Kayne Anderson Energy Total Return Fund Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset ...
September 02 2016 - 10:00PM
Business Wire
Kayne Anderson Energy Total Return Fund, Inc. (the “Fund”)
(NYSE:KYE) 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 August 31, 2016.
As of August 31, 2016, the Fund’s net assets were $435 million,
and its net asset value per share was $11.90. As of August 31,
2016, the Fund’s asset coverage ratio under the 1940 Act with
respect to senior securities representing indebtedness was 539% and
the Fund’s asset coverage ratio under the 1940 Act with respect to
total leverage (debt and preferred stock) was 335%.
Kayne Anderson Energy Total Return
Fund, Inc.
Statement of Assets and Liabilities August 31, 2016
(Unaudited) (in millions) Per Share
Investments $ 608.4 $ 16.64 Cash and cash equivalents 7.1 0.19
Deposits 0.2 0.01 Accrued income 3.1 0.09 Receivable for securities
sold 3.8 0.10 Other assets 1.8 0.05 Total assets 624.4 17.08
Senior notes 115.0 3.15 Preferred stock 70.0 1.91 Total leverage
185.0 5.06 Payable for securities purchased 1.9 0.05 Other
liabilities 2.5 0.07 Total liabilities 4.4 0.12 Net assets $
435.0 $ 11.90 The Fund had 36,558,050 common shares
outstanding as of August 31, 2016.
As of August 31, 2016, equity and debt investments were 86% and
14%, respectively, of the Fund’s long-term investments of $608
million. Long-term investments were comprised of MLP and MLP
Affiliate (36%), Midstream Company (29%), Marine (19%), Other
Energy (2%) and Debt (14%).
The Fund’s ten largest holdings by issuer at August 31, 2016
were:
Units / Shares
(in thousands)
Amount
($ millions)
Percent of Long-Term
Investments
1. Enbridge Energy Management, L.L.C. (MLP Affiliate) 2,895
$65.9 10.8% 2. ONEOK, Inc. (Midstream Company)
779 36.5 6.0% 3. Plains GP Holdings, L.P. (Midstream
Company) 2,954 33.6 5.5% 4. Targa Resources Corp. (Midstream
Company) 708 30.8 5.1% 5. Golar LNG Partners LP (Marine) 1,353 26.3
4.3% 6. Energy Transfer Partners, L.P. (MLP) 621 24.8 4.1% 7.
Capital Product Partners L.P. (Marine) 3,333 24.2 4.0% 8. KNOT
Offshore Partners LP (Marine) 1,158 21.6 3.5% 9. Dynagas LNG
Partners LP (Marine) 1,256 18.4 3.0% 10. GasLog Partners LP
(Marine) 843 16.7 2.8%
The Fund 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 Fund’s investment objective
is to obtain a high total return with an emphasis on current income
by investing primarily in securities of companies engaged in the
energy industry, principally including publicly-traded
energy-related master limited partnerships and limited liability
companies taxed as partnerships and their affiliates,
energy-related U.S. and Canadian royalty trusts and income trusts
and other companies that derive at least 50% of their revenues from
operating assets used in, or providing energy-related services for,
the exploration, development, production, gathering,
transportation, processing, storing, refining, distribution, mining
or marketing of 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.
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version on businesswire.com: http://www.businesswire.com/news/home/20160902005730/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com/
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