Welcome to our dedicated page for Kayne Anderson NextGen Energy & Infrastructure news (Ticker: KMF), a resource for investors and traders seeking the latest updates and insights on Kayne Anderson NextGen Energy & Infrastructure stock.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) is a non-diversified, closed-end management investment company with a focus on providing a high level of total return to its stockholders. This goal is achieved primarily through investments in Energy Companies and Infrastructure Companies that are significantly involved in or benefiting from the Energy Transition. The fund’s strategy is centered around investing at least 80% of its total assets in these sectors, aiming to generate consistent cash distributions to its common stockholders. KMF is managed by KA Fund Advisors, LLC, a subsidiary of Kayne Anderson Capital Advisors, L.P., a well-regarded investment management firm with a strong track record in the energy sector.
KMF’s recent activities include the quarterly cash distribution of $0.16 per share for the fiscal quarter ended August 31, 2023, payable on October 10, 2023. Moreover, it has announced the completion of stockholder approvals for a proposed merger with Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN). This merger, expected to close on November 13, 2023, will see KMF stockholders receive either newly issued common stock of KYN or cash, enhancing the combined entity’s capacity to capitalize on long-term growth in the energy infrastructure sector.
The fund is also committed to transparency and regulatory compliance, with a clear cautionary note on forward-looking statements that could be influenced by various risk factors including economic conditions, regulatory changes, and industry-specific risks. KMF’s financial health and strategic decisions are regularly disclosed in its filings with the SEC, ensuring that investors are well-informed.
For more detailed information, investment strategies, or to seek personalized advice, KMF encourages investors to consult with their investment, tax, or legal advisers.
As of March 31, 2022, Kayne Anderson NextGen Energy & Infrastructure reported net assets of $500 million and a net asset value per share of $10.59. The Fund's asset coverage ratio for senior securities is 526%, and for total leverage is 397%. Long-term investments total $659 million, with equity investments making up 99% of this amount. The top holdings include Targa Resources, Enterprise Products Partners, and The Williams Companies, representing significant portions of the Fund's investments.
Kayne Anderson NextGen Energy & Infrastructure announced a quarterly distribution of $0.16 per share, up $0.02 from the previous distribution, payable on April 19, 2022. This equates to an annualized distribution rate of 7.7%. Chairman Jim Baker emphasized the importance of distributions for investors, despite the stock trading at a 20.8% discount to NAV. The management remains optimistic about the sustainability of the distribution levels, which are based on net distributable income and portfolio performance.
Kayne Anderson NextGen Energy & Infrastructure reported as of February 28, 2022, net assets of $458.6 million and a net asset value per share of $9.72. The Fund's asset coverage ratio for senior securities reached 535%, while the total leverage coverage stood at 393%. Total long-term investments amounted to $614 million, with a major focus on equity (99%). The ten largest holdings include Targa Resources Corp. and Enterprise Products Partners L.P., emphasizing investments in the midstream and natural gas sectors.
Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) has secured a new $50 million unsecured revolving credit facility, replacing its previous facility set to expire on February 25, 2022. This new credit line will mature on February 24, 2023, with an interest rate ranging from SOFR plus 1.40% to SOFR plus 2.25%, depending on asset coverage ratios. Currently, the interest rate stands at SOFR plus 1.40%. As of February 25, 2022, KMF had $35 million in borrowings outstanding under this facility.
On February 1, 2022, Kayne Anderson NextGen Energy & Infrastructure announced its financials as of January 31, 2022. The Fund reported net assets of $437.1 million and a net asset value per share of $9.26. The asset coverage ratio for senior securities was 504%, while the total leverage coverage ratio stood at 373%. Long-term investments totaled $595 million, predominantly in equity (99%), with a focus on midstream and natural gas infrastructure. The Fund had 47,197,462 common shares outstanding, with notable holdings in companies like Enterprise Products Partners and Targa Resources.
On January 28, 2022, Kayne Anderson announced the tax characterization of 2021 distributions for Kayne Anderson Energy Infrastructure Fund (KYN) and Kayne Anderson NextGen Energy & Infrastructure Fund (KMF). Notably, 100% of the distributions for both funds are categorized as nondividend distributions (return of capital). This classification may influence investors' tax obligations. Additionally, the annual reports for KYN and KMF for the year ending November 30, 2021, are available online. Investors are encouraged to consult their tax advisors for personalized advice.
Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported its net asset value and asset coverage ratios as of December 31, 2021. The Fund's net assets were $422.3 million, with a net asset value per share of $8.95. Its asset coverage ratio for senior securities was 482%, while total leverage coverage was 359%. The Fund's total assets reached $587.4 million, primarily consisting of 99% equity and 1% debt investments. Major holdings include Enterprise Products Partners and Targa Resources, showcasing a diverse investment strategy in the energy sector.
Kayne Anderson NextGen Energy & Infrastructure announced a quarterly distribution of $0.14 per share for the fiscal quarter ended November 30, 2021. This distribution is scheduled for payment to common stockholders on January 11, 2022, with an ex-date of January 3, 2022 and a record date of January 4, 2022. The distribution represents a return of capital estimate of 100%, based on anticipated earnings and profits. Future distributions will be declared in March 2022, contingent upon Board approval and compliance with debt agreements.
Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported its net asset value (NAV) and asset coverage ratios as of November 30, 2021. The Fund's net assets totaled $415 million, with a NAV per share of $8.79. The asset coverage ratio was 488% for senior securities and 361% for total leverage. Long-term investments were $572 million, primarily in equity (99%), with notable allocations to midstream and renewable infrastructure companies. The Fund holds 47,197,462 common shares outstanding.
KA Fund Advisors will host a virtual investor update for Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) on November 18, 2021, at 10:00 a.m. Central Time. The event aims to provide updates on fund performance and portfolio positioning, discussing recent industry events. An on-demand replay will be available shortly after the event. Interested parties can register for the event through the provided link.
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