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.
On October 1, 2020, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) released its unaudited financials for September 30, 2020. The fund reported net assets of $675 million with a net asset value per share of $5.33. Its asset coverage ratios indicate a robust position, with coverage for senior securities at 602% and total leverage at 283%. Total assets were valued at $1,047.8 million, comprising mainly midstream energy investments (87%) and renewable infrastructure (13%). The fund had 126,447,554 common shares outstanding.
Kayne Anderson MLP/Midstream Investment Company (KYN) announced a quarterly distribution of $0.15 per share for the period ending August 31, 2020, payable to shareholders on September 30, 2020. The ex-dividend date is September 21, 2020 and the record date is September 22, 2020. The Company anticipates declaring the next distribution in December 2020, subject to Board approval and compliance with debt covenants. The distribution is categorized as a return of capital, estimated at 100% based on fiscal 2020 earnings.
On September 2, 2020, Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) reported its net assets totaling $783 million and a net asset value per share of $6.19 as of August 31, 2020. The company achieved an asset coverage ratio of 641% for senior securities and 308% for total leverage. The firm’s long-term investments were valued at $1.1 billion, primarily in Midstream MLPs (60%) and Companies (28%). The ten largest holdings include MPLX LP and Enterprise Products Partners, representing significant portions of the investment portfolio.
Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) reported its financial standing as of July 31, 2020. The Company has net assets of $786 million and a net asset value per share of $6.22. Its asset coverage ratio for senior securities is 643%, while the total leverage coverage is 309%. The investment portfolio includes 99% in equity and 1% in debt, totaling $1.1 billion. The ten largest holdings account for a significant portion of its investments, with MPLX LP being the largest at $152.3 million.
Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) has announced significant strategic changes to better align with the evolving energy sector. KYN plans to expand its investment focus to include renewable infrastructure and utilities, seeking shareholder approval to modify its investment objective from 85% in MLPs to a broader scope. The company will also change its name to Kayne Anderson Energy Infrastructure Fund, Inc. These adjustments aim to enhance portfolio flexibility and capitalize on the anticipated growth in renewable energy over the next decade.
Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) reported its financials as of June 30, 2020. The company's net assets stood at $819 million, with a net asset value per share of $6.47. The asset coverage ratio for senior securities represented 660%, while total leverage coverage was 317%. Of its long-term investments totaling $1.2 billion, 99% were in equity. The top ten holdings included MPLX LP and Enterprise Products Partners L.P. totaling $299.6 million combined, making up 25.3% of long-term investments.
HOUSTON, June 30, 2020 – KA Fund Advisors announced a management transition for Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN). Kevin McCarthy has stepped down as Chairman of the Board, and Michael Levitt, CEO of Kayne Anderson Capital Advisors, L.P., has joined the Board. Jim Baker has been appointed as the new Chairman. The changes are part of a succession plan established in January 2019. Levitt praised McCarthy for his 16 years of service and expressed optimism about the leadership transition's effect on KYN's market navigation.
Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) announced a quarterly distribution of $0.15 per share for the quarter ended May 31, 2020, to be paid on June 30, 2020. This marks a significant 58% reduction from the previous distribution rate of $0.36 per share. The company is transitioning from monthly to quarterly distributions due to unprecedented declines in equity prices affecting midstream companies. Future distributions will be subject to board approval and market conditions.
Kayne Anderson MLP/Midstream Investment Company (NYSE: KYN) reported its net asset value as of May 31, 2020, revealing net assets of $891 million and a net asset value per share of $7.04. The asset coverage ratio for senior securities was 700%, and for total leverage, it was 336%. As of this date, total assets were $1.34 billion, with 99% of long-term investments being equity. The company’s largest holdings include MPLX LP (12.6%) and Enterprise Products Partners L.P. (12.5%).
FAQ
What is the current stock price of Kayne Anderson Energy Infrastructure Fund (KYN)?
What is the market cap of Kayne Anderson Energy Infrastructure Fund (KYN)?
What is the primary investment objective of Kayne Anderson Energy Infrastructure Fund, Inc. (KYN)?
What type of assets does KYN invest in?
What was the recent significant corporate activity involving KYN?
What options did KMF stockholders have in the merger with KYN?
Who manages KYN?
What are KYN’s post-merger financial metrics?
What is the significance of KYN's investment approach?
How does KYN benefit from its merger with KMF?
What should KMF stockholders know about their election options in the merger?
Where can investors find more information about KYN?
