Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
May 01 2017 - 9:20PM
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 April 30, 2017.
As of April 30, 2017, the Company’s net assets were $2.3
billion, and its net asset value per share was $19.70. As of April
30, 2017, the Company’s asset coverage ratio under the 1940 Act
with respect to senior securities representing indebtedness was
390% and the Company’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 291%.
Kayne Anderson MLP Investment
Company
Statement of Assets and Liabilities April 30, 2017
(Unaudited) (in millions) Per Share
Investments $ 4,093.4 $ 35.82 Cash and cash equivalents 9.5 0.08
Deposits 0.2 - Accrued income 30.9 0.27 Receivable for securities
sold 0.8 0.01 Income tax receivable 7.9 0.07 Other assets
1.9 0.02 Total assets 4,144.6 36.27 Term loan 132.0
1.15 Senior notes 747.0 6.54 Unamortized notes issuance costs (3.2)
(0.03) Preferred stock 300.0 2.63 Unamortized preferred stock
issuance costs (2.7) (0.02) Total leverage
1,173.1 10.27 Other liabilities 21.6 0.19 Deferred
income tax liability 698.3 6.11 Total liabilities
719.9 6.30 Net assets $ 2,251.6 $ 19.70 The Company
had 114,279,700 common shares outstanding as of April 30, 2017.
Long-term investments were comprised of Midstream MLP (93%),
Midstream Company (5%) and Shipping MLP (2%).
The Company’s ten largest holdings by issuer at April 30, 2017
were:
Units / Shares(in
thousands)
Amount($
millions)
Percent
ofLong-TermInvestments
1. Enterprise Products Partners L.P. (Midstream MLP) 19,085 $521.4
12.7% 2. Energy Transfer Partners, L.P. (Midstream MLP) 19,879
475.9 11.6% 3. Williams Partners L.P. (Midstream MLP) 9,357 383.0
9.4% 4. ONEOK Partners, L.P. (Midstream MLP)* 5,566 286.4 7.0% 5.
Plains All American Pipeline, L.P. (Midstream MLP) 8,962 262.1 6.4%
6. MPLX LP (Midstream MLP)** 7,009 255.6 6.2% 7. Western Gas
Partners, LP (Midstream MLP)*** 3,841 225.5 5.5% 8. DCP Midstream
Partners, LP (Midstream MLP) 5,210 197.4 4.8% 9. Buckeye Partners,
L.P. (Midstream MLP) 2,748 190.1 4.6% 10. Targa Resources Corp.
(Midstream Company) 3,137 172.9 4.2% _____________
* On February 1, 2017, ONEOK, Inc. (“OKE”)
and ONEOK Partners, L.P. (“OKS”) announced an agreement under which
OKE will acquire all common units of OKS in a stock-for-unit
transaction. As of April 30, 2017, the Company did not own any OKE
shares.
** Includes 4,752 common units ($167.5 million) and 2,255
preferred units ($88.1 million). *** Includes 3,774 common
units ($221.6 million) and 67 preferred units ($3.9 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/20170501006472/en/
KA Fund Advisors, LLCMonique Vo,
877-657-3863http://www.kaynefunds.com/
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From Apr 2023 to Apr 2024