Kayne Anderson MLP Investment Company Provides Unaudited Balance Sheet Information & Announces its Net Asset Value & Asset Co...
April 02 2012 - 6:27PM
Business Wire
Kayne Anderson MLP Investment Company (the “Company”) (NYSE:
KYN) today provided a summary unaudited balance sheet and announced
its net asset value and asset coverage ratios under the Investment
Company Act of 1940 (the “1940 Act”) as of March 31, 2012.
As of March 31, 2012, the Company’s net assets were $2.4
billion, and its net asset value per share was $28.79. As of March
31, 2012, the Company’s asset coverage ratio under the 1940 Act
with respect to senior securities representing indebtedness was
411% and the Company’s asset coverage ratio under the 1940 Act with
respect to total leverage (debt and preferred stock) was 289%.
Kayne Anderson MLP Investment Company Balance Sheet
March 31, 2012 (Unaudited) (in
millions) Per Share Investments $ 4,226.5 $ 51.00 Cash 2.0
0.02 Deposits 0.3
-
Accrued income 1.2 0.02 Receivable for securities sold 8.0 0.10
Other assets 11.1 0.14 Total assets 4,249.1 51.28 Credit
facility borrowings 112.0 1.35 Senior notes 775.0 9.35 Preferred
stock 374.0 4.52 Total leverage 1,261.0 15.22 Payable for
securities purchased 1.8 0.02 Deferred tax liability 584.0 7.05
Other liabilities 16.3 0.20 Total liabilities 602.1 7.27 Net
assets $ 2,386.0 $ 28.79 The Company had 82.87 million
common shares outstanding as of March 31, 2012.
Long-term investments were comprised of Midstream MLP (68%), MLP
Affiliate (9%), General Partner MLP (6%), Shipping MLP (5%),
Propane MLP (1%), Upstream MLP & Income Trust (3%) and Coal MLP
& Other (8%).
The Company’s ten largest holdings by issuer at March 31, 2012
were:
Percent of Units Amount
Long-Term (in thousands) ($ millions) Investments 1. Enterprise
Products Partners L.P. (Midstream MLP) 7,612 384.2 9.1% 2. Kinder
Morgan Management, LLC (MLP Affiliate) 3,986 297.5 7.0% 3. Plains
All American Pipeline, L.P. (Midstream MLP) 3,426 268.8 6.4% 4.
MarkWest Energy Partners, L.P. (Midstream MLP) 4,276 249.9 5.9% 5.
Energy Transfer Equity, L.P. (General Partner MLP) 4,425 178.3 4.2%
6. Regency Energy Partners LP (Midstream MLP) 6,902 169.7 4.0% 7.
Magellan Midstream Partners, L.P. (Midstream MLP) 2,334 168.9 4.0%
8. El Paso Pipeline Partners, L.P. (Midstream MLP) 4,676 163.2 3.9%
9. Williams Partners L.P. (Midstream MLP) 2,755 155.9 3.7% 10.
Buckeye Partners, L.P. (Midstream MLP) 2,407 142.7 3.4%
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 Company'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 Company'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 Company undertakes no
obligation to publicly update or revise any forward-looking
statements made herein. There is no assurance that the Company's
investment objectives will be attained.
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From Aug 2024 to Sep 2024
Kayne Anderson Energy In... (NYSE:KYN)
Historical Stock Chart
From Sep 2023 to Sep 2024