(KYN) Kayne Anderson MLP - Overview
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 2.461m USD | Total Return: 27.3% in 12m
Avg Turnover: 5.58M
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
Kayne Anderson Energy Infrastructure Fund (KYN) is a closed-end equity mutual fund managed by KA Fund Advisors, LLC. The fund focuses on the United States energy sector, primarily targeting investments in energy-related Master Limited Partnerships (MLPs) and midstream infrastructure companies. Formed in 2004, the fund seeks to provide exposure to the public equity markets through assets involved in the storage and transportation of oil and gas.
The MLP business model is distinct because these entities are structured as pass-through formations for tax purposes, typically distributing a significant portion of their cash flow to investors. Midstream infrastructure serves as a critical link in the energy value chain, utilizing long-term, fee-based contracts that often provide more stable revenue streams compared to the price-sensitive exploration and production segments.
Investors looking for deeper insights into these distribution models should consult ValueRay for further analysis. Established infrastructure assets like those held by KYN are often valued based on their ability to maintain consistent throughput volumes regardless of commodity price volatility.
- Midstream energy infrastructure volume growth drives fee-based distribution income
- Crude oil and natural gas price volatility impacts MLP equity valuations
- Federal corporate tax policy changes affect after-tax net asset value
- Interest rate fluctuations influence cost of leverage and investor yield spreads
- Regulatory shifts in pipeline permitting impact long-term infrastructure project backlogs
| Net Income: -46.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.07 > 0.02 and ΔFCF/TA 5.51 > 1.0 |
| NWC/Revenue: 358.6% < 20% (prev -32.44%; Δ 391.0% < -1%) |
| CFO/TA 0.07 > 3% & CFO 223.5m > Net Income -46.9m |
| Net Debt/EBITDA: error (EBITDA <= 0) |
| Current Ratio: 0.01 > 1.5 & < 3 |
| Outstanding Shares: last quarter (169.1m) vs 12m ago 0.0% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: -1.25% > 50% (prev 10.14%; Δ -11.39% > 0%) |
| Interest Coverage Ratio: -3.13 > 6 (EBITDA TTM -74.6m / Interest Expense TTM 23.8m) |
| A: -0.05 (Total Current Assets 822k - Total Current Liabilities 152.1m) / Total Assets 3.22b |
| B: -0.07 (Retained Earnings -240.1m / Total Assets 3.22b) |
| C: -0.02 (EBIT TTM -74.6m / Avg Total Assets 3.39b) |
| D: -0.27 (Book Value of Equity -239.9m / Total Liabilities 890.6m) |
| Altman-Z'' = -0.98 = CCC |
As of May 24, 2026, the stock is trading at USD 14.25 with a total of 519,323 shares traded.
Over the past week, the price has changed by -1.53%,
over one month by +5.74%,
over three months by +3.59% and
over the past year by +27.25%.
Kayne Anderson MLP has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold KYN.
- StrongBuy: 0
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 33 | 131.6% |
P/B = 1.0551
Revenue TTM = -42.2m USD
EBIT TTM = -74.6m USD
EBITDA TTM = -74.6m USD
Long Term Debt = unknown (none)
Short Term Debt = 100.0m USD (from shortTermDebt, two quarters ago)
Debt = 415.0m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 415.0m USD (using Total Debt 415.0m, CCE unavailable)
Enterprise Value = 2.88b USD (2.46b + Debt 415.0m - (null CCE))
Interest Coverage Ratio = -3.13 (Ebit TTM -74.6m / Interest Expense TTM 23.8m)
EV/FCF = 12.87x (Enterprise Value 2.88b / FCF TTM 223.5m)
FCF Yield = 7.77% (FCF TTM 223.5m / Enterprise Value 2.88b)
WARNING: Negative Revenue TTM = -42.2m
FCF Margin = -530.0% (FCF TTM 223.5m / Revenue TTM -42.2m)
WARNING: Negative Revenue TTM = -42.2m
Net Margin = 111.1% (Net Income TTM -46.9m / Revenue TTM -42.2m)
WARNING: Negative Revenue TTM = -42.2m
Gross Margin = unknown ((Revenue TTM -42.2m - Cost of Revenue TTM 23.8m) / Revenue TTM)
Tobins Q-Ratio = 0.89 (Enterprise Value 2.88b / Total Assets 3.22b)
Interest Expense / Debt = 5.74% (Interest Expense 23.8m / Debt 415.0m)
Taxrate = 21.0% (US default 21%)
NOPAT = -58.9m (EBIT -74.6m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 0.01 (Total Current Assets 822k / Total Current Liabilities 152.1m)
Debt / Equity = 0.18 (Debt 415.0m / totalStockholderEquity, last quarter 2.33b)
Debt / EBITDA = -5.57 (negative EBITDA) (Net Debt 415.0m / EBITDA -74.6m)
Debt / FCF = 1.86 (Net Debt 415.0m / FCF TTM 223.5m)
Total Stockholder Equity = 2.37b (last 4 quarters mean from totalStockholderEquity)
RoA = -1.38% (Net Income -46.9m / Total Assets 3.22b)
RoE = -1.80% (Net Income TTM -46.9m / Total Stockholder Equity 2.61b)
RoCE = -2.43% (EBIT -74.6m / Capital Employed (Total Assets 3.22b - Current Liab 152.1m))
RoIC = -1.83% (negative operating profit) (NOPAT -58.9m / Invested Capital 3.21b)
WACC = 7.31% (E(2.46b)/V(2.88b) * Re(7.78%) + D(415.0m)/V(2.88b) * Rd(5.74%) * (1-Tc(0.21)))
Discount Rate = 7.78% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 61.46 | Cagr: 10.13%
[DCF] Terminal Value 77.97% ; FCFF base≈154.3m ; Y1≈176.9m ; Y5≈260.4m
[DCF] Fair Price = 20.71 (EV 3.92b - Net Debt 415.0m = Equity 3.50b / Shares 169.1m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.20 | # QB: 0
Revenue Correlation: N/A | Revenue CAGR: N/A | SUE: N/A | # QB: 0