This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Kayne Anderson Energy Development Company Announces Results For The Quarter Ended February 28, 2010

The Company had a net change in unrealized gains of $4.7 million. This net change in unrealized gains consisted of $7.4 million of unrealized gains from investments that were partially offset by a deferred tax expense of $2.7 million. The majority of these gains are attributable to the Company’s publicly traded MLPs, its investment in debt securities and the Direct Fuels’ preferred unit distribution.

The Company had an increase in net assets resulting from operations of $7.7 million. This increase is composed of the net unrealized gains of $4.7 million; net realized gains of $3.2 million and a net investment loss of $0.2 million.


As of February 28, 2010, the Company had long-term investments of $210.8 million. The Company’s long-term investments consisted of 46 portfolio companies, which were comprised of approximately 45% in private MLPs, 34% in public MLPs and 21% in energy debt securities.


As of February 28, 2010, the Company’s net asset value was $173.6 million or $17.03 per share. This represents an increase of $0.45 per share or 2.7% compared to $168.5 million or $16.58 per share on November 30, 2009. As of February 28, 2010, the total cost basis of the Company's investments exceeds the fair value reflected on the Statement of Assets and Liabilities. This difference, combined with capital and net operating losses, results in a deferred tax asset of $15.7 million, or approximately $1.54 per share.


As of February 28, 2010, the Company had approximately $11.3 million invested in short-term repurchase agreements. The repurchase agreements are collateralized by U.S. Treasury bonds.

As previously disclosed on March 30, 2010, the Company refinanced its existing senior secured revolving credit facility (the “Existing Credit Facility”) with a new senior secured revolving credit facility (the “New Credit Facility”). The New Credit Facility has availability of $70 million and a three year commitment maturing on March 30, 2013.

2 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
KED $10.84 0.84%
AAPL $94.79 -0.21%
FB $101.81 2.30%
GOOG $686.53 1.20%
TSLA $146.22 -1.40%


Chart of I:DJI
DOW 15,970.51 -43.87 -0.27%
S&P 500 1,866.13 +13.92 0.75%
NASDAQ 4,324.7630 +56.00 1.31%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs