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HOUSTON, Sept. 02, 2020 (GLOBE NEWSWIRE) -- Kayne Anderson MLP/Midstream 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 August 31, 2020.
As of August 31, 2020, the Company’s net assets were $783 million, and its net asset value per share was $6.19. As of August 31, 2020, the Company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 641% and the Company’s asset coverage ratio under the 1940 Act with respect to total leverage (debt and preferred stock) was 308%.
| Kayne Anderson MLP/Midstream Investment Company | ||||
| Statement of Assets and Liabilities | ||||
| August 31, 2020 | ||||
| (Unaudited) | ||||
| (in millions) | ||||
| Investments | $ | 1,105.1 | ||
| Cash and cash equivalents | 45.1 | |||
| Receivable for securities sold | 3.6 | |||
| Deposits | - | |||
| Accrued income | 0.9 | |||
| Current tax asset, net | 35.0 | |||
| Other assets | 1.1 | |||
| Total assets | 1,190.8 | |||
| Notes | 181.0 | |||
| Unamortized notes issuance costs | (0.4 | ) | ||
| Preferred stock | 195.7 | |||
| Unamortized preferred stock issuance costs | (1.9 | ) | ||
| Total leverage | 374.4 | |||
| Payable for securities purchased | 2.4 | |||
| Other liabilities | 9.0 | |||
| Deferred tax liability | 21.8 | |||
| Total liabilities | 33.2 | |||
| Net assets | $ | 783.2 | ||
| The Company had 126,447,554 common shares outstanding as of August 31, 2020. | ||||
As of August 31, 2020, equity and debt investments were 99% and 1%, respectively, of the Company’s long-term investments of $1.1 billion. Long-term investments were comprised of Midstream MLP (60%), Midstream Company (28%), Renewable Infrastructure Company/Utility (11%) and Debt (1%).
The Company’s ten largest holdings by issuer at August 31, 2020 were:
| Amount | Percent of | ||||
| 1. | MPLX LP (Midstream MLP) | $141.3 | 12.8 | % | |
| 2. | Enterprise Products Partners L.P. (Midstream MLP) | 124.2 | 11.2 | % | |
| 3. | The Williams Companies, Inc. (Midstream Company) | 105.6 | 9.6 | % | |
| 4. | Energy Transfer LP (Midstream MLP) | 89.3 | 8.1 | % | |
| 5. | Targa Resources Corp. (Midstream Company) | 57.6 | 5.2 | % | |
| 6. | Magellan Midstream Partners, L.P. (Midstream MLP) | 56.3 | 5.1 | % | |
| 7. | Plains All American Pipeline, L.P. (Midstream MLP) | 45.2 | 4.1 | % | |
| 8. | Western Midstream Partners, LP (Midstream MLP) | 44.3 | 4.0 | % | |
| 9. | Shell Midstream Partners, L.P. (Midstream MLP) | 37.3 | 3.4 | % | |
| 10. | Phillips 66 Partners LP (Midstream MLP) | 32.3 | 2.9 | % | |
| ____________ | |||||
Portfolio holdings are subject to change without notice. The mention of specific securities is not a recommendation or solicitation for any person to buy, sell or hold any particular security. You can obtain a complete listing of holdings by viewing the Company’s most recent quarterly or annual report.