHORE	0.1%
GasLog Partners LP, 8.625% to 6/15/27, Series A (Monaco)^b,d			11,000		290,400

PIPELINES	0.5%
Enbridge, Inc., 6.375% to 4/15/23, due 4/15/78, Series B (Canada)^d			23,612		605,884
Energy Transfer Partners LP, 7.375% to 5/15/23, Series C^b,d			28,475		714,153
NuStar Energy LP, 7.625% to 6/15/22, Series B^b,d			8,725		188,024

					1,508,061

REAL ESTATE	0.7%
DIVERSIFIED	0.6%
VEREIT, 6.70%, Series F^b			67,237		1,701,096

INDUSTRIALS	0.0%
PS Business Parks, Inc., 5.70%, Series V^b			3,054		75,526

SHOPPING CENTERS—COMMUNITY CENTER	0.1%
Kimco Realty Corp., 5.625%, Series K^b			6,460		149,807

TOTAL REAL ESTATE					1,926,429

TECHNOLOGY—SOFTWARE	0.3%
eBay, 6.00%, due 2/1/56			30,997		813,361

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

May 31, 2018 (Unaudited)


		Number of Shares/Units			Value
UTILITIES	1.4%
DTE Energy Co., 6.00, due 12/15/76, Series F			16,250		$	425,262
Integrys Holdings, Inc., 6.00% to 8/1/23, due 8/1/73^d			18,029			475,335
SCE Trust IV, 5.375% to 9/15/25, Series J^b,d			20,160			512,870
SCE Trust V, 5.45% to 3/15/26, Series K^b,d			11,748			300,984
SCE Trust VI, 5.00%^b			17,825			406,410
Southern Co./The, 6.25%, due 10/15/75			54,000			1,418,580
Southern Co./The, 5.25%, due 12/1/77			17,000			413,950

						3,953,391

TOTAL PREFERRED SECURITIES—$25 PAR VALUE (Identified cost—$14,961,312)						15,353,799


		Principal Amount
PREFERRED SECURITIES—CAPITAL SECURITIES	5.0%
BANKS	1.8%
Bank of America Corp., 6.25% to 9/5/24, Series X^b,d		$	1,130,000			1,176,861
Citigroup, Inc., 6.25% to 8/15/26, Series T^b,d			175,000			180,250
Citigroup, Inc., 5.90% to 2/15/23^a,b,d			950,000			970,425
CoBank ACB, 6.25% to 10/1/22, Series F^b,d			4,300	^†		455,263
Countrywide Capital III, 8.05%, due 6/15/27, Series B			200,000			251,579
Goldman Sachs Group, Inc./The, 5.70% to 5/10/19, Series L^b,d			350,000			356,038
JPMorgan Chase & Co., 5.829%, Series I (FRN) (3 Month US LIBOR + 3.47%)^b,c			680,000			685,100
Wells Fargo & Co., 5.895%, Series K (FRN) (3 Month US LIBOR + 3.77%)^a,b,c			865,000			876,677
Wells Fargo Capital X, 5.95%, due 12/1/86, (TruPS)			250,000			267,435

						5,219,628

BANKS—FOREIGN	1.0%
Barclays PLC, 7.875% to 3/15/22 (United Kingdom)^b,d,e,f			800,000			837,724
HSBC Holdings PLC, 6.25% to 3/23/23 (United Kingdom)^b,d,f			200,000			200,450
Royal Bank of Scotland Group PLC, 8.625% to 8/15/21 (United Kingdom)^a,b,d,f			1,000,000			1,084,700
Societe Generale SA, 7.375% to 9/13/21, 144A (France)^b,d,f,g			200,000			207,000

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

May 31, 2018 (Unaudited)


		Principal Amount			Value
Societe Generale SA, 7.875% to 12/18/23, 144A (France)^b,d,f,g		$	400,000		$	417,000
Societe Generale SA, 6.750% to 4/6/28, 144A (France)^b,d,f,g			200,000			190,450

						2,937,324

INDUSTRIALS—DIVERSIFIED MANUFACTURING	0.1%
General Electric Co., 5.00% to 1/21/21, Series D^b,d			400,000			395,700

INSURANCE	0.1%
LIFE/HEALTH INSURANCE	0.1%
MetLife, Inc., 5.875% to 3/15/28, Series D^b,d			175,000			178,283

PROPERTY CASUALTY	0.0%
Assurant, Inc., 7.00% to 3/27/28, due 3/27/48^d			150,000			154,648

TOTAL INSURANCE						332,931

INTEGRATED TELECOMMUNICATIONS SERVICES	0.2%
Centaur Funding Corp., 9.08%, due 4/21/20, 144A (Cayman Islands)^g			500	^†		547,500

MATERIAL—METALS & MINING	0.1%
BHP Billiton Finance USA Ltd., 6.75% to 10/20/25, due 10/19/75, 144A (Australia)^d,g			200,000			218,100

PIPELINES	0.5%
Enbridge, Inc., 6.25% to 3/1/28, due 3/1/78 (Canada)^d			250,000			241,711
Enterprise Products Operating LP, 6.066%, due 8/1/66, Series A (FRN) (3 Month US LIBOR + 3.7075%)^c			139,000			139,521
Plains All American Pipeline LP, 6.125% to 11/15/22, Series B^a,b,d			357,000			342,720
Transcanada Trust, 5.875% to 8/15/26, due 8/15/76, Series 16-A (Canada)^a,d			821,000			823,053

						1,547,005

TELECOMMUNICATION—COMMUNICATIONS	0.0%
Vodafone Group PLC, 3.750%, due 1/16/24 (United Kingdom)			100,000			99,599

UTILITIES	1.2%
Emera, Inc., 6.75% to 6/15/26, due 6/15/76, Series 16-A (Canada)^d			600,000			638,219

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

May 31, 2018 (Unaudited)


			Principal Amount		Value
Enel SpA, 8.75% to 9/24/23, due 9/24/73, 144A (Italy)^d,g			$	1,800,000	$	2,040,750
Southern California Edison Co., 6.25% to 2/1/22, Series E^b,d				350,000		371,700
Southern Co./The, 5.50% to 3/15/22, due 3/15/57, Series B^a,d				400,000		414,586

						3,465,255

TOTAL PREFERRED SECURITIES—CAPITAL SECURITIES (Identified cost—$14,692,608)						14,763,042


			Number of Shares
SHORT-TERM INVESTMENTS	1.9	%
MONEY MARKET FUNDS
State Street Institutional Treasury Money Market Fund, Premier Class, 1.66%^h				5,546,399		5,546,399

TOTAL SHORT-TERM INVESTMENTS (Identified cost—$5,546,399)						5,546,399

TOTAL INVESTMENTS IN SECURITIES (Identified cost—$370,077,935)	136.0	%				398,906,089
LIABILITIES IN EXCESS OF OTHER ASSETS	(36.0	)				(105,518,690	)

NET ASSETS (Equivalent to $10.95 per share based on 26,793,340 shares of common stock outstanding)	100.0	%			$	293,387,399

Glossary of Portfolio Abbreviations


CAD		Canadian Dollar
FRN		Floating Rate Note
LIBOR		London Interbank Offered Rate
TruPS		Trust Preferred Securities

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

SCHEDULE OF INVESTMENTS—(Continued)

May 31, 2018 (Unaudited)

Note: Percentages indicated are based on the net assets of the Fund.

^†	Represents shares.

^a	All or a portion of the security is pledged as collateral in connection with the Fund’s credit agreement. $216,910,421 in aggregate has been pledged as collateral.

^b	Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer.

^c	Variable rate. Rate shown is in effect at May 31, 2018.

^d	Security converts to floating rate after the indicated fixed-rate coupon period.

^e	Securities exempt from registration under Regulation S of the Securities Act of 1933. These securities are subject to resale restrictions. Aggregate holdings amounted to $837,724 or 0.3% of the net assets of the Fund, of which 0.0% are illiquid.

Contingent Capital Security (CoCo). CoCos are preferred securities with loss absorption characteristics built into the terms of the security for the benefit of the issuer, for example an automatic write-down of principal or a mandatory conversion into the issuer’s common stock under certain adverse circumstances, such as the issuer’s capital ratio falling below a specified level. Aggregate holdings amounting to $2,937,324 or 1.0% of the net assets of the fund.

^g	Securities exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold to qualified institutional buyers. Aggregate holdings amounted to $3,620,800 or 1.2% of the net assets of the Fund, of which 0.0% are illiquid.

