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Kayne Anderson MLP/Midstream Investment

BST:KA5
Snowflake Description

Fair value with imperfect balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KA5
BST
$409M
Market Cap
  1. Home
  2. DE
  3. Diversified Financials
Company description

Kayne Anderson MLP Investment Company is a closed ended equity mutual fund launched and managed by KA Fund Advisors, LLC. The last earnings update was 62 days ago. More info.


Add to Portfolio Compare Print
  • Kayne Anderson MLP/Midstream Investment is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • Kayne Anderson MLP/Midstream Investment has significant price volatility in the past 3 months.
KA5 Share Price and Events
7 Day Returns
13.9%
BST:KA5
12.4%
DE Capital Markets
7.3%
DE Market
1 Year Returns
-78.7%
BST:KA5
-8.8%
DE Capital Markets
-17.7%
DE Market
KA5 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kayne Anderson MLP/Midstream Investment (KA5) 13.9% -69.6% -75.4% -78.7% - -
DE Capital Markets 12.4% -22.2% -16.8% -8.8% -29.1% -56.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • KA5 underperformed the Capital Markets industry which returned -8.8% over the past year.
  • KA5 underperformed the Market in Germany which returned -17.7% over the past year.

Value

 Is Kayne Anderson MLP/Midstream Investment undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kayne Anderson MLP/Midstream Investment to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kayne Anderson MLP/Midstream Investment.

BST:KA5 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Median Return on Equity from the past 5 years.
= Stable Book Value * Return on Equity
= $17.26 * 4%
$0.69
Book Value of Equity per Share Median Book Value from the past 5 years. $17.26
Discount Rate (Cost of Equity) See below 9.5%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for BST:KA5
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Capital Markets Unlevered Beta Simply Wall St/ S&P Global 0.75
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.751 (1 + (1- 21%) (245.64%))
1.81
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.81
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.81 * 5.44%)
9.46%

Discounted Cash Flow Calculation for BST:KA5 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Kayne Anderson MLP/Midstream Investment is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

BST:KA5 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (4% – 9.46%) * $17.26)
$-0.94
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $-0.94 / (9.46% - -0.39%)
$-9.58
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $17.26 + $-9.58
$7.67
BST:KA5 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in BST:KA5 represents 0.93411x of NYSE:KYN
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.93411x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 7.67 x 0.93411
€7.17
Value per share (EUR) From above. €7.17
Current discount Discount to share price of €3.03
= -1 x (€3.03 - €7.17) / €7.17
57.8%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Kayne Anderson MLP/Midstream Investment is available for.
Intrinsic value
>50%
Share price is €3.03 vs Future cash flow value of €7.17
Current Discount Checks
For Kayne Anderson MLP/Midstream Investment to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kayne Anderson MLP/Midstream Investment's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kayne Anderson MLP/Midstream Investment's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kayne Anderson MLP/Midstream Investment's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kayne Anderson MLP/Midstream Investment's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
BST:KA5 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-11-30) in USD $-1.01
NYSE:KYN Share Price ** NYSE (2020-03-30) in USD $3.24
Germany Capital Markets Industry PE Ratio Median Figure of 17 Publicly-Listed Capital Markets Companies 21.49x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kayne Anderson MLP/Midstream Investment.

BST:KA5 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:KYN Share Price ÷ EPS (both in USD)

= 3.24 ÷ -1.01

-3.22x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kayne Anderson MLP/Midstream Investment is loss making, we can't compare its value to the DE Capital Markets industry average.
  • Kayne Anderson MLP/Midstream Investment is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Kayne Anderson MLP/Midstream Investment's expected growth come at a high price?
Raw Data
BST:KA5 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -3.22x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 0 Analysts
Not available
Germany Capital Markets Industry PEG Ratio Median Figure of 7 Publicly-Listed Capital Markets Companies 1.63x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Kayne Anderson MLP/Midstream Investment, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Kayne Anderson MLP/Midstream Investment's assets?
Raw Data
BST:KA5 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-11-30) in USD $13.89
NYSE:KYN Share Price * NYSE (2020-03-30) in USD $3.24
Germany Capital Markets Industry PB Ratio Median Figure of 32 Publicly-Listed Capital Markets Companies 1.5x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
BST:KA5 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:KYN Share Price ÷ Book Value per Share (both in USD)

