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Top 5 1st Quarter Trades of KAYNE ANDERSON CAPITAL ADVISORS LP

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May 11, 2022
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KAYNE ANDERSON CAPITAL ADVISORS LP recently filed their 13F report for the first quarter of 2022, which ended on 2022-03-31.

The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.

Kayne Anderson Capital Advisors is an alternative investment firm that was founded in 1984. The company’s principals include “a disciplined investment approach, employing high-quality people, partnering with the highest standards of excellence and aligning our interests with those of our investors and partners and translating that into attractive investment growth.” Kayne Anderson Capital Advisors focuses on narrow market segments whose size and complexity are barriers of entry to other investment firms in order to exploit the niche markets to be able to create its investment returns. The company utilizes a fundamental analysis with a bottom up stock picking approach to make is investment decisions, also obtaining research externally. Kayne Anderson Capital Advisors focuses its investments in the energy sector, which alone makes up over 80% of its total investment allocations, and specializes in energy marketable securities, growth private equity, upstream energy private equity, middle market credit, municipal opportunities, and real estate private equity. Within the energy sector, Kayne Anderson Capital Advisors focuses on investing in small to mid-cap companies, oil and gas exploration and product companies, energy infrastructure, oilfield services, and energy technology companies. The company also invests in the utilities and telecommunications sectors with further asset allocation in the transports, materials, industrials, and information technology sectors to a lesser degree, in order of decreasing amount allocated. Kayne Anderson Capital Advisors has approximately 300 investment professionals located in 8 offices across the U.S. The majority of its clients are pooled investment vehicles, which alone makes up approximately two thirds of its entire client base, and also includes high net worth individuals, pension and profit sharing plans, charities, investment companies, corporations, state or municipal entities, and insurance companies, in order of decreasing clientele. Its mutual fund offerings include the MLP & Energy Income, Transamerica High Yield Bond, Money Market, and Emerging Markets Equity, among many others.

As of the latest 13F report, the guru’s equity portfolio contained 99 stocks valued at a total of $4,161,000,000. The top holdings were TRGP(8.27%), EPD(6.72%), and WMB(6.69%).

According to GuruFocus data, these were KAYNE ANDERSON CAPITAL ADVISORS LP’s top five trades of the quarter.

Phillips 66 Partners LP


The guru sold out of their 748,461-share investment in NYSE:PSXP. Previously, the stock had a 0.81% weight in the equity portfolio. Shares traded for an average price of $42.61 during the quarter.

On 05/11/2022, Phillips 66 Partners LP traded for a price of $42.01 per share and a market cap of $9,592,570,000. The stock has returned 45.40% over the past year.

There is insufficient data to calculate the stock’s financial strength and profitability ratings.

In terms of valuation, Phillips 66 Partners LP has a price-earnings ratio of 14.14, a price-book ratio of 3.61, a EV-to-Ebitda ratio of 12.79 and a price-sales ratio of 8.37.

Cheniere Energy Inc


During the quarter, KAYNE ANDERSON CAPITAL ADVISORS LP bought 222,225 shares of AMEX:LNG for a total holding of 1,315,176. The trade had a 0.74% impact on the equity portfolio. During the quarter, the stock traded for an average price of $121.3.

On 05/11/2022, Cheniere Energy Inc traded for a price of $132.38 per share and a market cap of $35,461,219,000. The stock has returned 61.72% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 5 out of 10.

In terms of valuation, Cheniere Energy Inc has a EV-to-Ebitda ratio of -44.62 and a price-sales ratio of 1.74.

The price-to-GF Value ratio is 0.89, earning the stock a GF Value rank of 6.

Algonquin Power & Utilities Corp


The guru sold out of their 1,677,755-share investment in NYSE:AQN. Previously, the stock had a 0.72% weight in the equity portfolio. Shares traded for an average price of $14.41 during the quarter.

On 05/11/2022, Algonquin Power & Utilities Corp traded for a price of $13.45 per share and a market cap of $9,169,835,000. The stock has returned -10.38% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Algonquin Power & Utilities Corp has a price-earnings ratio of 34.06, a price-book ratio of 1.62, a price-earnings-to-growth (PEG) ratio of 8.52, a EV-to-Ebitda ratio of 21.05 and a price-sales ratio of 3.86.

The price-to-GF Value ratio is 0.80, earning the stock a GF Value rank of 10.

Xcel Energy Inc


During the quarter, KAYNE ANDERSON CAPITAL ADVISORS LP bought 397,950 shares of NAS:XEL for a total holding of 848,525. The trade had a 0.69% impact on the equity portfolio. During the quarter, the stock traded for an average price of $68.68.

On 05/11/2022, Xcel Energy Inc traded for a price of $73.96 per share and a market cap of $40,696,246,000. The stock has returned 3.80% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 7 out of 10.

In terms of valuation, Xcel Energy Inc has a price-earnings ratio of 25.00, a price-book ratio of 2.57, a price-earnings-to-growth (PEG) ratio of 8.93, a EV-to-Ebitda ratio of 14.15 and a price-sales ratio of 2.96.

The price-to-GF Value ratio is 1.02, earning the stock a GF Value rank of 6.

Shell Midstream Partners LP


The guru sold out of their 1,840,356-share investment in NYSE:SHLX. Previously, the stock had a 0.63% weight in the equity portfolio. Shares traded for an average price of $13.39 during the quarter.

On 05/11/2022, Shell Midstream Partners LP traded for a price of $13.73 per share and a market cap of $5,548,795,000. The stock has returned -2.37% over the past year.

GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 8 out of 10.

In terms of valuation, Shell Midstream Partners LP has a price-earnings ratio of 10.87, a EV-to-Ebitda ratio of 10.96 and a price-sales ratio of 10.85.

The price-to-GF Value ratio is 1.28, earning the stock a GF Value rank of 3.


Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.

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