Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
04 July 2017 - 7:33AM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:KYN)
today provided a summary unaudited statement of assets and
liabilities and announced its net asset value and asset coverage
ratios under the Investment Company Act of 1940 (the “1940 Act”) as
of June 30, 2017.
As of June 30, 2017, the Company’s net assets were $2.1 billion,
and its net asset value per share was $18.32. As of June 30, 2017,
the Company’s asset coverage ratio under the 1940 Act with respect
to senior securities representing indebtedness was 415% and the
Company’s asset coverage ratio under the 1940 Act with respect to
total leverage (debt and preferred stock) was 300%.
Kayne Anderson MLP Investment Company Statement of Assets
and Liabilities June 30, 2017 (Unaudited)
(in millions) Per Share Investments $ 3,722.6 $ 32.57
Cash and cash equivalents 0.8 0.01 Deposits 0.2 0.00 Accrued income
0.6 0.01 Receivable for securities sold 17.7 0.15 Income tax
receivable 7.9 0.07 Other assets 1.8 0.02
Total assets 3,751.6 32.83 Term loan 10.0 0.09 Notes
747.0 6.54 Unamortized notes issuance costs (3.1 ) (0.03 )
Preferred stock 292.0 2.55 Unamortized preferred stock issuance
costs (2.6 ) (0.02 ) Total leverage 1,043.3
9.13 Payable for securities purchased
0.4 0.00 Other liabilities 6.7 0.06 Deferred tax liability
607.6 5.32 Total liabilities 614.7 5.38
Net assets $ 2,093.6 $ 18.32 The Company had
114,279,700 common shares outstanding as of June 30, 2017.
Long-term investments were comprised of Midstream MLP (87%),
Midstream Company (11%) and Shipping MLP (2%).
The Company’s ten largest holdings by issuer at June 30, 2017
were:
Units / Shares
(in thousands)
Amount
($ millions)
Percent
ofLong-TermInvestments
1. Enterprise Products Partners L.P. (Midstream MLP) 19,363 $524.4
14.1% 2. Energy Transfer Partners, L.P. (Midstream MLP) 19,879
405.3 10.9% 3. Williams Partners L.P. (Midstream MLP) 8,421 337.8
9.1% 4. MPLX LP (Midstream MLP)* 7,009 243.4 6.5% 5. Plains All
American Pipeline, L.P. (Midstream MLP) 8,962 235.4 6.3% 6. ONEOK,
Inc. (Midstream Company) 4,433 231.2 6.2% 7. Western Gas Partners,
LP (Midstream MLP) 3,841 214.9 5.8% 8. Buckeye Partners, L.P.
(Midstream MLP) 2,871 183.5 4.9% 9. DCP Midstream Partners, LP
(Midstream MLP) 5,010 169.5 4.6% 10. Targa Resources Corp.
(Midstream Company) 3,137 141.8 3.8% _____________ * Includes 4,753
common units ($158.7 million) and 2,256 preferred units ($84.7
million).
Kayne Anderson MLP Investment Company is a non-diversified,
closed-end management investment company registered under the
Investment Company Act of 1940, whose common stock is traded on the
NYSE. The Company's investment objective is to obtain a high
after-tax total return by investing at least 85% of its total
assets in energy-related master limited partnerships and their
affiliates (collectively, “MLPs”), and in other companies that, as
their principal business, operate assets used in the gathering,
transporting, processing, storing, refining, distributing, mining
or marketing natural gas, natural gas liquids (including propane),
crude oil, refined petroleum products or coal.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS: This press
release contains "forward-looking statements" as defined under the
U.S. federal securities laws. Generally, the words "believe,"
"expect," "intend," "estimate," "anticipate," "project," "will" and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ from the Fund’s historical experience and
its present expectations or projections indicated in any
forward-looking statements. These risks include, but are not
limited to, changes in economic and political conditions;
regulatory and legal changes; MLP industry risk; leverage risk;
valuation risk; interest rate risk; tax risk; and other risks
discussed in the Fund’s filings with the SEC. You should not place
undue reliance on forward-looking statements, which speak only as
of the date they are made. The Fund undertakes no obligation to
publicly update or revise any forward-looking statements made
herein. There is no assurance that the Fund’s investment objective
will be attained.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170703005638/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com/
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From Apr 2024 to May 2024
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From May 2023 to May 2024