= 3.24 ÷ 13.89

0.23x

* Primary Listing of Kayne Anderson MLP/Midstream Investment.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kayne Anderson MLP/Midstream Investment is good value based on assets compared to the DE Capital Markets industry average.
X
Value checks
We assess Kayne Anderson MLP/Midstream Investment's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Capital Markets industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Capital Markets industry average (and greater than 0)? (1 check)
  5. Kayne Anderson MLP/Midstream Investment has a total score of 3/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Kayne Anderson MLP/Midstream Investment expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Kayne Anderson MLP/Midstream Investment has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by Simply Wall St do have past financial data. You can see them here.

Show me the analysis anyway

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
40.9%
Expected Capital Markets industry annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kayne Anderson MLP/Midstream Investment expected to grow at an attractive rate?
  • Unable to compare Kayne Anderson MLP/Midstream Investment's earnings growth to the low risk savings rate as no estimate data is available.
Growth vs Market Checks
  • Unable to compare Kayne Anderson MLP/Midstream Investment's earnings growth to the Germany market average as no estimate data is available.
  • Unable to compare Kayne Anderson MLP/Midstream Investment's revenue growth to the Germany market average as no estimate data is available.
Annual Growth Rates Comparison
Raw Data
BST:KA5 Future Growth Rates Data Sources
Data Point Source Value (per year)
Germany Capital Markets Industry Earnings Growth Rate Market Cap Weighted Average 40.9%
Germany Capital Markets Industry Revenue Growth Rate Market Cap Weighted Average 1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
BST:KA5 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
BST:KA5 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
BST:KA5 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-11-30 49 309 -127
2019-08-31 53 262 -276
2019-05-31 43 207 -85
2019-02-28 30 230 83
2018-11-30 25 189 229
2018-08-31 21 162 453
2018-05-31 11 291 240
2018-02-28 18 275 -160
2017-11-30 21 267 -159
2017-08-31 21 338 -7
2017-05-31 8 275 219
2017-02-28 11 267 970

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Unable to determine if Kayne Anderson MLP/Midstream Investment is high growth as no earnings estimate data is available.
  • Unable to determine if Kayne Anderson MLP/Midstream Investment is high growth as no revenue estimate data is available.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
BST:KA5 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below

All data from Kayne Anderson MLP/Midstream Investment Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:KA5 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
BST:KA5 Past Financials Data
Date (Data in USD Millions) EPS *
2019-11-30 -1.01
2019-08-31 -2.19
2019-05-31 -0.68
2019-02-28 0.68
2018-11-30 1.93
2018-08-31 3.91
2018-05-31 2.09
2018-02-28 -1.39
2017-11-30 -1.39
2017-08-31 -0.06
2017-05-31 1.93
2017-02-28 8.56

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Kayne Anderson MLP/Midstream Investment will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Kayne Anderson MLP/Midstream Investment's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kayne Anderson MLP/Midstream Investment has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Kayne Anderson MLP/Midstream Investment performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kayne Anderson MLP/Midstream Investment's growth in the last year to its industry (Capital Markets).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kayne Anderson MLP/Midstream Investment does not make a profit even though their year on year earnings growth rate was positive over the past 5 years.
  • Unable to compare Kayne Anderson MLP/Midstream Investment's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Kayne Anderson MLP/Midstream Investment's 1-year growth to the DE Capital Markets industry average as it is not currently profitable.
Earnings and Revenue History
Kayne Anderson MLP/Midstream Investment's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kayne Anderson MLP/Midstream Investment Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

