Kayne Anderson Energy Total Return Fund Provides Unaudited Balance Sheet Information and Announces its Net Asset Value and As...
March 02 2018 - 7:08PM
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 February 28, 2018.
As of February 28, 2018, the Fund’s net assets were $363
million, and its net asset value per share was $9.88. As of
February 28, 2018, the Fund’s asset coverage ratio under the 1940
Act with respect to senior securities representing indebtedness was
396% and the Fund’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 306%.
|
Kayne Anderson Energy Total Return Fund,
Inc. |
Statement of Assets and
Liabilities |
February 28, 2018 |
(Unaudited) |
|
|
(in millions) |
|
Per Share |
Investments |
|
$ |
530.9 |
|
$ |
14.44 |
Cash and cash
equivalents |
|
5.6 |
|
0.15 |
Deposits |
|
0.2 |
|
0.01 |
Accrued income |
|
1.8 |
|
0.05 |
Receivable for
securities sold |
|
0.4 |
|
0.01 |
Other assets |
|
0.7 |
|
0.02 |
Total assets |
|
539.6 |
|
14.68 |
|
|
|
|
|
Term loan |
|
21.0 |
|
0.57 |
Notes |
|
115.0 |
|
3.13 |
Unamortized notes
issuance costs |
|
(0.5) |
|
(0.01) |
Preferred stock |
|
40.0 |
|
1.09 |
Unamortized preferred
stock issuance costs |
|
(0.6) |
|
(0.02) |
Total leverage |
|
174.9 |
|
4.76 |
|
|
|
|
|
Other liabilities |
|
1.6 |
|
0.04 |
|
|
|
|
|
Net assets |
|
$ |
363.1 |
|
$ |
9.88 |
|
|
|
|
|
The Fund
had 36,742,919 common shares outstanding as of February 28,
2018. |
|
As of February 28, 2018, equity and debt
investments were 94% and 6%, respectively, of the Fund’s long-term
investments of $531 million. Long-term investments were
comprised of Midstream Company (68%), MLP (24%), Other Energy (2%)
and Debt (6%).
The Fund’s ten largest holdings by issuer at February 28, 2018
were:
|
Units / Shares(in thousands) |
|
Amount (in millions) |
|
Percent of Long-Term Investments |
1. |
ONEOK, Inc. (Midstream Company) |
794 |
|
$44.7 |
|
8.4 |
% |
2. |
Enbridge Energy Management, L.L.C. (Midstream Company)
|
3,147 |
|
37.1 |
|
7.0 |
% |
3. |
Targa Resources Corp. (Midstream Company) |
813 |
|
36.3 |
|
6.8 |
% |
4. |
Plains GP Holdings, L.P. (Midstream Company) |
1,503 |
|
31.3 |
|
5.9 |
% |
5. |
Capital Product Partners L.P. (Midstream Company) |
3,333 |
|
26.2 |
|
4.9 |
% |
6. |
The Williams Companies, Inc. (Midstream Company) |
908 |
|
25.2 |
|
4.7 |
% |
7. |
Golar LNG Partners LP (Midstream Company) |
1,353 |
|
25.0 |
|
4.7 |
% |
8. |
Energy Transfer Partners, L.P. (MLP) |
1,338 |
|
24.4 |
|
4.6 |
% |
9. |
KNOT Offshore Partners LP (Midstream Company) |
1,158 |
|
23.0 |
|
4.3 |
% |
10. |
GasLog Partners LP (Midstream Company) |
818 |
|
19.2 |
|
3.6 |
% |
|
|
|
|
|
|
|
|
Kayne Anderson Energy Total Return Fund, Inc.
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, 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, coal or electricity.
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.
Contact:
KA Fund Advisors, LLC877-657-3863http://www.kaynefunds.com/
Kayne Anderson (NYSE:KYE)
Historical Stock Chart
From Aug 2024 to Sep 2024
Kayne Anderson (NYSE:KYE)
Historical Stock Chart
From Sep 2023 to Sep 2024