Kayne Anderson (NYSE:KYN)
Historical Stock Chart
2 Years : From May 2011 to May 2013
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.
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