^h	Rate quoted represents the annualized seven-day yield of the fund.

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

STATEMENT OF ASSETS AND LIABILITIES

May 31, 2018 (Unaudited)


ASSETS:
Investments in securities, at value (Identified cost—$370,077,935)	$	398,906,089
Cash		24,733
Foreign currency, at value (Identified cost—$19,463)		19,216
Receivable for:
Dividends, distributions and interest		284,909
Investment securities sold		25,662
Other assets		18,659

Total Assets		399,279,268

LIABILITIES:
Payable for:
Credit agreement		105,000,000
Investment advisory fees		330,429
Dividends and distributions declared		130,074
Investment securities purchased		77,965
Administration fees		26,434
Interest expense		15,590
Directors’ fees		3,861
Other liabilities		307,516

Total Liabilities		105,891,869

NET ASSETS	$	293,387,399

NET ASSETS consist of:
Paid-in capital	$	391,063,251
Dividends in excess of net investment income, net of income taxes		(17,752,329	)
Accumulated net realized loss, net of income taxes		(108,751,274	)
Net unrealized appreciation, net of income taxes		28,827,751

	$	293,387,399

NET ASSET VALUE PER SHARE:
($293,387,399 ÷ 26,793,340 shares outstanding)	$	10.95

MARKET PRICE PER SHARE	$	10.33

MARKET PRICE PREMIUM (DISCOUNT) TO NET ASSET VALUE PER SHARE		(5.66	)%

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

STATEMENT OF OPERATIONS

For the Six Months Ended May 31, 2018 (Unaudited)


Investment Income:
Distributions from master limited partnerships	$	12,744,687
Less return of capital on distributions		(12,151,534	)

Net distributions from master limited partnerships		593,153
Dividend income (net of $21,879 of foreign withholding tax)		783,272
Interest income		373,068

Total Investment Income		1,749,493

Expenses:
Investment advisory fees		1,928,656
Interest expense		1,061,864
Administration fees		177,150
Professional fees		131,063
Shareholder reporting expenses		21,494
Custodian fees and expenses		14,373
Directors’ fees and expenses		9,885
Transfer agent fees and expenses		9,651
Miscellaneous		24,579

Total Expenses		3,378,715

Net Investment Income (Loss), net of income taxes		(1,629,222	)

Net Realized and Unrealized Gain (Loss):
Net realized gain (loss) on:
Investments in securities		5,359,508
Foreign currency transactions		11,247

Net realized gain (loss), net of income taxes		5,370,755

Net change in unrealized appreciation (depreciation) on:
Investments in securities		31,024,357
Foreign currency translations		(52	)

Net change in unrealized appreciation (depreciation), net of income taxes		31,024,305

Net Realized and Unrealized Gain (Loss), net of income taxes		36,395,060

Net Increase (Decrease) in Net Assets Resulting from Operations	$	34,765,838

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

STATEMENT OF CHANGES IN NET ASSETS (Unaudited)


	For the Six Months Ended May 31, 2018			For the Year Ended November 30, 2017
Change in Net Assets:
From Operations:
Net investment income (loss), net of income taxes	$	(1,629,222	)	$	(3,944,070	)
Net realized gain (loss), net of income taxes		5,370,755			14,440,224
Net change in unrealized appreciation (depreciation), net of income taxes		31,024,305			(32,797,126	)

Net increase (decrease) in net assets resulting from operations		34,765,838			(22,300,972	)

Dividends and Distributions to Shareholders from:
Net investment income		(5,417,200	)		(5,375,074	)
Return of capital		(6,961,323	)		(19,381,972	)

Total dividends and distributions to shareholders		(12,378,523	)		(24,757,046	)

Total increase (decrease) in net assets		22,387,315			(47,058,018	)
Net Assets:
Beginning of period		271,000,084			318,058,102

End of period^a	$	293,387,399		$	271,000,084

^a	Includes dividends in excess of net investment income, net of income taxes of $17,752,329 and $10,705,907, respectively.

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

STATEMENT OF CASH FLOWS

For the Six Months Ended May 31, 2018 (Unaudited)


Increase (Decrease) in Cash:
Cash Flows from Operating Activities:
Net increase (decrease) in net assets resulting from operations	$	34,765,838
Adjustments to reconcile net increase (decrease) in net assets resulting from operations to net cash provided by operating activities:
Purchases of long-term investments		(114,911,639	)
Proceeds from sales and maturities of long-term investments		118,051,108
Net purchases, sales and maturities of short-term investments		(1,212,058	)
Return of capital on distributions		12,151,534
Net amortization of premium on investments		72,708
Net increase in dividends and interest receivable and other assets		(30,755	)
Net decrease in interest expense payable, accrued expenses and other liabilities		(71,918	)
Net change in unrealized appreciation on investments		(31,024,357	)
Net realized gain on investments		(5,359,508	)

Cash provided by operating activities		12,430,953

Cash Flows from Financing Activities:
Dividends and distributions paid		(12,387,199	)

Increase (decrease) in cash		43,754
Cash at beginning of period (including foreign currency)		195

Cash at end of period (including foreign currency)	$	43,949

Supplemental Disclosure of Cash Flow Information:

During the six months ended May 31, 2018, interest paid was $1,057,591.

The Fund received $216,661 from paid-in-kind stock dividends for the six months ended May 31, 2018. See Note 1 Organization and Significant Accounting policies.

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

FINANCIAL HIGHLIGHTS (Unaudited)

The following table includes selected data for a share outstanding throughout each period and other performance information derived from the financial statements. It should be read in conjunction with the financial statements and notes thereto.


	For the Six Months Ended May 31, 2018			For the Year Ended November 30,												For the Period March 26, 2013^b through November 30, 2013^a
Per Share Operating Performance:	For the Six Months Ended May 31, 2018			2017			2016			2015^a			2014^a			For the Period March 26, 2013^b through November 30, 2013^a
Net asset value, beginning of period	$	10.11		$	11.87		$	13.01		$	22.50		$	19.44		$	19.10

Income (loss) from investment operations:

Net investment income (loss)^c		(0.06	)		(0.15	)		(0.17	)		0.06			(0.01	)		(0.03	)
Net realized and unrealized gain (loss)		1.36			(0.69	)		0.20			(8.24	)		4.33			1.04

Total from investment operations		1.30			(0.84	)		0.03			(8.18	)		4.32			1.01

Less dividends and distributions to shareholders from:

Net investment income		(0.20	)		(0.20	)		—			(0.18	)		—			(0.04	)
Net realized gain		—			—			—			—			(1.09	)		(0.05	)
Return of capital		(0.26	)		(0.72	)		(1.17	)		(1.14	)		(0.17	)		(0.54	)

Total dividends and distributions to shareholders		(0.46	)		(0.92	)		(1.17	)		(1.32	)		(1.26	)		(0.63	)

Offering costs charged to paid-in capital		—			—			—			—			—			(0.04	)

Anti-dilutive effect from the repurchase of shares		—			—			—			0.01			0.00	^d		0.00	^d

Net increase (decrease) in net asset value		0.84			(1.76	)		(1.14	)		(9.49	)		3.06			0.34

Net asset value, end of period	$	10.95		$	10.11		$	11.87		$	13.01		$	22.50		$	19.44

Market value, end of period	$	10.33		$	9.38		$	10.37		$	11.09		$	20.25		$	17.38


Total net asset value return^e		13.37	%^f		–7.27	%		2.75	%		–37.40	%		23.36	%		5.34	%^f

Total market value return^e		15.28	%^f		–1.52	%		5.31	%		–40.71	%		24.18	%		–10.06	%^f

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

FINANCIAL HIGHLIGHTS (Unaudited)—(Continued)


	For the Six Months Ended May 31, 2018			For the Year Ended November 30,												For the Period March 26, 2013^b through November 30, 2013^a
Ratios/Supplemental Data:	For the Six Months Ended May 31, 2018			2017			2016			2015^a			2014^a			For the Period March 26, 2013^b through November 30, 2013^a
Net assets, end of period (in millions)	$	293.4		$	271.0		$	318.1		$	348.6		$	604.3		$	522.0

Ratios to average daily net assets:

Expenses^g		2.40	%^h		2.32	%		2.95	%		(0.74	)%		4.15	%		3.48	%^h

Expenses (excluding deferred tax benefit/expense)		2.40	%^h		2.32	%		2.95	%		2.47	%		2.26	%		2.42	%^h