BST:KA5 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-11-30 48.80 -127.05 49.49
2019-08-31 52.58 -276.45 51.48
2019-05-31 42.96 -84.65 52.86
2019-02-28 29.87 83.22 52.77
2018-11-30 25.41 228.80 52.51
2018-08-31 21.26 453.08 51.75
2018-05-31 10.50 239.80 51.62
2018-02-28 18.03 -159.55 53.62
2017-11-30 20.85 -159.13 55.84
2017-08-31 20.65 -6.94 57.33
2017-05-31 7.83 219.15 57.72
2017-02-28 11.25 970.02 55.39
2016-11-30 11.41 253.58 53.81
2016-08-31 19.77 -363.17 56.81
2016-05-31 54.95 -1,237.25 63.32
2016-02-29 62.37 -1,799.41 74.38
2015-11-30 72.55 -1,653.10 85.73
2015-08-31 68.93 -1,511.43 95.21
2015-05-31 64.00 -250.93 101.51
2015-02-28 57.29 102.80 102.26
2014-11-30 49.23 522.98 100.05
2014-08-31 48.15 1,138.04 94.62
2014-05-31 44.35 660.40 88.07
2014-02-28 42.46 567.54 82.46
2013-11-30 40.00 736.47 76.98
2013-08-31 38.87 582.20 71.70
2013-05-31 35.25 763.26 66.82

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Kayne Anderson MLP/Midstream Investment has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Kayne Anderson MLP/Midstream Investment has efficiently used its assets last year compared to the DE Capital Markets industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Kayne Anderson MLP/Midstream Investment improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Kayne Anderson MLP/Midstream Investment's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Capital Markets industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kayne Anderson MLP/Midstream Investment has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Kayne Anderson MLP/Midstream Investment's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kayne Anderson MLP/Midstream Investment's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kayne Anderson MLP/Midstream Investment's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Kayne Anderson MLP/Midstream Investment's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Kayne Anderson MLP/Midstream Investment's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kayne Anderson MLP/Midstream Investment Company Filings, last reported 4 months ago.

BST:KA5 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-11-30 1,755.22 1,005.48 2.00
2019-08-31 1,980.03 1,080.13 2.00
2019-05-31 2,085.76 1,079.77 2.00
2019-02-28 2,116.06 1,089.38 2.00
2018-11-30 2,066.27 1,128.00 2.00
2018-08-31 2,450.15 1,145.60 1.50
2018-05-31 2,158.33 1,003.65 2.00
2018-02-28 2,022.21 1,034.28 2.00
2017-11-30 1,826.17 1,033.92 2.00
2017-08-31 1,977.17 1,033.56 2.00
2017-05-31 2,105.14 1,105.20 1.23
2017-02-28 2,367.64 1,119.81 0.53
2016-11-30 2,180.78 1,110.00 1.10
2016-08-31 2,189.50 1,171.00 2.00
2016-05-31 2,101.02 1,171.00 2.00
2016-02-29 1,622.54 1,171.00 4.10
2015-11-30 2,141.60 1,495.00 147.74
2015-08-31 2,775.87 1,805.00 207.91
2015-05-31 3,571.19 1,880.00 33.99
2015-02-28 3,652.76 1,959.00 73.19
2014-11-30 4,026.82 2,010.00 1.52
2014-08-31 4,511.23 2,025.00 3.62
2014-05-31 4,043.44 1,922.00 1.74
2014-02-28 3,778.47 1,649.00 110.54
2013-11-30 3,443.92 1,693.00 0.26
2013-08-31 3,291.34 1,587.00 2.41
2013-05-31 3,071.98 1,452.00 5.84
  • Kayne Anderson MLP/Midstream Investment's level of debt (57.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (50% vs 57.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Kayne Anderson MLP/Midstream Investment has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Kayne Anderson MLP/Midstream Investment has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -25.7% per year.
X
Financial health checks
We assess Kayne Anderson MLP/Midstream Investment's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kayne Anderson MLP/Midstream Investment has a total score of 2/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Kayne Anderson MLP/Midstream Investment's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
44.44%
Current annual income from Kayne Anderson MLP/Midstream Investment dividends.
If you bought €2,000 of Kayne Anderson MLP/Midstream Investment shares you are expected to receive €889 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Kayne Anderson MLP/Midstream Investment's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • Kayne Anderson MLP/Midstream Investment's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Upcoming dividend payment

Purchase Kayne Anderson MLP/Midstream Investment before the 'Ex-dividend' to receive their next dividend payment.

