TSX runs higher on rate cut expectations
Michael J. O'Neil, the Executive Vice President and Secretary of Kayne Anderson Energy Infrastructure Fund, Inc. (NYSE:KYN), recently acquired additional shares of the company. According to a recent SEC filing, O'Neil purchased 2,350 shares on April 7 at a price of $10.59 per share, totaling approximately $24,886. This purchase was made through The Michael J. O'Neil, Jr. and Katrina E. Nappa 2018 Trust. The timing is notable as the stock has recently declined nearly 12% over the past week, with shares now trading at $10.78. The $1.8 billion market cap fund currently offers an attractive 8.5% dividend yield and has maintained dividend payments for 19 consecutive years.
InvestingPro analysis reveals 8 additional key insights about KYN's financial health and market position.
Additionally, on April 4, O'Neil received 6,040 shares as part of an in-kind distribution from Kayne Anderson Capital Advisors, L.P., valued at $12.85 per share. This distribution was calculated based on a volume-weighted average price for the last 10 trading days of March. Following these transactions, O'Neil now holds a total of 8,390 shares indirectly through the trust. The fund trades at a P/E ratio of 1.95x and has delivered a positive one-year total return of 25.3%.
For comprehensive dividend analysis and valuation metrics, visit InvestingPro.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.