Expenses (excluding deferred tax benefit/expense and interest expense)		1.65	%^h		1.66	%		2.16	%		1.73	%		1.63	%		1.71	%^h

Net investment income (loss)^g		(1.16	)%^h		(1.25	)%		(1.63	)%		4.10	%		(2.25	)%		(1.64	)%^h

Net investment income (loss) (excluding deferred tax benefit/expense allocated to realized and unrealized gain (loss))		(1.16	)%^h		(1.25	)%		(1.63	)%		0.34	%		(0.07	)%		(0.36	)%^h

Ratio of expenses to average daily managed assets^g,i		1.75	%^h		1.74	%		2.09	%		(0.51	)%		2.99	%		2.54	%^h

Portfolio turnover rate		30	%^f		46	%		54	%		29	%		28	%		25	%^f

Credit Agreement

Asset coverage ratio for credit agreement		379	%		358	%		403	%		255	%		369	%		332	%

Asset coverage per $1,000 for credit agreement	$	3,794		$	3,581		$	4,029		$	2,549		$	3,686		$	3,320

^a	Consolidated with Cohen & Steers MLP Investment Fund (the Subsidiary). After the close of business on November 30, 2015, all of the assets and liabilities of the Subsidiary were transferred to the Fund in a tax-free transaction.

^b	Commencement of operations.

^c	Calculation based on average shares outstanding.

^d	Amount is less than $0.005.

Total net asset value return measures the change in net asset value per share over the period indicated. Total market value return is computed based upon the Fund’s market price per share and excludes the effects of brokerage commissions. Dividends and distributions are assumed, for purposes of these calculations, to be reinvested at prices obtained under the Fund’s dividend reinvestment plan.

^f	Not annualized.

^g	Ratio includes the deferred tax benefit/expense allocated to net investment income (loss) and the deferred tax benefit/expense allocated to realized and unrealized gain (loss), if any.

^h	Annualized.

ⁱ	Average daily managed assets represent net assets plus the outstanding balance of the credit agreement.

See accompanying notes to financial statements.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)

Note 1. Organization and Significant Accounting Policies

Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. (the Fund) was incorporated under the laws of the State of Maryland on December 13, 2012 and is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as a non-diversified, closed-end management investment company. The Fund’s investment objective is to provide attractive total return, comprised of high current income and price appreciation.

The following is a summary of significant accounting policies consistently followed by the Fund in the preparation of its financial statements. The Fund is an investment company and, accordingly, follows the investment company accounting and reporting guidance of the Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 946—Investment Companies. The accounting policies of the Fund are in conformity with accounting principles generally accepted in the United States of America (GAAP). The preparation of the financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.

Portfolio Valuation: Investments in securities that are listed on the NYSE are valued, except as indicated below, at the last sale price reflected at the close of the NYSE on the business day as of which such value is being determined. If there has been no sale on such day, the securities are valued at the mean of the closing bid and ask prices on such day or, if no ask price is available, at the bid price.

Securities not listed on the NYSE but listed on other domestic or foreign securities exchanges (including NASDAQ) are valued in a similar manner. Securities traded on more than one securities exchange are valued at the last sale price reflected at the close of the exchange representing the principal market for such securities on the business day as of which such value is being determined. If after the close of a foreign market, but prior to the close of business on the day the securities are being valued, market conditions change significantly, certain non-U.S. equity holdings may be fair valued pursuant to procedures established by the Board of Directors.

Readily marketable securities traded in the over-the-counter (OTC) market, including listed securities whose primary market is believed by Cohen & Steers Capital Management, Inc. (the investment advisor) to be OTC, are valued on the basis of prices provided by a third-party pricing service or third-party broker-dealers when such prices are believed by the investment advisor, pursuant to delegation by the Board of Directors, to reflect the fair value of such securities.

Fixed-income securities are valued on the basis of prices provided by a third-party pricing service or third-party broker-dealers when such prices are believed by the investment advisor, pursuant to delegation by the Board of Directors, to reflect the fair value of such securities. The pricing services or broker-dealers use multiple valuation techniques to determine fair value. In instances where sufficient market activity exists, the pricing services or broker-dealers may utilize a market-based approach through which quotes from market makers are used to determine fair value. In instances where sufficient market activity may not exist or is limited, the pricing services or broker-dealers also utilize proprietary valuation models which may consider market transactions in comparable securities and the various relationships between securities in determining fair value and/or characteristics such as

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

benchmark yield curves, option-adjusted spreads, credit spreads, estimated default rates, coupon rates, anticipated timing of principal repayments, underlying collateral, and other unique security features which are then used to calculate the fair values.

Short-term debt securities with a maturity date of 60 days or less are valued at amortized cost, which approximates fair value. Investments in open-end mutual funds are valued at their closing net asset value (NAV).

The policies and procedures approved by the Fund’s Board of Directors delegate authority to make fair value determinations to the investment advisor, subject to the oversight of the Board of Directors. The investment advisor has established a valuation committee (Valuation Committee) to administer, implement and oversee the fair valuation process according to the policies and procedures approved annually by the Board of Directors. Among other things, these procedures allow the Fund to utilize independent pricing services, quotations from securities and financial instrument dealers and other market sources to determine fair value.

Securities for which market prices are unavailable, or securities for which the investment advisor determines that the bid and/or ask price or a counterparty valuation does not reflect market value, will be valued at fair value, as determined in good faith by the Valuation Committee, pursuant to procedures approved by the Fund’s Board of Directors. Circumstances in which market prices may be unavailable include, but are not limited to, when trading in a security is suspended, the exchange on which the security is traded is subject to an unscheduled close or disruption or material events occur after the close of the exchange on which the security is principally traded. In these circumstances, the Fund determines fair value in a manner that fairly reflects the market value of the security on the valuation date based on consideration of any information or factors it deems appropriate. These may include, but are not limited to, recent transactions in comparable securities, information relating to the specific security and developments in the markets.

Foreign equity fair value pricing procedures utilized by the Fund may cause certain non-U.S. equity holdings to be fair valued on the basis of fair value factors provided by a pricing service to reflect any significant market movements between the time the Fund values such securities and the earlier closing of foreign markets.

The Fund’s use of fair value pricing may cause the NAV of Fund shares to differ from the NAV that would be calculated using market quotations. Fair value pricing involves subjective judgments and it is possible that the fair value determined for a security may be materially different than the value that could be realized upon the sale of that security.

Fair value is defined as the price that the Fund would expect to receive upon the sale of an investment or expect to pay to transfer a liability in an orderly transaction with an independent buyer in the principal market or, in the absence of a principal market, the most advantageous market for the investment or liability. The hierarchy of inputs that are used in determining the fair value of the Fund’s investments is summarized below.

•

Level 1—quoted prices in active markets for identical investments

•

Level 2—other significant observable inputs (including quoted prices for similar investments, interest rates, credit risk, etc.)

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

•

Level 3—significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing investments may or may not be an indication of the risk associated with those investments.

For movements between the levels within the fair value hierarchy, the Fund has adopted a policy of recognizing the transfer at the end of the period in which the underlying event causing the movement occurred. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. There were no transfers between Level 1 and Level 2 investments as of May 31, 2018.

The following is a summary of the inputs used as of May 31, 2018 in valuing the Fund’s investments carried at value:


	Total		Quoted Prices in Active Markets for Identical Investments (Level 1)		Other Significant Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Master Limited Partnerships and Related Companies	$	363,242,849	$	363,242,849	$	—	$	—
Preferred Securities—
$25 Par Value:
Utilities		3,953,391		3,478,056		475,335		—
Other Industries		11,400,408		11,400,408		—		—
Preferred Securities—
Capital Securities		14,763,042		—		14,763,042		—
Short-Term Investments		5,546,399		—		5,546,399		—

Total Investments in Securities^a	$	398,906,089	$	378,121,313	$	20,784,776	$	—

^a	Portfolio holdings are disclosed individually on the Schedule of Investments.

