Welcome to our dedicated page for Kayne Anderson Energy Infrastructure Fund news (Ticker: KYN), a resource for investors and traders seeking the latest updates and insights on Kayne Anderson Energy Infrastructure Fund stock.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) is a non-diversified, closed-end management investment company committed to delivering a high after-tax total return, with a particular focus on cash distributions to its stockholders. Registered under the Investment Company Act of 1940, KYN strategically invests at least 80% of its total assets in securities of Energy Infrastructure companies. The fund primarily targets entities involved in the midstream energy sector, which includes pipelines, storage, and other energy infrastructure assets.
Recently, KYN has been navigating significant corporate activities, including a merger with Kayne Anderson NextGen Energy & Infrastructure, Inc. (NYSE: KMF). This merger, approved by stockholders and set to be finalized on November 13, 2023, aims to enhance the combined entity's ability to capitalize on long-term growth opportunities in the energy infrastructure sector. KMF stockholders had the option to receive either newly issued common stock of KYN or cash, subject to proration procedures to ensure a balanced allocation.
KYN is managed by KA Fund Advisors, LLC, a subsidiary of Kayne Anderson Capital Advisors, L.P., which brings extensive expertise in the energy sector. The fund is designed to offer investors exposure to the robust and stable cash flows generated by energy infrastructure assets, which are often less sensitive to commodity price fluctuations compared to other energy investments.
Financially, KYN emerged post-merger with total assets approximating $2.3 billion and a net asset value (NAV) of about $1.7 billion. The effective NAV per share was $9.95 with approximately 169.1 million shares outstanding. This strong financial footing is a testament to KYN's strategic investment approach and commitment to shareholder value.
KYN’s investment strategy and recent achievements highlight its continued dedication to providing robust returns and consistent cash distributions. Investors seeking a reliable income stream backed by essential energy infrastructure assets find KYN a compelling option in their portfolios.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported its financial position as of October 31, 2024. The fund's net assets stood at $2.2 billion, with a net asset value per share of $12.97. The company's asset coverage ratios were strong, with 675% for senior securities indebtedness and 483% for total leverage. The portfolio primarily consists of Midstream Energy Companies (96%), with smaller allocations to Utility Companies (3%) and Other Energy (1%). The fund's largest holding is The Williams Companies, representing 10.3% of long-term investments, followed by Energy Transfer LP at 9.4%.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced a change in its distribution payment frequency from quarterly to monthly, starting November 2024. The company declared monthly distributions of $0.08 per share for November 2024, December 2024, and January 2025, equivalent to the previous quarterly distribution of $0.24 per share.
KYN's Board of Directors believes this change will make the fund more attractive to investors seeking more frequent payments. The company intends to continue declaring monthly distributions, subject to Board approval. Estimated return of capital for these distributions ranges from 0% to 75%, with final tax characterization to be determined after the end of the respective fiscal years.
KYN is a closed-end management investment company focused on providing high after-tax returns through investments in Energy Infrastructure Companies.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) released its unaudited balance sheet information and asset coverage ratios as of September 30, 2024. Key highlights include:
- Net assets: $2.1 billion
- Net asset value per share: $12.37
- Asset coverage ratio for senior securities (indebtedness): 632%
- Asset coverage ratio for total leverage: 456%
The fund's portfolio primarily consists of Midstream Energy Companies (94%), with smaller allocations to Utility Companies (5%) and Other Energy (1%). Top holdings include The Williams Companies, MPLX LP, and Energy Transfer LP, each representing 9.3% of long-term investments.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) has announced a quarterly distribution of $0.24 per share for the fiscal quarter ended August 31, 2024. This represents a $0.02 increase (9%) over the previous quarter's distribution. The distribution is payable to common stockholders on October 7, 2024.
Jim Baker, KYN's Chairman, President and CEO, expressed satisfaction with the company's fiscal 2024 performance and emphasized the importance of distributions to investors. The company aims to steadily increase KYN's distribution over time, supported by its operating results.
KYN is a non-diversified, closed-end management investment company that invests at least 80% of its total assets in securities of Energy Infrastructure Companies. The company's objective is to provide a high after-tax total return with an emphasis on cash distributions to stockholders.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) has successfully completed a private placement of $70 million in senior unsecured notes and $30 million in mandatory redeemable preferred shares (MRP Shares). The net proceeds will be used to refinance existing leverage and for general corporate purposes.
The placement includes:
- $30 million in Series YY Notes at 5.19% interest, maturing September 2031
- $40 million in Series ZZ Notes at 5.45% interest, maturing September 2036
- $30 million in Series X MRP Shares at 5.49% dividend rate, with mandatory redemption in September 2029
KYN is a closed-end management investment company focused on providing high after-tax total returns and cash distributions to stockholders, primarily investing in Energy Infrastructure Companies.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has released its unaudited financial information as of August 31, 2024. The company reported net assets of $2.1 billion and a net asset value per share of $12.60. KYN's asset coverage ratios were strong, with 625% for senior securities representing indebtedness and 462% for total leverage.
The fund's investments totaled $2.98 billion, primarily allocated to Midstream Energy Companies (93%), with smaller allocations to Utility Companies (4%) and Other Energy (3%). KYN's top holdings include major players in the midstream energy sector such as The Williams Companies, Energy Transfer LP, and MPLX LP.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) has announced a private placement of $100 million in financial instruments. This consists of $70 million in senior unsecured notes and $30 million in mandatory redeemable preferred shares (MRP Shares). The deal, expected to close around September 18, 2024, will be used to refinance existing leverage and for general corporate purposes.
The notes are divided into two series: Series YY ($30 million at 5.19% interest, maturing September 2031) and Series ZZ ($40 million at 5.45% interest, maturing September 2036). The MRP Shares (Series X) amount to $30 million with a 5.49% dividend rate and mandatory redemption in September 2029.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) released its unaudited balance sheet information and net asset value as of July 31, 2024. Key highlights include:
- Net assets: $2.1 billion
- Net asset value per share: $12.16
- Asset coverage ratio (debt): 605%
- Asset coverage ratio (total leverage): 448%
The fund's portfolio consists of 93% Midstream Energy Companies, 4% Other Energy, and 3% Utility Companies. Top holdings include Energy Transfer LP, MPLX LP, and Enterprise Products Partners L.P. KYN aims to provide high after-tax total returns with an emphasis on cash distributions to stockholders.
On July 1, 2024, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) released its unaudited balance sheet and net asset information for June 30, 2024. The fund reported net assets of $2.0 billion, with a net asset value per share of $11.79. The asset coverage ratio, under the Investment Company Act of 1940, was 621% for senior securities and 453% for total leverage. Long-term investments were valued at $2.78 billion, with midstream energy companies representing 92%, other energy 5%, and utilities 3%. The top holdings include Energy Transfer LP, MPLX LP, and Enterprise Products Partners L.P. Total liabilities were $263.6 million, including a deferred tax liability of $218.3 million. The company had 169,126,038 common shares outstanding.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced a quarterly distribution of $0.22 per share for the fiscal quarter ending May 31, 2024. The payment, scheduled for July 8, 2024, is based on anticipated earnings and profits, with an estimated 10% return of capital. The final tax characterization will be determined after the fiscal year ends. KYN focuses on providing high after-tax total returns, primarily through cash distributions, by investing at least 80% of its assets in Energy Infrastructure Companies. Distribution amounts may vary based on market conditions and portfolio changes.
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