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.
Kayne Anderson NextGen Energy & Infrastructure reported its financials as of October 31, 2021, revealing net assets of $441 million and a net asset value per share of $9.33. The asset coverage ratio for senior securities was 503%, while total leverage coverage was 374%. The Fund's long-term investments totaled $599 million, primarily focused on midstream and renewable infrastructure companies. The top investment includes Enterprise Products Partners at $36.8 million, accounting for 6.1% of total long-term investments.
Kayne Anderson NextGen Energy & Infrastructure reported a net asset value (NAV) of $8.72 per share as of September 30, 2021, with net assets totaling $412 million. The fund's asset coverage ratio for senior securities was 489%, while the total leverage coverage ratio stood at 360%. Total assets amounted to $570.6 million, with long-term investments primarily in midstream and renewable energy sectors, making up 99% of the portfolio. The fund had 47,197,462 common shares outstanding.
Kayne Anderson NextGen Energy & Infrastructure announced a quarterly distribution of $0.14 per share for the fiscal quarter ended August 31, 2021. This is payable to common stockholders on October 8, 2021. Key dates include the ex-date on October 1, 2021 and the record date on October 4, 2021. The distribution consists of approximately 95% return of capital, based on anticipated earnings. Future distributions will depend on Board approval and adherence to debt covenants. The next declaration is expected in December 2021.
As of August 31, 2021, Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported net assets of $414 million with a net asset value per share of $8.77. The Fund's asset coverage ratio for senior securities was 505%, while total leverage stood at 369%. The portfolio largely comprises 99% equity investments, with the majority in Midstream (35%) and Renewable Infrastructure (22%). The Fund had 47,197,462 common shares outstanding.
Kayne Anderson NextGen Energy & Infrastructure announced a $20 million unsecured revolving credit facility with Sumitomo Mitsui Banking Corporation. This three-year facility, maturing on August 6, 2024, has an interest rate of 1-month LIBOR plus 1.35%, with a commitment fee of 0.20% on unused amounts. As of the announcement date, no borrowings were made under this facility. The Fund's strategy focuses on investing in Energy and Infrastructure Companies, particularly 'NextGen' firms involved in the Energy Transition.
As of July 31, 2021, Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported a net asset value of $8.69 per share, with total net assets of $410 million. The Fund's asset coverage ratio for senior securities was 491%, while total leverage coverage was 361%. The portfolio primarily consists of equity and debt investments, with a focus on Midstream (36%) and Renewable Infrastructure (22%) companies, indicating a strong commitment to energy transition strategies. The Fund holds 47,197,462 common shares outstanding.
Kayne Anderson NextGen Energy & Infrastructure announced the completion of a $12 million private placement of 2.44% Series J mandatory redeemable preferred shares (MRP Shares). The proceeds from this placement will be allocated to refinance existing leverage, invest in new portfolios, and support general corporate purposes. The Fund aims to provide substantial total returns by focusing on investments in energy and infrastructure companies, particularly those involved in the Energy Transition.
Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) announced a conditional agreement for a private placement of $12 million in mandatory redeemable preferred shares (MRP Shares), expected to close around July 28, 2021. Proceeds will refinance existing debt, fund new investments, and cover general corporate expenses. The MRP Shares will have a liquidation value of $12 million, a dividend rate of 2.44%, and a mandatory redemption date set for September 1, 2026. The issuance will not be registered under the Securities Act of 1933.
Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported its financial results as of June 30, 2021. The Fund's net assets totaled $424 million, with a net asset value per share of $8.99. Its asset coverage ratio for senior securities was 461%, and 374% for total leverage. The Fund's long-term investments amounted to $572 million, predominantly in equity (99%). Major holdings include Targa Resources Corp. and Enterprise Products Partners, representing 7.1% and 6.6% of long-term investments, respectively.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) has announced a quarterly distribution of $0.14 per share for the fiscal quarter ending May 31, 2021, reflecting a 56% increase from the previous distribution. This equates to a 7.7% distribution rate based on the stock's closing price on June 23, 2021. The distribution will be paid to shareholders on July 13, 2021. Management expresses confidence in the prospects of its portfolio in renewable infrastructure and energy sectors, indicating sustainable future distributions based on projected earnings and cash flows.
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