Highlights of Kayne Anderson Energy Infrastructure Fund
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) has recently released its unaudited balance sheet information, revealing significant details about its financial health as of the end of October 2024. With total net assets reaching an impressive $2.2 billion, the fund continues to solidify its position within the energy infrastructure sector.
Net Assets and Asset Coverage Ratios
As of the end of October 2024, Kayne Anderson reported a net asset value (NAV) per share of $12.97. This figure highlights the value held by each share of the fund, demonstrating its commitment to creating value for its investors. Furthermore, the company's asset coverage ratio concerning senior securities representing indebtedness stands at an impressive 675%, while the ratio concerning total leverage, which includes both debt and preferred stock, is a notable 483%.
Statement of Assets and Liabilities
The company's unaudited statement of assets and liabilities provides further insights into its financial standing. Total assets amount to $3.06 billion, indicating a strong asset base. The fund reports major categories within its assets that include:
- Investments totaling $3,002.2 million
- Cash and cash equivalents at $35.7 million
- Accrued income amounting to $11.2 million
In addition, the company highlights total liabilities of $293.5 million, leading to net assets of approximately $2.19 billion. This scenario sets a solid framework for the fund’s ongoing investments and commitments.
Shares and Investment Strategy
By the end of October 2024, Kayne Anderson had 169,126,038 common shares outstanding, showcasing its outreach and investor engagement. The company primarily invests in the energy sector, focusing on midstream energy companies, utility companies, and others within the energy domain. Specifically, its long-term investments are allocated as follows:
- Midstream Energy Companies: 96%
- Utility Companies: 3%
- Other Energy: 1%
Top Holdings Overview
Among its portfolio, Kayne Anderson highlights its top ten holdings which play a critical role in the overall investment strategy. Notable companies within these holdings include:
- The Williams Companies, Inc. — $309.5 million (10.3% of Long-term Investments)
- Energy Transfer LP — $281.1 million (9.4%)
- MPLX LP — $273.6 million (9.1%)
- Enterprise Products Partners L.P. — $258.3 million (8.6%)
- ONEOK, Inc. — $226.8 million (7.6%)
The described top ten holdings amount to a strategic blend ensuring robust returns for stakeholders. Each entity within this framework exhibits strong operational performance, contributing to the robust asset coverage ratios displayed by Kayne Anderson.
Future Outlook and Investor Relations
Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) continues to aim for high after-tax total returns, focusing particularly on cash distributions to stockholders. The fund maintains diligent oversight of its investments, consistently reviewing portfolios against external market conditions to optimize returns.
For those looking to explore the fund further, they can access more comprehensive details through its quarterly and annual reports which outline all specific holdings and further financial information.
Frequently Asked Questions
1. What is the primary objective of the Kayne Anderson Energy Infrastructure Fund?
The primary objective is to provide high after-tax total returns with an emphasis on cash distributions to shareholders.
2. What was the net asset value per share as of October 31, 2024?
The net asset value per share was reported at $12.97.
3. How much leverage does the fund have?
The asset coverage ratio regarding total leverage is at 483%.
4. Who are the top holdings in the portfolio?
Top holdings include The Williams Companies, Energy Transfer LP, and MPLX LP, among others.
5. Where can I find more information about Kayne Anderson's investments?
More information can be obtained through the fund's most recent quarterly or annual reports available on their website.