Security Transactions and Investment Income: Security transactions are recorded on trade date. Realized gains and losses on investments sold are recorded on the basis of identified cost. Interest income is recorded on the accrual basis. Interest income, which includes the amortization of premiums and accretion of discounts, is recorded on the accrual basis. Dividend income is recorded on the ex-dividend date, except for certain dividends on foreign securities, which are recorded as soon as the Fund is informed after the ex-dividend date. Distributions from MLPs are recorded as income and return of capital based on information reported by the MLPs and management’s estimates of such amounts based on historical information. These estimates are adjusted when the actual source of distributions is disclosed by the MLPs and actual amounts may differ from the estimated amounts. For the six months ended May 31, 2018, the Fund has estimated approximately 95.3% of distributions from MLPs as return of capital.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

The Fund received payment-in-kind stock dividends in the form of additional units from its investment in Enbridge Energy Management, LLC. The additional units are not reflected in investment income during the period received but are recorded as an adjustment to the cost of the security. For the six months ended May 31, 2018, the Fund received the following payment-in-kind stock dividends:


Enbridge Energy Management, LLC		$	216,661

Master Limited Partnerships: Entities commonly referred to as MLPs are generally organized under state law as limited partnerships or limited liability companies. The Fund invests in MLPs receiving partnership taxation treatment under the Internal Revenue Code of 1986, as amended (the Code), and whose interest or “units” are traded on securities exchanges like shares of corporate stock. To be treated as a partnership for U.S. federal income tax purposes, an MLP whose units are traded on a securities exchange must receive at least 90% of its income from qualifying sources such as interest, dividends, real property rents, gains on dispositions of real property, income and gains from mineral or natural resources activities, income and gains from the transportation or storage of certain fuels, and, in certain circumstances, income and gains from commodities or futures, forwards and options on commodities. Mineral or natural resources activities include exploration, development, production, processing, mining, refining, marketing and transportation (including pipelines) of oil and gas, minerals, geothermal energy, fertilizer, timber or industrial source carbon dioxide. An MLP consists of a general partner and limited partners (or in the case of MLPs organized as limited liability companies, a managing member and members). The general partner or managing member typically controls the operations and management of the MLP and has an ownership stake in the partnership or limited liability company. The limited partners or members, through their ownership of limited partner or member interests, provide capital to the entity, are intended to have no role in the operation and management of the entity and receive cash distributions. The Fund’s investments in MLPs consist only of limited partner or member interests ownership. The MLPs themselves generally do not pay U.S. federal income taxes and unlike investors in corporate securities, direct MLP investors are generally not subject to double taxation (i.e., corporate level tax and tax on corporate dividends). Currently, most MLPs operate in the energy and/or natural resources sector.

Foreign Currency Translation: The books and records of the Fund are maintained in U.S. dollars. Investment securities and other assets and liabilities denominated in foreign currencies are translated into U.S. dollars based upon prevailing exchange rates on the date of valuation. Purchases and sales of investment securities and income and expense items denominated in foreign currencies are translated into U.S. dollars based upon prevailing exchange rates on the respective dates of such transactions. The Fund does not isolate that portion of the results of operations resulting from fluctuations in foreign exchange rates on investments from the fluctuations arising from changes in market prices of securities held. Such fluctuations are included with the net realized and unrealized gain or loss on investments.

Net realized foreign exchange gains or losses arise from sales of foreign currencies, including gains and losses on forward foreign currency exchange contracts, currency gains or losses realized between the trade and settlement dates on securities transactions, and the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund’s books and the U.S. dollar equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

and losses arise from changes in the values of assets and liabilities, other than investments in securities, on the date of valuation, resulting from changes in exchange rates. Pursuant to U.S. federal income tax regulations, certain foreign currency gains/losses included in realized and unrealized gain/loss are included in or are a reduction of ordinary income for federal income tax purposes.

Dividends and Distributions to Shareholders: The Fund makes regular monthly distributions pursuant to the Policy. Dividends from net investment income, if any, are declared quarterly and paid monthly. Dividends and distributions to shareholders are recorded on the ex-dividend date and are automatically reinvested in full and fractional shares of the Fund in accordance with the Fund’s Reinvestment Plan, unless the shareholder has elected to have them paid in cash.

Distributions paid by the Fund are subject to recharacterization for tax purposes. Based upon the results of operations for the six months ended May 31, 2018, the investment advisor considers it likely that a significant portion of the distributions will be characterized as distributions from return of capital upon the final determination of the Fund’s taxable income after November 30, 2018, the Fund’s fiscal year end.

Income Taxes: The Fund, which is treated as a C corporation for U.S. Federal income tax purposes, is obligated to pay federal and state income tax on its taxable income. The Fund invests its assets primarily in MLPs, which generally are treated as partnerships for federal income tax purposes. As a limited partner in the MLPs, the Fund reports its allocable share of the MLPs taxable income in computing its own taxable income. Deferred income taxes reflect (i) taxes on unrealized gains (losses), which are attributable to the temporary difference between fair market value and tax basis, (ii) the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes and (iii) the net tax benefit of accumulated net operating and capital losses. To the extent the Fund has a deferred tax asset, consideration is given as to whether or not a valuation allowance, which would offset some or all of the deferred tax asset, is required. A valuation allowance is required if based on the evaluation criterion provided by ASC 740, Income Taxes, it is more likely than not that some portion, or all, of the deferred tax asset will not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, the duration of statutory carryforward periods and the associated risk that operating and capital loss carryforwards may expire unused. From time to time, as new information becomes available, the Fund modifies its estimates or assumptions regarding the deferred tax asset or liability.

The Tax Cuts and Jobs Act (Tax Reform Bill) was signed into law on December 22, 2017. The Tax Reform Bill includes changes to the corporate income tax rate and alternative minimum tax (AMT) and modifications to the net operating loss (NOL) deduction. Prior to enactment, the highest marginal federal income tax rate was 35%. The Tax Reform Bill reduced the corporate income tax rate to 21%. The Fund’s valuation allowance was correspondingly reduced to reflect the new federal income tax rate and as a result, the change in the rate had no impact on the Fund’s NAV. For tax years beginning after December 31, 2017 the Tax Reform Bill repealed the corporate AMT. The Tax Reform Bill eliminated the NOL carryback ability and replaced the 20 year carryforward period with an indefinite carryforward period for any NOLs arising in tax years ending after December 31, 2017. The Tax Reform Bill also established a limitation for any NOLs generated in tax years beginning after December 31, 2017 to the lesser of the aggregate of available NOLs or 80% of taxable income before any NOL utilization. For the Fund, the NOL limitation will be applied to NOLs that arise after its fiscal year-end of November 30, 2018.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

For all open tax years and for all major jurisdictions, management of the Fund has analyzed and concluded that there are no significant uncertain tax positions that would require recognition in the financial statements. Furthermore, management of the Fund is also not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will significantly change in the next twelve months. The Fund’s tax positions for the tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and by state departments of revenue.

Note 2. Investment Advisory Fees, Administration Fees and Other Transactions with Affiliates

Investment Advisory Fees: Cohen & Steers Capital Management, Inc. serves as the Fund’s investment advisor pursuant to an investment advisory agreement (the investment advisory agreement). Under the terms of the investment advisory agreement, the investment advisor provides the Fund with day-to-day investment decisions and generally manages the Fund’s investments in accordance with the stated policies of the Fund, subject to the supervision of the Board of Directors.

For the services provided to the Fund, the investment advisor receives a fee, accrued daily and paid monthly, at the annual rate of 1.00% of the average daily managed assets of the Fund. Managed assets are equal to the net assets of the common shares plus the amount of any borrowings, used for leverage, outstanding.

Under subadvisory agreements between the investment advisor and each of Cohen & Steers Asia Limited and Cohen & Steers UK Limited (collectively, the subadvisors), affiliates of the investment advisor, the subadvisors are responsible for managing the Fund’s investments in certain non-U.S. holdings. For their services provided under the subadvisory agreements, the investment advisor (not the Fund) pays the subadvisors. The investment advisor allocates 50% of the investment advisory fee received from the Fund among itself and each subadvisor based on the portion of the Fund’s average daily managed assets managed by the investment advisor and each subadvisor.

Administration Fees: The Fund has entered into an administration agreement with the investment advisor under which the investment advisor performs certain administrative functions for the Fund and receives a fee, accrued daily and paid monthly, at the annual rate of 0.08% of the Fund’s average daily managed assets. For the six months ended May 31, 2018, the Fund incurred $154,292 in fees under this administration agreement. Additionally, the Fund pays State Street Bank and Trust Company as co-administrator under a fund accounting and administration agreement.

