Kayne Anderson Energy Infrastructure Stock Price, News & Analysis

On April 27, 2022, Kayne Anderson announced the appointment of Caroline Winn as an independent director on the boards of Kayne Anderson Energy Infrastructure Fund, Inc. (KYN) and Kayne Anderson NextGen Energy & Infrastructure, Inc. (KMF). With Ms. Winn's appointment, the boards of both companies will expand to seven directors, enhancing their independent oversight. Ms. Winn brings over 30 years of experience in the utility sector, notably as CEO of San Diego Gas & Electric. Her expertise aims to strengthen the governance and strategic direction of the Companies.

On April 4, 2022, Kayne Anderson announced key promotions within its leadership team. Terry Hart, previously Chief Financial Officer, is now the Chief Operating Officer, having been with the firm since 2005. Colby Parker, who joined in 2014, has been promoted to Chief Financial Officer. Jim Baker, CEO, expressed confidence in both individuals, highlighting their integral roles in the firm's management. The Companies, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) and Kayne Anderson NextGen Energy & Infrastructure (NYSE: KMF), focus on providing high after-tax returns through investments in energy infrastructure.

As of March 31, 2022, Kayne Anderson Energy Infrastructure Fund (KYN) reported net assets of $1.5 billion and a net asset value per share of $10.83. The Company's asset coverage ratio was 501% for senior securities and 398% for total leverage. KYN’s long-term investments include Midstream Energy Companies (82%), Utility Companies (9%), Renewable Infrastructure (7%), and Other Energy (2%). The Company holds 136,131,530 common shares outstanding, with its top ten holdings mainly in midstream energy firms.

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced a quarterly distribution of $0.20 per share for the quarter ending February 28, 2022, marking a 14% increase from the previous distribution. Payment is scheduled for April 19, 2022. With the closing price as of March 29, 2022, KYN offers an annualized distribution rate of 8.8%. The company trades at a 15.9% discount to its NAV, highlighting the disparity between market price and intrinsic value. KYN's management emphasizes sustainable distributions based on net distributable income and portfolio performance.

On March 7, 2022, Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced the completion of its merger with Fiduciary/Claymore Energy Infrastructure Fund (NYSE: FMO). Shareholders of FMO received KYN shares based on an exchange rate reflecting their NAVs, which were $14.39 for FMO and $10.53 for KYN as of March 4, 2022. Post-merger, KYN's total assets reached approximately $2.0 billion with a NAV of $1.4 billion. The merger enhances KYN's market position and investment opportunities in the energy infrastructure sector while maintaining its distribution policy.

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) reported its net asset value and asset coverage ratios as of February 28, 2022. The net assets stood at $1.3 billion, and the net asset value per share was $10.15. The asset coverage ratio for senior securities was 526%, while total leverage coverage reached 401%. Long-term investments included 84% in Midstream Energy Companies. The fund had 126,447,554 common shares outstanding, emphasizing stability and continued investment in energy infrastructure.

Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE: KYN) announced the establishment of a $200 million unsecured revolving credit facility, which will mature on February 24, 2023. This replaces a previous $170 million facility maturing on February 25, 2022. The new facility features an interest rate ranging from SOFR plus 1.40% to SOFR plus 2.25%, based on asset coverage ratios, with current borrowings of $77 million. The company aims to provide high after-tax total returns by investing primarily in Energy Infrastructure Companies.

Kayne Anderson Energy Infrastructure Fund (NYSE: KYN) announced that shareholders of Fiduciary/Claymore Energy Infrastructure Fund (NYSE: FMO) approved the merger with KYN. The expected closing date is around March 7, 2022, subject to customary conditions. FMO shareholders will receive KYN common stock based on net asset values prior to closing. KYN aims for high after-tax returns through investments in energy infrastructure companies, holding at least 80% of assets in this sector.

Kayne Anderson Energy Infrastructure Fund reported its unaudited assets and liabilities as of January 31, 2022. The company's net assets stood at $1.2 billion, with a net asset value per share of $9.68. The asset coverage ratio for senior securities was 472%, while the coverage for total leverage was 367%. Investments were primarily in midstream energy companies, accounting for 82% of total investments. The company had 126,447,554 common shares outstanding, highlighting its solid financial position.