Kayne Anderson (NYSE:KYN)
Historical Stock Chart
1 Year : From May 2012 to May 2013
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 May 31, 2012.
As of May 31, 2012, the Company’s net assets were $2.2 billion, and its
net asset value per share was $26.38. As of May 31, 2012, the Company’s
asset coverage ratio under the 1940 Act with respect to senior
securities representing indebtedness was 385% and the Company’s asset
coverage ratio under the 1940 Act with respect to total leverage (debt
and preferred stock) was 272%.
Kayne Anderson MLP Investment Company
Statement of Assets and Liabilities
May 31, 2012
(Unaudited)
(in millions)
Per Share
Investments
$
3,948.4
$
47.54
Cash
22.8
0.27
Deposits
0.3
—
Accrued income
1.0
0.01
Receivable for securities sold
11.7
0.14
Other assets
12.2
0.15
Total assets
3,996.4
48.11
Credit facility borrowings
9.0
0.11
Senior notes
890.0
10.71
Preferred stock
374.0
4.50
Total leverage
1,273.0
15.32
Payable for securities purchased
8.8
0.11
Deferred tax liability
492.6
5.93
Other liabilities
31.0
0.37
Total liabilities
532.4
6.41
Net assets
$
2,191.0
$
26.38
The Company had 83.06 million common shares outstanding as of May
31, 2012.
Long-term investments were comprised of Midstream MLP (70%), MLP
Affiliate (9%), General Partner MLP (6%), Shipping MLP (5%), Propane MLP
(2%), Upstream MLP & Income Trust (3%) and Coal MLP & Other (5%).
The Company’s ten largest holdings by issuer at May 31, 2012 were:
Units(in thousands)
Amount($ millions)
Percent ofLong-TermInvestments
1.
Enterprise Products Partners L.P. (Midstream MLP)
7,612
371.2
9.4%
2.
Kinder Morgan Management, LLC (MLP Affiliate)
4,050
287.6
7.3%
3.
Plains All American Pipeline, L.P. (Midstream MLP)
3,426
269.0
6.8%
4.
MarkWest Energy Partners, L.P. (Midstream MLP)
4,442
212.9
5.4%
5.
Regency Energy Partners LP (Midstream MLP)
7,684
165.4
4.2%
6.
Energy Transfer Equity, L.P. (General Partner MLP)
4,425
160.7
4.1%
8.
Magellan Midstream Partners, L.P. (Midstream MLP)
2,279
156.8
4.0%
7.
Williams Partners L.P. (Midstream MLP)
2,958
156.5
4.0%
9.
El Paso Pipeline Partners, L.P. (Midstream MLP)
4,676
153.4
3.9%
10.
ONEOK Partners, L.P. (Midstream MLP)
2,456
134.1
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.