Directors’ and Officers’ Fees: Certain directors and officers of the Fund are also directors, officers and/or employees of the investment advisor. The Fund does not pay compensation to directors and officers affiliated with the investment advisor except for the Chief Compliance Officer, who received compensation from the investment advisor, which was reimbursed by the Fund, in the amount of $2,240 for the six months ended May 31, 2018.

Note 3. Purchases and Sales of Securities

Purchases and sales of securities, excluding short-term investments, for the six months ended May 31, 2018, totaled $114,396,083 and $117,451,635, respectively.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

Note 4. Income Tax Information

As of May 31, 2018, the federal tax cost and net unrealized appreciation (depreciation) in value of investments held were as follows:


Cost of investments in securities for federal income tax purposes	$	319,511,306

Gross unrealized appreciation on investments	$	89,499,998
Gross unrealized depreciation on investments		(10,105,215	)

Net unrealized appreciation (depreciation) on investments	$	79,394,783

The Fund’s income tax expense/(benefit) for the six months ended May 31, 2018 consists of the following:


	Deferred
Federal	$	26,214,824
State		623,232
Valuation Allowance		(26,838,056	)

Total tax expense/(benefit)	$	—

Deferred income taxes reflect the net tax effect of temporary differences between the carrying amount of assets and liabilities for financial reporting and tax purposes. Components of the Fund’s deferred tax assets and liabilities as of May 31, 2018, are as follows:


Deferred tax assets:
Net operating loss	$	22,233,001
Capital loss carryforward		18,770,002
Other		206,250
Valuation allowance		(23,032,732	)

Total deferred tax asset		18,176,521

Deferred tax liabilities:
Unrealized gain on investments		(18,176,521	)

Total net deferred tax asset/(liability)	$	—

Other deferred tax assets represents net operating and capital losses for certain MLP securities held in the portfolio at May 31, 2018 which will be available upon disposition of these securities.

The Fund reviews the recoverability of its deferred tax assets based upon the weight of the available evidence. When assessing, the Fund’s management considers available carrybacks, reversing temporary taxable differences, and tax planning, if any. As a result of management’s analysis of the recoverability of the Fund’s deferred tax assets, as of May 31, 2018, the Fund recorded a valuation allowance of $23,032,732. The Fund will continue to assess the need for a valuation allowance

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

in the future. Significant increases in the fair value of its portfolio of investments may change the Fund’s assessment of the recoverability of these assets and may result in the removal of the valuation allowance against all or a portion of the Fund’s gross deferred tax assets.

Total income tax expense/(benefit) (current and deferred) has been computed by applying the federal statutory income tax rate of 21% plus a blended state income tax rate of 1.9% to the Fund’s net investment income and realized and unrealized gains (losses) on investments before taxes for the six months ended May 31, 2018, as follows:


	Deferred
Application of statutory income tax benefit	$	7,300,826
State income taxes, net of federal benefit		663,576
Tax benefit on permanent items		(90,040	)
Change in estimated federal and state deferred tax rate*		18,963,694
Change in valuation allowance		(26,838,056	)

Total income tax benefit	$	—

*	The tax rate change listed in the table above is reflective of the change in deferred tax assets and liabilities due to the federal corporate tax rate change enacted by the Tax Reform Bill. For tax years beginning after December 31, 2017, the federal corporate income tax rate is 21%.

The Fund’s tax expense or benefit, if any, is included in the Statement of Operations based on the component of income or gains (losses) to which such expense or benefit relates.

Net operating loss carryforwards of $97,888,014 are available to offset future taxable income. Net operating losses generated prior to December 31, 2017, can be carried forward for 20 years and, accordingly, would begin to expire as of November 30, 2033. For tax years after December 31, 2017, net operating losses generated by the Fund are eligible to be carried forward indefinitely. The Fund has net operating loss carryforwards for federal income tax purposes as follows:


Year Ended	Amount		Expiration
November 30, 2013	$	1,343,285	November 30, 2033
November 30, 2014		19,633,915	November 30, 2034
November 30, 2015		36,870,973	November 30, 2035
November 30, 2016		9,144,606	November 30, 2036
November 30, 2017		17,275,929	November 30, 2037
November 30, 2018		13,619,306	Indefinite

Net capital loss carryforwards of $81,933,945 are available to offset future capital gains. Capital loss carryforwards can be carried forward for 5 years and, accordingly, would begin to expire as of November 30, 2020. The Fund has net capital loss carryforwards for federal income tax purposes as follows:


Year Ended	Amount		Expiration
November 30, 2015	$	2,588,344	November 30, 2020
November 30, 2016		79,345,601	November 30, 2021

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

During the six months ended May 31, 2018, the Fund utilized net capital loss carryforwards of $9,327,213.

Note 5. Capital Stock

The Fund is authorized to issue 250 million shares of common stock at a par value of $0.001 per share.

During the six months ended May 31, 2018 and the year ended November 30, 2017, the Fund did not issue any shares of common stock for the reinvestment of dividends.

On December 5, 2017, the Board of Directors approved the continuation of the delegation of its authority to management to effect repurchases, pursuant to management’s discretion and subject to market conditions and investment considerations, of up to 10% of the Fund’s common shares outstanding (Share Repurchase Program) as of January 1, 2018 through December 31, 2018.

During the six months ended May 31, 2018 and the year ended November 30, 2017, the Fund did not effect any repurchases.

Note 6. Borrowings

The Fund has entered into an amended and restated credit agreement (the credit agreement) with BNP Paribas Prime Brokerage International, Ltd. (BNPP) in which the Fund pays a monthly financing charge based on fixed rates. The commitment amount of the credit agreement is $105,000,000. The Fund also pays a fee of 0.45% per annum on any unused portion of the credit agreement. Under the amended agreement, the Fund may draw on the credit line up to the maximum $225,000,000 commitment amount on one day’s notice to, and with approval by, BNPP. The Fund also pays a monthly financing charge based on fixed rates.

BNPP may not change certain terms of the credit agreement except upon 360 days’ notice. Also, if the Fund violates certain other conditions, the credit agreement may be terminated. The Fund is required to pledge portfolio securities as collateral in an amount up to two times the loan balance outstanding (or more depending on the terms of the credit agreement) and has granted a security interest in the securities pledged to, and in favor of, BNPP as security for the loan balance outstanding.

If the Fund fails to meet certain requirements, or maintain other financial covenants required under the credit agreement, the Fund may be required to repay immediately, in part or in full, the loan balance outstanding under the credit agreement, necessitating the sale of portfolio securities at potentially inopportune times. The Fund may, upon prior written notice to BNPP, prepay all or a portion of the fixed rate portions of the credit facility. The Fund may have to pay a breakage fee with respect to a prepayment of all or a portion of the fixed rate financing under the credit facility.

As of May 31, 2018, the Fund had outstanding borrowings of $105,000,000. During the six months ended May 31, 2018, the Fund borrowed an average daily balance of $105,000,000 at a weighted average borrowing cost of 2.0%.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

Note 7. Other Risks

MLP Investment Risk: An investment in MLPs involves risks that differ from a similar investment in equity securities, such as common stock, of a corporation. Holders of equity securities issued by MLPs have the rights typically afforded to limited partners in a limited partnership. As compared to common shareholders of a corporation, holders of such equity securities have more limited control and limited rights to vote on matters affecting the partnership. MLPs may have additional expenses, as some MLPs pay incentive distribution fees to their general partners. Additionally, conflicts of interest may exist among common unit holders, subordinated unit holders and the general partner or managing member of an MLP; for example a conflict may arise as a result of incentive distribution payments.

MLPs may have comparatively smaller capitalizations relative to issuers whose securities are included in major benchmark indexes which presents unique investment risks. MLPs and other small capitalization companies often have limited product lines, markets, distribution channels or financial resources, and the management of such companies may be dependent upon one or a few key people. The market movements of equity securities issued by MLPs and other small capitalization companies may be more abrupt or erratic than the market movements of equity securities of larger, more established companies or the stock market in general. MLPs and other smaller capitalization companies have sometimes gone through extended periods when they did not perform as well as larger companies. In addition, equity securities of smaller capitalization companies generally are less liquid than those of larger companies. This means that the Fund could have greater difficulty selling such securities at the time and price that the Fund would like.

MLPs are subject to significant regulation and may be adversely affected by changes in the regulatory environment. The value of MLPs depends largely on the MLPs being treated as partnerships for U.S. federal income tax purposes. If MLPs were subject to U.S. federal income taxation as a corporation, the MLPs would be required to pay U.S. federal income tax on their taxable income which would have the effect of reducing the amount of cash available for distribution to the MLP unitholders. This would also cause any such distributions received by the Fund to be taxed as dividend income to the extent of the MLP’s current or accumulated earnings and profits. As a result, after-tax returns could be reduced, which could cause a decline in the value of MLPs.

