Kayne Anderson Energy Infrastructure Fund: Q3 2024 Financial Insights
Kayne Anderson Energy Infrastructure Fund Reports Financial Overview
HOUSTON — Kayne Anderson Energy Infrastructure Fund, Inc. (the "Company") (NYSE: KYN) has recently disclosed its unaudited statement of assets and liabilities. This report reveals the net asset value and significant asset coverage ratios as part of its compliance with the Investment Company Act of 1940.
Net Asset Value and Asset Coverage Ratios
As of the close of the latest reporting period, the Company’s net assets totaled approximately $2.1 billion, equating to a net asset value per share of $12.37. In terms of asset coverage ratios, the Company recorded a strong 632% with respect to senior securities representing indebtedness and a robust 456% for total leverage, which accounts for both debt and preferred stock.
Detailed Assets and Liabilities Statement
The following assets were recorded as of the reporting date:
- Investments: $2,957.6 million
- Cash and Cash Equivalents: $15.8 million
- Accrued Income: $2.2 million
- Other Assets: $0.6 million
The total assets reached $2,976.2 million. In contrast, key liabilities included:
- Notes: $424.4 million
- Preferred Stock: $163.1 million
- Distribution Payable: $40.6 million
All these figures culminated in total liabilities of $300 million, resulting in net assets of $2,092.8 million.
Overview of Investment Strategy
The Company maintained a diversified portfolio with a focus on long-term investments. Approximately 94% of its investments are directed towards Midstream Energy Companies, with the remainder allocated to Utility Companies (5%) and Other Energy sectors (1%). The strategic allocation aims to optimize returns while mitigating risk through diversification.
Top Holdings in the Portfolio
As of the latest financial disclosure, the Company’s noteworthy holdings included:
- The Williams Companies, Inc.: $274.3 million (9.3% of Long Term Investments)
- MPLX LP: $273.9 million (9.3%)
- Energy Transfer LP: $273.8 million (9.3%)
- Enterprise Products Partners L.P.: $260.7 million (8.8%)
- ONEOK, Inc.: $218.1 million (7.4%)
- Targa Resources Corp.: $204.4 million (6.9%)
- Cheniere Energy, Inc.: $182.8 million (6.2%)
- Western Midstream Partners, LP: $167.1 million (5.6%)
- Kinder Morgan, Inc.: $166.7 million (5.6%)
- Pembina Pipeline Corporation: $130.6 million (4.4%)
These top ten investments exemplify the Company’s strategy to engage with major players in the energy infrastructure sector, thus positioning itself for sustained growth.
Company Background and Outlook
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) operates as a non-diversified, closed-end management investment company. With its common stock traded publicly, the Company's investment mantra is centered around providing a high after-tax total return while emphasizing regular cash distributions to shareholders. The approach includes investing at least 80% of total assets into securities specifically related to Energy Infrastructure Companies.
In summation, Kayne Anderson is poised to leverage its strategic investments amid the evolving energy landscape, continuously aiming to deliver value to its investors.
Frequently Asked Questions
What is the net asset value of Kayne Anderson Energy Infrastructure Fund?
The net asset value per share was reported at $12.37 as of the latest disclosure.
What percentage of investments is allocated to Midstream Energy Companies?
Roughly 94% of the Company’s investments are concentrated in Midstream Energy Companies.
How much are total assets and liabilities?
The total assets are approximately $2,976.2 million, while total liabilities stand at $300 million.
Who are the top holdings of the fund?
The top holdings include The Williams Companies, MPLX LP, and Energy Transfer LP, among others.
What is the investment strategy of Kayne Anderson Fund?
The strategy focuses on a high after-tax total return through significant investment in energy infrastructure securities.
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