Kayne Anderson Energy Infrastructure Fund Shows Strong Financials
Financial Overview of Kayne Anderson Energy Infrastructure Fund
HOUSTON — Kayne Anderson Energy Infrastructure Fund, Inc. (the “Company”) (NYSE: KYN) has released a summary of its unaudited statements of assets, liabilities, and net asset value, as well as asset coverage ratios calculated in accordance with the Investment Company Act of 1940.
Net Asset Value and Coverage Ratios
As reported, the Company’s total net assets stood at an impressive $2.4 billion as of the end of July. This results in a net asset value per share of approximately $13.93. The fund demonstrates robust financial health, highlighted by a significant asset coverage ratio of 746% with respect to senior securities representing debt and 535% regarding total leverage, which includes both debt and preferred stock.
Assets Breakdown
The statement of assets and liabilities reveals that total assets are valued at $3.241 billion. The substantial assets were comprised primarily of investments, which amounted to $3.218 billion. Additionally, cash and cash equivalents contributed $9.4 million, along with other receivables leading to a well-rounded asset base.
Investments and Long-term Holdings
The portfolio is diversified, focusing mainly on midstream energy companies as the core of its long-term investments, accounting for 94% of the total. Only a small fraction is allocated to other sectors, showing a clear emphasis on the energy infrastructure market sector.
Top Ten Holdings
As of the end of July, the Company’s largest holdings reflect its investment strategy. The top ten positions primarily consist of leading midstream energy companies such as:
- The Williams Companies, Inc. - $356.3 million (11.1% of long-term investments)
- Energy Transfer LP - $329.6 million (10.2%)
- MPLX LP - $317.7 million (9.9%)
- Enterprise Products Partners L.P. - $315.4 million (9.8%)
- Cheniere Energy, Inc. - $270.4 million (8.4%)
- Kinder Morgan, Inc. - $223.1 million (6.9%)
- ONEOK, Inc. - $216.6 million (6.7%)
- TC Energy Corporation - $166.1 million (5.2%)
- Targa Resources Corp. - $160.7 million (5.0%)
- Western Midstream Partners, LP - $115.6 million (3.6%)
Conclusion and Company Overview
Kayne Anderson Energy Infrastructure Fund, Inc. continues to solidify its position in the market, focusing on generating favorable returns for its investors. With a commitment to invest at least 80% of its total assets in energy infrastructure securities, the Fund aims to maintain its competitive edge within this growth sector.
Frequently Asked Questions
What is the net asset value of Kayne Anderson Fund?
The net asset value of Kayne Anderson Energy Infrastructure Fund is $13.93 per share, with total net assets of $2.4 billion.
Which sectors does Kayne Anderson primarily invest in?
The Fund primarily invests in midstream energy companies, making up 94% of its total long-term investments.
How often does the Fund disclose its financials?
The Fund provides updates on its financials quarterly, including detailed reports on its holdings and performance metrics.
What is the significance of the asset coverage ratio?
The asset coverage ratio indicates the Fund's ability to meet its debt obligations, with ratios of 746% for senior securities and 535% for total leverage reflecting a strong financial position.
How can investors get in touch with Kayne Anderson?
Investors can reach out to Kayne Anderson Energy Infrastructure Fund's investor relations at 877-657-3863 or contact them via email.
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