Dividends are usually paid every 3 or 6 months, you can time your share purchase to take advantage of upcoming dividend payments.
Dividend payment calendar
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
BST:KA5 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 0 Analyst Estimates (S&P Global) See Below
Germany Capital Markets Industry Average Dividend Yield Market Cap Weighted Average of 15 Stocks 3.4%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

BST:KA5 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
BST:KA5 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-12-18 1.440 16.941
2019-10-03 1.440 10.961
2019-06-27 1.440 9.742
2019-03-28 1.440 9.238
2018-12-17 1.440 9.402
2018-09-28 1.800 10.959
2018-09-10 1.800 9.942
2018-06-28 1.800 9.574
2018-03-29 1.800 9.941
2017-12-18 1.800 9.901
2017-09-29 1.800 11.156
2017-06-30 1.800 10.023
2017-04-03 1.800 9.339
2016-12-15 2.200 10.794
2016-01-29 2.523 14.129
2015-09-17 2.630 14.552
2015-06-18 2.630 9.262
2015-03-11 2.630 7.643
2014-12-17 2.620 7.280
2014-09-19 2.600 6.667
2014-06-18 2.560 6.515
2014-03-14 2.500 6.754
2013-12-16 2.440 6.503
2013-09-19 2.380 6.578
2013-06-19 2.320 6.412
2013-03-21 2.260 6.292
2012-12-12 2.200 6.730
2012-09-21 2.150 6.946
2012-06-13 2.110 6.937
2012-03-22 2.070 6.977
2011-12-14 2.040 6.588
2011-09-23 2.010 7.180
2011-06-16 1.990 7.004
2011-03-24 1.960 6.547
2010-12-16 1.940 6.359
2010-09-23 1.920 7.056
2010-06-16 1.920 7.399
2010-03-12 1.920 7.340
2009-12-16 1.920 7.851
2009-09-18 1.920 8.456
2009-06-17 1.920 9.307

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have fallen over the past 10 years.
Current Payout to shareholders
What portion of Kayne Anderson MLP/Midstream Investment's earnings are paid to the shareholders as a dividend.
  • The company is paying a dividend however it is incurring a loss.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Kayne Anderson MLP/Midstream Investment's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kayne Anderson MLP/Midstream Investment afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kayne Anderson MLP/Midstream Investment has a total score of 2/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Kayne Anderson MLP/Midstream Investment's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jim Baker
COMPENSATION $0
AGE 47
TENURE AS CEO 0.7 years
CEO Bio

Mr. James C. Baker, also known as Jim, has been Chief Executive Officer at Kayne Anderson MLP/Midstream Investment Company (KYN) and Kayne Anderson Midstream/Energy Fund Inc (KMF) since July 1, 2019 and serves as its Director. Mr. Baker is the Chief Executive Officer and Trustee of Kayne Anderson Income Strategies Fund since inception in July 2019. He served as Executive Vice President of Kayne Anderson MLP Investment Company from June 2008 to June 2016 and Kayne Anderson Midstream/Energy Fund, Inc. (KMF) from August 2010 to June 2016. He was and as Vice President of KYN from June 2005 to June 2008. Mr. Baker was President of Kayne Anderson MLP/Midstream Investment Company from June 2016 to July 2019. He is a Partner and Senior Managing Director at Kayne Anderson Capital Advisors, L.P. He was previously a Partner at the firm. He is a part of the Energy Marketable Securities Team of the firm. Prior to joining Kayne Anderson in 2004, he was a Director in the energy investment banking group at UBS Securities LLC, where he focused on securities underwriting and mergers and acquisitions in the master limited partnerships industry. Mr. Baker previously served on the boards of directors of K-Sea Transportation Partners L.P., Petris Technology, Inc., and ProPetro Services, Inc. Prior to joining UBS in 2000, Mr. Baker was an Associate in the energy investment banking group at PaineWebber Incorporated. He has earned an M.B.A. in Finance from the Southern Methodist University in 1997 and a B.B.A. in Finance from the University of Texas at Austin in 1995.

