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 March 7, 2022, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced the completion of its merger with Fiduciary/Claymore Energy Infrastructure Fund (NYSE: FMO). Shareholders of FMO received KYN shares based on an exchange rate reflecting their NAVs, which were $14.39 for FMO and $10.53 for KYN as of March 4, 2022. Post-merger, KYN's total assets reached approximately $2.0 billion with a NAV of $1.4 billion. The merger enhances KYN's market position and investment opportunities in the energy infrastructure sector while maintaining its distribution policy.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported its net asset value and asset coverage ratios as of February 28, 2022. The net assets stood at $1.3 billion, and the net asset value per share was $10.15. The asset coverage ratio for senior securities was 526%, while total leverage coverage reached 401%. Long-term investments included 84% in Midstream Energy Companies. The fund had 126,447,554 common shares outstanding, emphasizing stability and continued investment in energy infrastructure.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) announced the establishment of a $200 million unsecured revolving credit facility, which will mature on February 24, 2023. This replaces a previous $170 million facility maturing on February 25, 2022. The new facility features an interest rate ranging from SOFR plus 1.40% to SOFR plus 2.25%, based on asset coverage ratios, with current borrowings of $77 million. The company aims to provide high after-tax total returns by investing primarily in Energy Infrastructure Companies.
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced that shareholders of Fiduciary/Claymore Energy Infrastructure Fund (NYSE: FMO) approved the merger with KYN. The expected closing date is around March 7, 2022, subject to customary conditions. FMO shareholders will receive KYN common stock based on net asset values prior to closing. KYN aims for high after-tax returns through investments in energy infrastructure companies, holding at least 80% of assets in this sector.
Kayne Anderson Energy Infrastructure Fund reported its unaudited assets and liabilities as of January 31, 2022. The company's net assets stood at $1.2 billion, with a net asset value per share of $9.68. The asset coverage ratio for senior securities was 472%, while the coverage for total leverage was 367%. Investments were primarily in midstream energy companies, accounting for 82% of total investments. The company had 126,447,554 common shares outstanding, highlighting its solid financial position.
On January 28, 2022, Kayne Anderson announced the tax characterization of 2021 distributions for Kayne Anderson Energy Infrastructure Fund (KYN) and Kayne Anderson NextGen Energy & Infrastructure Fund (KMF). Notably, 100% of the distributions for both funds are categorized as nondividend distributions (return of capital). This classification may influence investors' tax obligations. Additionally, the annual reports for KYN and KMF for the year ending November 30, 2021, are available online. Investors are encouraged to consult their tax advisors for personalized advice.
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) reported its unaudited statement of assets and liabilities as of December 31, 2021. The Company has net assets of $1.1 billion, translating to a net asset value per share of $9.06. The asset coverage ratio under the Investment Company Act is 456% regarding senior securities and 353% for total leverage (debt and preferred stock). The fund primarily invests in midstream energy companies (81%), utilities (10%), renewable infrastructure (8%), and other energy sectors (1%).
Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced a quarterly distribution of $0.175 per share for the quarter ending November 30, 2021, payable on January 11, 2022. The ex-date is January 3, 2022, and the record date is January 4, 2022. The company intends to declare its next distribution in March 2022, subject to Board approval and compliance with debt agreements. As a non-diversified closed-end management investment company, KYN focuses on high after-tax returns through investments in energy infrastructure securities.
As of November 30, 2021, Kayne Anderson Energy Infrastructure Fund reported net assets of $1.1 billion and a net asset value per share of $8.89. The company's asset coverage ratios stood at 480% for senior securities and 365% for total leverage. The fund has 126,447,554 common shares outstanding, with a majority of its investments in midstream energy companies (81%). Its ten largest investments include MPLX LP and Enterprise Products Partners, comprising significant portions of its long-term assets.
KA Fund Advisors will host a virtual investor update for Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF) on November 18, 2021, at 10:00 a.m. Central Time. The event aims to provide updates on fund performance and portfolio positioning, discussing recent industry events. An on-demand replay will be available shortly after the event. Interested parties can register for the event through the provided link.
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