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 May 31, 2021, Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported net assets of $411 million, with a net asset value per share of $8.71. The Fund's total assets reached $559.4 million, while its asset coverage ratios were 491% for senior securities and 389% for total leverage. Long-term investments totaled $554 million, primarily in equity (99%). The ten largest holdings include Targa Resources Corp. and Enterprise Products Partners L.P., focusing on energy and infrastructure sectors.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) has completed a private placement of $20 million in floating rate Series I mandatory redeemable preferred shares. The funds will be utilized to refinance existing leverage and for general corporate purposes. KMF focuses on investing in Energy and Infrastructure Companies, particularly those involved in the Energy Transition, aiming to achieve a high total return while facilitating cash distributions to shareholders.
Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF) reported unaudited assets and liabilities as of April 30, 2021. The Fund's net assets totaled $396 million with a net asset value per share of $8.39. The asset coverage ratio for senior securities was 453%, and 381% for total leverage. Long-term investments were primarily in midstream companies (35%), renewable infrastructure (22%), and utilities (22%). The Fund had 47,197,462 shares outstanding.
HOUSTON, April 27, 2021 – Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) has secured a conditional agreement for a private placement of $20 million in mandatory redeemable preferred shares (MRP Shares), set to close on or about May 11, 2021. The funds will refinance existing leverage and support general corporate purposes. The MRP Shares feature a liquidation value of $20 million, a dividend rate tied to 3-month LIBOR + 175 bps, and a mandatory redemption date of June 1, 2026. The issuance is contingent on standard closing conditions and investor due diligence.
As of March 31, 2021, Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) reported net assets of $380 million and a net asset value per share of $8.04. The asset coverage ratio for senior securities was 451%, while total leverage coverage stood at 378%. The Fund’s long-term investments total $513 million, with 99% in equity and just 1% in debt. Key holdings include Enterprise Products Partners L.P. and Targa Resources Corp., making up significant portions of the portfolio.
Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) has announced a quarterly distribution of $0.09 per share for the fiscal quarter ending February 28, 2021. This distribution will be payable on March 31, 2021. The next distribution is anticipated to be declared in June 2021, subject to board approval and adherence to the Fund's debt covenants. The estimated return of capital for this distribution is 90%, based on the Fund's anticipated earnings. As a closed-end investment company, KMF aims for high total returns with a focus on cash distributions.
As of February 28, 2021, Kayne Anderson NextGen Energy & Infrastructure (KMF) reported net assets of $360 million and a net asset value per share of $7.64. The fund's asset coverage ratios were strong, with 492% for senior securities and 401% for total leverage. Investments totaled $476.1 million, predominantly in equity (99%). The top holdings included Targa Resources (31.7 million) and The Williams Companies (30.8 million). KMF aims to achieve high total returns through investments in energy and infrastructure companies involved in the Energy Transition.
Kayne Anderson NextGen Energy & Infrastructure announced a new $50 million unsecured revolving credit facility, replacing a $75 million facility. The new facility matures on February 25, 2022, with an interest rate based on LIBOR, currently set at LIBOR plus 1.30% due to current asset coverage ratios. A commitment fee of 0.20% will apply on unused amounts. As of February 8, 2021, the Fund had $25 million of borrowings outstanding. The Fund focuses on investments in 'NextGen' energy and infrastructure companies, aiming to deliver high total returns and cash distributions to shareholders.
As of December 31, 2020, Kayne Anderson NextGen Energy & Infrastructure reported net assets of $346 million and a net asset value (NAV) per share of $7.32. The fund's asset coverage ratio for senior securities was 475%, while the total leverage coverage ratio was 372%. Long-term investments totaled $467 million, primarily in equity (98%). The top holdings included Targa Resources Corp. and The Williams Companies, both significant in the midstream sector.
On December 9, 2020, Kayne Anderson NextGen Energy & Infrastructure announced a quarterly distribution of $0.09 per share for the fiscal quarter ending November 30, 2020. This payment is set for December 31, 2020, and is contingent upon Board approval and compliance with debt covenants. The next distribution is anticipated in March 2021, with amounts being variable based on market conditions and portfolio changes. The Fund targets energy and infrastructure investments, focusing on companies engaged in the Energy Transition.
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