Energy Sector Risk: The Fund is subject to more risks related to the energy sector than if the Fund were more broadly diversified over numerous sectors of the economy. A downturn in the energy sector of the economy could have a larger impact on the Fund than on an investment company that does not concentrate in the sector. In addition, there are several specific risks associated with investments in the energy sector, including the following: Commodity Price Risk, Depletion Risk, Supply and Demand Risk, Regulatory Risk, Acquisition Risk, Weather Risks, Exploration Risk, Catastrophic Event Risk, Interest Rate Transaction Risk, Affiliated Party Risk and Limited Partner Risk and Risks of Subordinated MLP Units. MLPs which invest in the energy industry may be highly volatile due to significant fluctuation in the prices of energy commodities as well as political and regulatory developments.

Market Volatility Risk: Under normal market conditions, the Fund will invest at least 80% of its managed assets in energy-related MLPs and companies that are involved in the exploration, production, gathering, transportation, processing, storage, refining, distribution or marketing of natural gas, natural gas liquids (including propane), crude oil, refined petroleum products, coal or other energy

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

sources (Related Companies). The Fund’s strategy of focusing its investments in MLPs and Related Companies means that the performance of the Fund will be closely tied to the performance of the energy infrastructure industry. Market volatility in the energy markets may significantly affect the performance of the energy infrastructure industry, as well as the performance of the MLPs and Related companies in which the Fund invests. In addition, volatility in the energy markets may affect the ability of MLPs and Related Companies to finance capital expenditures and new acquisitions and to maintain or increase distributions to investors due to a lack of access to capital.

Interest Rate Risk to MLPs and Related Companies: Rising interest rates could increase the costs of capital thereby increasing operating costs and reducing the ability of MLPs and other entities operating in the energy sector to carry out acquisitions or expansions in a cost-effective manner. As a result, rising interest rates could negatively affect the financial performance of MLPs and other entities operating in the energy sector. Rising interest rates may also impact the price of the securities of MLPs and other entities operating in the energy sector as the yields on alternative investments increase. These risks may be greater in the current market environment because certain interest rates are at historically low levels.

Counterparty Risk: Weakening energy market fundamentals may increase counterparty risk and impact MLP profitability. Specifically, energy companies suffering financial distress may be able to abrogate contracts with MLPs, decreasing or eliminating sources of revenue.

Liquidity Risk: Although the equity securities, including those of the MLPs, in which the Fund invests generally trade on major stock exchanges, certain securities may trade less frequently, particularly those of MLPs and other issuers with smaller capitalizations. Securities with limited trading volumes may display volatile or erratic price movements. Also, the Fund may be one of the largest investors in certain sub-sectors of the energy or natural resource sectors. Thus, it may be more difficult for the Fund to buy and sell significant amounts of such securities without an unfavorable impact on prevailing market prices. Larger purchases or sales of these securities by the Fund in a short period of time may cause abnormal movements in the market price of these securities. As a result, these securities may be difficult to dispose of at a fair price at the times when the investment advisor believes it is desirable to do so.

Leverage Risk: The use of leverage is a speculative technique and there are special risks and costs associated with leverage. The net asset value of the Fund’s shares may be reduced by the issuance and ongoing costs of leverage. So long as the Fund is able to invest in securities that produce an investment yield that is greater than the total cost of leverage, the leverage strategy will produce higher current net investment income for the shareholders. On the other hand, to the extent that the total cost of leverage exceeds the incremental income gained from employing such leverage, shareholders would realize lower net investment income. In addition to the impact on net income, the use of leverage will have an effect of magnifying capital appreciation or depreciation for shareholders. Specifically, in an up market, leverage will typically generate greater capital appreciation than if the Fund were not employing leverage. Conversely, in down markets, the use of leverage will generally result in greater capital depreciation than if the Fund had been unlevered. To the extent that the Fund is required or elects to reduce its leverage, the Fund may need to liquidate investments, including under adverse economic conditions which may result in capital losses potentially reducing returns to shareholders.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

There can be no assurance that a leveraging strategy will be successful during any period in which it is employed.

Foreign (Non-U.S.) Securities Risk: The Fund directly purchases securities of foreign issuers. Risks of investing in foreign securities, which can be expected to be greater for investments in emerging markets, include currency risks, future political and economic developments and possible imposition of foreign withholding taxes on income or proceeds payable on the securities. In addition, there may be less publicly available information about a foreign issuer than about a domestic issuer, and foreign issuers may not be subject to the same accounting, auditing and financial recordkeeping standards and requirements as domestic issuers. Moreover, securities of many foreign issuers and their markets may be less liquid and their prices more volatile than securities of comparable U.S. issuers.

Non-Diversification Risk: As a “non-diversified” investment company, the Fund can invest in fewer individual companies than a diversified investment company. As a result, the Fund is more susceptible to any single political, regulatory or economic occurrence and to the financial condition of individual issuers in which it invests. The Fund’s relative lack of diversity may subject investors to greater risk of loss than a fund that has a diversified portfolio.

Preferred Securities Risk: Preferred securities are subject to credit risk, which is the risk that a security will decline in price, or the issuer of the security will fail to make dividend, interest or principal payments when due, because the issuer experiences a decline in its financial status. Preferred securities are also subject to interest rate risk and may decline in value because of changes in market interest rates. The Fund may be subject to a greater risk of rising interest rates than would normally be the case in an environment of low interest rates and the effect of potential government fiscal policy initiatives and resulting market reaction to those initiatives. In addition, an issuer may be permitted to defer or omit distributions. Preferred securities are also generally subordinated to bonds and other debt instruments in a company’s capital structure. During periods of declining interest rates, an issuer may be able to exercise an option to redeem (call) its issue at par earlier than scheduled, and the Fund may be forced to reinvest in lower yielding securities. Certain preferred securities may be substantially less liquid than many other securities, such as common stocks. Generally, preferred security holders have no voting rights with respect to the issuing company unless certain events occur. Certain preferred securities may give the issuers special redemption rights allowing the securities to be redeemed prior to a specified date if certain events occur, such as changes to tax or securities laws.

Geopolitical Risk: Occurrence of global events similar to those in recent years, such as war, terrorist attacks, natural or environmental disasters, country instability, infectious disease epidemics, market instability, debt crises and downgrades, embargoes, tariffs, sanctions and other trade barriers and other governmental trade or market control programs, the potential exit of a country from its respective union and related geopolitical events, may result in market volatility and may have long-lasting impacts on both the U.S. and global financial markets. Additionally, those events, as well as other changes in foreign and domestic political and economic conditions, could adversely affect individual issuers or related groups of issuers, securities markets, interest rates, secondary trading, credit ratings, inflation, investor sentiment and other factors affecting the value of the Fund’s investments. The decision of the United Kingdom (UK) to exit from the European Union following the June 2016 vote on the matter (referred to as Brexit) may cause uncertainty and thus adversely impact

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

financial results of the Fund and the global financial markets. Growing tensions, including trade disputes, between the United States and other nations, or among foreign powers, and possible diplomatic, trade or other sanctions could adversely impact the global economy, financial markets and the Fund. The strengthening or weakening of the U.S. dollar relative to other currencies may, among other things, adversely affect the Fund’s investments denominated in non-U.S. dollar currencies. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have, and the duration of those effects.

Regulatory Risk: The U.S. government has proposed and adopted multiple regulations that could have a long-lasting impact on the Fund and on the mutual fund industry in general. The U.S. Securities and Exchange Commission’s (SEC) final rules and amendments to modernize reporting and disclosure along with other potential upcoming regulations, could, among other things, restrict and/or increase the cost of the Fund’s ability to engage in transactions, impact flows into the Fund and/or increase overall expenses of the Fund. In addition, the SEC, Congress, various exchanges and regulatory and self-regulatory authorities, both domestic and foreign, have undertaken reviews of the use of derivatives by registered investment companies, which could affect the nature and extent of derivatives used by the Fund. While the full extent of these regulations is still unclear, these regulations and actions may adversely affect the instruments in which the Fund invests and its ability to execute its investment strategy. Similarly, regulatory developments in other countries may have an unpredictable and adverse impact on the Fund.

