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.
As of March 31, 2021, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported net assets of $1.0 billion and a net asset value per share of $8.16. The asset coverage ratio for senior securities was 492%, while the ratio for total leverage stood at 344%. Total assets reached $1.475 billion, with significant investments in midstream energy (82%), utility (10%), and renewable infrastructure (8%). The company holds 126,447,554 common shares outstanding, with MPLX LP being the largest investment at $175 million, representing 12.5% of long-term investments.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has declared a quarterly distribution of $0.15 per share for the fiscal quarter ending February 28, 2021. This distribution will be paid on March 31, 2021, with an ex-date of March 22, 2021 and a record date of March 23, 2021. The next distribution is expected in June 2021, contingent on Board approval and compliance with debt covenants. The distribution is considered a return of capital, estimated at 100%. However, future distributions are not guaranteed and may fluctuate based on market conditions.
As of February 28, 2021, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported net assets of $988 million and a net asset value per share of $7.82. The company's asset coverage ratio was 524% for senior securities and 353% for total leverage. Total assets were valued at $1.384 billion, with 126,447,554 common shares outstanding. Investments include Midstream Energy Companies (82%), Renewable Infrastructure (9%), and Utility (9%). The fund aims to provide high after-tax returns with a focus on cash distributions.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced a $170 million unsecured revolving credit facility, maturing on February 25, 2022. This replaces a previous $225 million facility that was to mature on February 8, 2021. The new facility has an interest rate of LIBOR plus 1.30% based on current asset coverage ratios, with a commitment fee of 0.20% on unused amounts. As of February 8, 2021, KYN had $119 million in outstanding borrowings. The company's investment strategy focuses on achieving high after-tax returns with significant cash distributions to shareholders.
On January 4, 2021, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced its net asset value and asset coverage ratios as of December 31, 2020. The company's net assets totaled $887 million with a net asset value per share of $7.02. The asset coverage ratio for senior securities was 465%, while the total leverage ratio was 313%. The fund's investments were primarily in Midstream Energy Companies (81%), followed by Utility Companies (10%) and Renewable Infrastructure Companies (9%).
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) declared a quarterly distribution of $0.15 per share for the period ending November 30, 2020. This distribution will be paid to common stockholders on December 31, 2020. The next distribution is anticipated to be announced and paid in March 2021. Future distributions depend on Board approval and compliance with the company's debt covenants. The company aims to provide high after-tax returns by investing at least 80% of assets in energy infrastructure securities.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported its financial metrics as of November 30, 2020. The net assets totaled $873 million, with a net asset value per share of $6.90. The asset coverage ratio concerning senior securities was 529%, while the total leverage asset coverage ratio stood at 335%. The fund's investments are primarily in Midstream Energy Companies (87%), with top holdings including MPLX LP, Enterprise Products Partners, and The Williams Companies. A total of 126,447,554 common shares are outstanding.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported its net assets at $698 million and a net asset value per share of $5.52 as of October 31, 2020. The company’s asset coverage ratio for senior securities was 521%, and for total leverage, it stood at 308%. The total assets amounted to $1,037.2 million. The report highlights a healthy financial position, indicating strong asset coverage in relation to its senior debt, which may attract investor confidence.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced stockholder approval for changes to its investment objective and fundamental policies regarding industry concentration. Chairman Jim Baker emphasized that these amendments aim to position KYN to better capitalize on the ongoing energy transition by expanding investments across various North American energy infrastructure sectors. The fund primarily focuses on achieving high after-tax total returns through substantial cash distributions to stockholders, with at least 80% of assets dedicated to energy infrastructure companies.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) has announced the adjournment of its Special Meeting of Stockholders to October 29, 2020. The meeting will be conducted virtually, where stockholders will vote on amendments to the company's investment objective and concentration policy, allowing greater flexibility to invest in renewable infrastructure. Those eligible to vote must have been stockholders as of August 18, 2020. Details on voting options are provided, and additional information is available on their website.
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