CEO Compensation
  • Insufficient data for Jim to compare compensation growth.
  • Insufficient data for Jim to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Kayne Anderson MLP/Midstream Investment management team in years:

6.8
Average Tenure
50.5
Average Age
  • The average tenure for the Kayne Anderson MLP/Midstream Investment management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Jim Baker

TITLE
President
AGE
47
TENURE
0.7 yrs

Bob Sinnott

TITLE
Co-Chairman of Kayne Anderson Capital Advisors LP
AGE
70

Terry Hart

TITLE
Treasurer
AGE
50
TENURE
14.3 yrs

Monique Vo

TITLE
VP, Investor Relations

Michael O'Neil

TITLE
Chief Compliance Officer
AGE
36
TENURE
6.3 yrs

J.C. Frey

TITLE
Executive Vice President
AGE
51
TENURE
11.7 yrs

Jody Meraz

TITLE
Senior Vice President
AGE
41

Ron Logan

TITLE
Senior Vice President
AGE
59
TENURE
7.4 yrs

Jarvis Hollingsworth

TITLE
Secretary
AGE
57
TENURE
1.2 yrs

David Labonte

TITLE
Partner & Senior Research Analyst of Kayne & erson Capital Advisors LP
Board of Directors Tenure

Average tenure and age of the Kayne Anderson MLP/Midstream Investment board of directors in years:

1.6
Average Tenure
70
Average Age
  • The average tenure for the Kayne Anderson MLP/Midstream Investment board of directors is less than 3 years, this suggests a new board.
Board of Directors

Kevin McCarthy

TITLE
Chairman of the Board
AGE
60
TENURE
16.2 yrs

Jim Baker

TITLE
President
AGE
47

Ric Kayne

TITLE
Chairman of Kayne Anderson
AGE
74

Bill Cordes

TITLE
Independent Director
COMPENSATION
$122K
AGE
71
TENURE
1.6 yrs

Anne Costin

TITLE
Independent Director
COMPENSATION
$115K
AGE
69
TENURE
16.2 yrs

Bill Shea

TITLE
Independent Director
COMPENSATION
$111K
AGE
65
TENURE
12 yrs

Barry Pearl

TITLE
Independent Director
COMPENSATION
$115K
AGE
70
TENURE
1.6 yrs

Albert Richey

TITLE
Independent Director
COMPENSATION
$115K
AGE
70
TENURE
1.6 yrs

Bill Thacker

TITLE
Independent Director
COMPENSATION
$112K
AGE
74
TENURE
1.6 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
26. Dec 19 Buy James Baker Individual 23. Dec 19 23. Dec 19 50,000 €12.77 €638,474
27. Aug 19 Buy Albert Richey Individual 23. Aug 19 23. Aug 19 5,000 €12.48 €62,390
01. Jul 19 Buy James Baker Individual 28. Jun 19 28. Jun 19 20,000 €13.41 €268,240
27. Jun 19 Buy William Thacker Individual 20. Jun 19 20. Jun 19 5,304 €13.46 €71,417
24. May 19 Buy James Baker Individual 22. May 19 22. May 19 40,000 €14.19 €567,790
X
Management checks
We assess Kayne Anderson MLP/Midstream Investment's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kayne Anderson MLP/Midstream Investment has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Kayne Anderson MLP Investment Company is a closed ended equity mutual fund launched and managed by KA Fund Advisors, LLC. It is co-managed by Kayne Anderson Capital Advisors, L.P. The fund invests in the public equity markets of the United States. It invests in stocks of companies operating in the energy sector. The fund primarily invests in energy-related master limited partnerships. Kayne Anderson MLP Investment Company was formed on June 4, 2004 and is domiciled in the United States.

Details
Name: Kayne Anderson MLP/Midstream Investment Company
KA5
Exchange: BST
Founded: 2004
$371,018,750
126,337,114
Website: http://www.kaynefunds.com/kyn/fact-sheet/
Address: Kayne Anderson MLP/Midstream Investment Company
811 Main Street,
14th Floor,
Houston,
Texas, 77002,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE KYN Common Stock New York Stock Exchange US USD 28. Sep 2004
BST KA5 Common Stock Boerse-Stuttgart DE EUR 28. Sep 2004
LSE 0A1J Common Stock London Stock Exchange GB USD 28. Sep 2004
Number of employees
Current staff
Staff numbers
0
Kayne Anderson MLP/Midstream Investment employees.
Industry
Asset Management and Custody Banks
Diversified Financials
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 00:01
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2019/01/25
Last earnings filing: 2020/01/29
Last earnings reported: 2019/11/30
Last annual earnings reported: 2019/11/30


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.