LIBOR Risk: Many financial instruments use or may use a floating rate based on the London Interbank Offered Rate, or “LIBOR,” which is the offered rate for short-term Eurodollar deposits between major international banks. On July 27, 2017, the head of the United Kingdom’s (UK) Financial Conduct Authority announced a desire to phase out the use of LIBOR by the end of 2021. There remains uncertainty regarding the future utilization of LIBOR and the nature of any replacement rate. As such, the potential effect of a transition away from LIBOR on the Fund or the financial instruments in which the Fund invests cannot yet be determined.

Note 8. Other

In the normal course of business, the Fund enters into contracts that provide general indemnifications. The Fund’s maximum exposure under these arrangements is dependent on claims that may be made against the Fund in the future and, therefore, cannot be estimated; however, based on experience, the risk of material loss from such claims is considered remote.

Note 9. New Accounting Guidance

In August 2016, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) No. 2016-15, “Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments, a consensus of the FASB’s Emerging Issues Task Force” (ASU 2016-15). ASU 2016-15 is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The issues addressed in ASU 2016-15 are: debt prepayment

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

NOTES TO FINANCIAL STATEMENTS (Unaudited)—(Continued)

or debt extinguishment costs, settlement of zero-coupon debt instruments, contingent consideration payments made after a business combination, proceeds from the settlement of insurance claims, proceeds from the settlement of corporate-owned life insurance policies, including bank-owned life insurance policies, distributions received from equity method investments, beneficial interests in securitization transactions; and, separately identifiable cash flows and application of the predominance principle. ASU 2016-15 is effective for interim and annual reporting periods beginning after December 15, 2017. The Fund does not expect the adoption of the new standard to have a material effect on its financial statements and related disclosures.

In November 2016, the FASB issued a new ASU No. 2016-18, “Statement of Cash Flows (Topic 230), Restricted Cash, a consensus of the FASB’s Emerging Issues Task Force” (ASU 2016-18). ASU 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The amendments in ASU 2016-18 do not provide a definition of restricted cash or restricted cash equivalents. ASU 2016-18 is effective for interim and annual reporting periods beginning after December 15, 2017. The Fund does not expect the adoption of the new standard to have a material effect on its financial statements and related disclosures.

In March 2017, the FASB issued ASU No. 2017-08, Receivables—Nonrefundable Fees and Other Costs (Subtopic 310-20): Premium Amortization on Purchased Callable Debt Securities. The amendments in the ASU shorten the amortization period for certain callable debt securities, held at a premium, to be amortized to the earliest call date. The ASU is effective for fiscal years and interim periods within those fiscal years beginning after December 15, 2018. The adoption will have no effect on the Fund’s net assets or results of operations.

Note 10. Subsequent Events

Management has evaluated events and transactions occurring after May 31, 2018 through the date that the financial statements were issued, and has determined that no additional disclosure in the financial statements is required.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

PROXY RESULTS (Unaudited)

Cohen & Steers MLP Income and Energy Opportunity Fund, Inc. shareholders voted on the following proposals at the annual meeting held on April 26, 2018. The description of each proposal and number of shares voted are as follows:


Common Shares	Shares Voted for		Authority Withheld
To elect Directors:
George Grossman		23,101,446.239		1,708,154.002
Jane F. Magpiong		23,085,105.789		1,724,494.452
Robert H. Steers		23,089,577.428		1,720,022.813
C. Edward Ward, Jr.		23,089,051.110		1,720,549.131

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

AVERAGE ANNUAL TOTAL RETURNS

(Periods ended May 31, 2018) (Unaudited)

Based on Net Asset Value

Based on Market Value

One Year

5 Years

Since Inception
(3/26/13)

One Year

5 Years

Since Inception
(3/26/13)

2.25%

–2.43%

–2.46%

5.07%

–4.63%

–4.41%

The performance data quoted represent past performance. Past performance is no guarantee of future results. The investment return will vary and the principal value of an investment will fluctuate and shares, if sold, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. Performance results reflect the effect of leverage from utilization of borrowings under a credit agreement. Current total returns of the Fund can be obtained by visiting our website at cohenandsteers.com. The Fund’s returns assume the reinvestment of all dividends and distributions at prices obtained under the Fund’s dividend reinvestment plan.

REINVESTMENT PLAN

We urge shareholders who want to take advantage of this plan and whose shares are held in ‘Street Name’ to consult your broker as soon as possible to determine if you must change registration into your own name to participate.

OTHER INFORMATION

A description of the policies and procedures that the Fund uses to determine how to vote proxies relating to portfolio securities is available (i) without charge, upon request, by calling 800-330-7348, (ii) on our website at cohenandsteers.com or (iii) on the Securities and Exchange Commission’s (the SEC) website at http://www.sec.gov. In addition, the Fund’s proxy voting record for the most recent 12-month period ended June 30 is available by August 31 of each year (i) without charge, upon request, by calling 800-330-7348 or (ii) on the SEC’s website at http://www.sec.gov.

The Fund files its complete schedule of portfolio holdings with the SEC for the first and third quarters of each fiscal year on Form N-Q. The Fund’s Forms N-Q are available (i) without charge, upon request by calling 800-330-7348, or (ii) on the SEC’s website at http://www.sec.gov. In addition, the Forms N-Q may be reviewed and copied at the SEC’s Public Reference Room in Washington, DC. Information on the operation of the Public Reference Room may be obtained by calling 800-SEC-0330.

Please note that distributions paid by the Fund to shareholders are subject to recharacterization for tax purposes and are taxable up to the amount of the Fund’s current or accumulated earnings and profits. Distributions in excess of the Fund’s current earnings and profits are a return of capital distributed from the Fund’s assets. The final tax treatment of all distributions is reported to shareholders on their 1099-DIV forms, which are mailed after the close of each calendar year. Distributions of capital decrease the Fund’s total assets and, therefore, could have the effect of increasing the Fund’s expense ratio. In addition, in order to make these distributions, the Fund may have to sell portfolio securities at a less than opportune time.

Notice is hereby given in accordance with Rule 23c-1 under the 1940 Act that the Fund may purchase, from time to time, shares of its common stock in the open market.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

Change in Board of Directors

On December 5, 2017, the Board of Directors voted to decrease the number of directors on the Fund’s Board of Directors from thirteen to ten, effective January 1, 2018. Directors Bonnie Cohen and Richard E. Kroon retired from the Board of Directors on December 31, 2017 pursuant to the Fund’s mandatory retirement policy. Director Richard J. Norman resigned from the Board of Directors effective December 31, 2017.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

Cohen & Steers Privacy Policy



Facts		What Does Cohen & Steers Do With Your Personal Information?
Why?		Financial companies choose how they share your personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
What?		The types of personal information we collect and share depend on the product or service you have with us. This information can include: • Social Security number and account balances • Transaction history and account transactions • Purchase history and wire transfer instructions
How?		All financial companies need to share customers’ personal information to run their everyday business. In the section below, we list the reasons financial companies can share their customers’ personal information; the reasons Cohen & Steers chooses to share; and whether you can limit this sharing.


Reasons we can share your personal information	Does Cohen & Steers share?	Can you limit this sharing?

For our everyday business purposes— such as to process your transactions, maintain your account(s), respond to court orders and legal investigations, or reports to credit bureaus	Yes	No

For our marketing purposes— to offer our products and services to you	Yes	No

For joint marketing with other financial companies—	No	We don’t share

For our affiliates’ everyday business purposes— information about your transactions and experiences	No	We don’t share

For our affiliates’ everyday business purposes— information about your creditworthiness	No	We don’t share

For our affiliates to market to you—	No	We don’t share

For non-affiliates to market to you—	No	We don’t share



Questions? Call 800-330-7348

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

Cohen & Steers Privacy Policy—(Continued)



Who we are
Who is providing this notice?		Cohen & Steers Capital Management, Inc., Cohen & Steers Asia Limited, Cohen & Steers Japan, LLC, Cohen & Steers UK Limited, Cohen & Steers Securities, LLC, Cohen & Steers Private Funds and Cohen & Steers Open- and Closed-End Funds (collectively, Cohen & Steers).

What we do
How does Cohen & Steers protect my personal information?		To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We restrict access to your information to those employees who need it to perform their jobs, and also require companies that provide services on our behalf to protect your information.
How does Cohen & Steers collect my personal information?		We collect your personal information, for example, when you: • Open an account or buy securities from us • Provide account information or give us your contact information • Make deposits or withdrawals from your account We also collect your personal information from other companies.
Why can’t I limit all sharing?		Federal law gives you the right to limit only: • sharing for affiliates’ everyday business purposes—information about your creditworthiness • affiliates from using your information to market to you • sharing for non-affiliates to market to you State law and individual companies may give you additional rights to limit sharing.

Definitions
Affiliates		Companies related by common ownership or control. They can be financial and nonfinancial companies. • Cohen & Steers does not share with affiliates.
Non-affiliates		Companies not related by common ownership or control. They can be financial and nonfinancial companies. • Cohen & Steers does not share with non-affiliates.
Joint marketing		A formal agreement between non-affiliated financial companies that together market financial products or services to you. • Cohen & Steers does not jointly market.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

Cohen & Steers Investment Solutions

COHEN & STEERS REAL ASSETS FUND

•

Designed for investors seeking total return and the maximization of real returns during inflationary environments by investing primarily in real assets

•

Symbols: RAPAX, RAPCX, RAPIX, RAPRX, RAPZX

COHEN & STEERS GLOBAL REALTY SHARES

•

Designed for investors seeking total return, investing primarily in global real estate equity securities

•

Symbols: CSFAX, CSFCX, CSSPX, GRSRX, CSFZX

COHEN & STEERS REALTY SHARES

•

Designed for investors seeking total return, investing primarily in U.S. real estate securities

•

Symbol: CSRSX

COHEN & STEERS REAL ESTATE SECURITIES FUND

•

Designed for investors seeking total return, investing primarily in U.S. real estate securities

•

Symbols: CSEIX, CSCIX, CREFX, CSDIX, CIRRX, CSZIX

COHEN & STEERS INSTITUTIONAL REALTY SHARES

•

Designed for institutional investors seeking total return, investing primarily in U.S. real estate securities

•

Symbol: CSRIX

COHEN & STEERS INTERNATIONAL REALTY FUND

•

Designed for investors seeking total return, investing primarily in international (non-U.S.) real estate securities

•

Symbols: IRFAX, IRFCX, IRFIX, IRFRX, IRFZX

COHEN & STEERS GLOBAL INFRASTRUCTURE FUND

•

Designed for investors seeking total return, investing primarily in global infrastructure securities

•

Symbols: CSUAX, CSUCX, CSUIX, CSURX, CSUZX

COHEN & STEERS MLP & ENERGY OPPORTUNITY FUND

•

Designed for investors seeking total return, investing primarily in midstream energy master limited partnership (MLP) units and related stocks

•

Symbols: MLOAX, MLOCX, MLOIX, MLORX, MLOZX

COHEN & STEERS LOW DURATION PREFERRED AND INCOME FUND

•

Designed for investors seeking high current income and capital preservation by investing in low-duration preferred and other income securities issued by U.S. and non-U.S. companies

•

Symbols: LPXAX, LPXCX, LPXIX, LPXRX, LPXZX

COHEN & STEERS PREFERRED SECURITIES AND INCOME FUND

•

Designed for investors seeking total return (high current income and capital appreciation), investing primarily in preferred and debt securities issued by U.S. and non-U.S. companies

•

Symbols: CPXAX, CPXCX, CPXFX, CPXIX, CPRRX, CPXZX

COHEN & STEERS DIVIDEND VALUE FUND

•

Designed for investors seeking long-term growth of income and capital appreciation, investing primarily in dividend paying common stocks and preferred stocks

•

Symbols: DVFAX, DVFCX, DVFIX, DVFRX, DVFZX

Distributed by Cohen & Steers Securities, LLC.

COHEN & STEERS GLOBAL REALTY MAJORS ETF

•

Designed for investors who seek a relatively low-cost passive approach for investing in a portfolio of global real estate equity securities of companies in a specified index

•

Symbol: GRI

Distributed by ALPS Distributors, Inc.

ISHARES COHEN & STEERS REALTY MAJORS INDEX FUND

•

Designed for investors who seek a relatively low-cost passive approach for investing in a portfolio of U.S. real estate equity securities of companies in a specified index

•

Symbol: ICF

Distributed by SEI Investments Distribution Co.

Please consider the investment objectives, risks, charges and expenses of any Cohen & Steers U.S. registered open-end fund carefully before investing. A summary prospectus and prospectus containing this and other information can be obtained by calling 800-330-7348 or by visiting cohenandsteers.com. Please read the summary prospectus and prospectus carefully before investing.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.

OFFICERS AND DIRECTORS

Robert H. Steers

Director and Chairman

Joseph M. Harvey

Director and Vice President

Michael G. Clark

Director

George Grossman

Director

Dean A. Junkans

Director

Gerald J. Maginnis

Director

Jane F. Magpiong

Director

Daphne L. Richards

Director

Frank K. Ross

Director

C. Edward Ward Jr.

Director

Adam M. Derechin

President and Chief Executive Officer

Robert S. Becker

Vice President

Benjamin Morton

Vice President

Tyler S. Rosenlicht

Vice President

Francis C. Poli

Secretary and Chief Legal Officer

James Giallanza

Chief Financial Officer

Albert Laskaj

Treasurer

Lisa D. Phelan

Chief Compliance Officer

KEY INFORMATION

Investment Advisor

Cohen & Steers Capital Management, Inc.

280 Park Avenue

New York, NY 10017

(212) 832-3232

Co-administrator and Custodian

State Street Bank and Trust Company

One Lincoln Street

Boston, MA 02111

Transfer Agent

Computershare

480 Washington Boulevard

Jersey City, NJ 07310

(866) 227-0757

Legal Counsel

Ropes & Gray LLP

1211 Avenue of the Americas

New York, NY 10036

New York Stock Exchange Symbol: MIE

Website: cohenandsteers.com

This report is for shareholder information. This is not a prospectus intended for use in the purchase or sale of Fund shares. Performance data quoted represents past performance. Past performance is no guarantee of future results and your investment may be worth more or less at the time you sell your shares.

COHEN & STEERS

MLP INCOME AND ENERGY OPPORTUNITY FUND

280 PARK AVENUE

NEW YORK, NY 10017

eDelivery AVAILABLE

Stop traditional mail delivery;

receive your shareholder reports

and prospectus online.

Sign up at cohenandsteers.com

LOGO

Semiannual Report May 31, 2018

Cohen & Steers

MLP Income

and Energy

Opportunity

Fund

MIESAR

Item 2. Code of Ethics.

Not applicable.

Item 3. Audit Committee Financial Expert.

Not applicable.

Item 4. Principal Accountant Fees and Services.

Not applicable.

Item 5. Audit Committee of Listed Registrants.

Not applicable.

Item 6. Schedule of Investments.

Included in Item 1 above.

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not Applicable.

Item 8. Portfolio Managers of Closed-End Investment Companies.

(a)	Not Applicable.

(b)	The registrant has not had any change in the portfolio managers identified in response to paragraph (a)(1) of this item in the registrant’s most recent annual report on Form N-CSR.

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

None.

Item 10. Submission of Matters to a Vote of Security Holders.

None.

Item 11. Controls and Procedures.

(a)

The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission’s rules and forms, based upon such officers’ evaluation of these controls and procedures as of a date within 90 days of the filing date of this report.

(b)

There were no changes in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

(a)	The Fund did not engage in any securities lending activity during the Fund’s most recent fiscal year.

(b)	The Fund did not engage in any securities lending activity and did not engage a securities lending agent during the Fund’s most recent fiscal year.

Item 13. Exhibits.

(a)(1) Not Applicable.

(a)(2) Certifications of principal executive officer and principal financial officer as required by Rule 30a-2(a) under the Investment Company Act of 1940.

(a)(3) Not applicable.

(b) Certifications of chief executive officer and chief financial officer as required by Rule 30a-2(b) under the Investment Company Act of 1940.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

COHEN & STEERS MLP INCOME AND ENERGY OPPORTUNITY FUND, INC.



		By:		/s/ Adam M. Derechin
				Name: Adam M. Derechin
				Title: President and Chief Executive Officer

		Date: July 31, 2018

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



		By:		/s/ Adam M. Derechin
				Name: Adam M. Derechin
				Title: President and Chief Executive Officer (Principal Executive Officer)

		By:		/s/ James Giallanza
				Name: James Giallanza
				Title: Chief Financial Officer (Principal Financial Officer)

		Date: July 31, 2018