Kayne Anderson Energy Development Co. (NYSE:KED) has earned an average broker rating score of 3.00 (Hold) from the two analysts that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a hold rating.
Brokerages have set a one year consensus price objective of $29.00 for the company and are anticipating that the company will post $1.40 EPS for the current quarter, according to Zacks. Zacks has also assigned Kayne Anderson Energy Development an industry rank of 27 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research upgraded Kayne Anderson Energy Development from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a report on Wednesday, June 29th.
Large investors have recently added to or reduced their stakes in the company. UBS Group AG boosted its stake in Kayne Anderson Energy Development by 32.3% in the first quarter. UBS Group AG now owns 197,266 shares of the investment management company’s stock valued at $3,292,000 after buying an additional 48,213 shares during the period. LPL Financial LLC boosted its stake in Kayne Anderson Energy Development by 19.8% in the first quarter. LPL Financial LLC now owns 102,325 shares of the investment management company’s stock valued at $1,599,000 after buying an additional 16,892 shares during the period. Sit Investment Associates Inc. boosted its stake in Kayne Anderson Energy Development by 29.3% in the second quarter. Sit Investment Associates Inc. now owns 89,078 shares of the investment management company’s stock valued at $1,729,000 after buying an additional 20,205 shares during the period. Atria Investments LLC acquired a new stake in Kayne Anderson Energy Development during the second quarter valued at $1,299,000. Finally, Cambridge Investment Research Advisors Inc. boosted its stake in Kayne Anderson Energy Development by 11.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 23,652 shares of the investment management company’s stock valued at $459,000 after buying an additional 2,405 shares during the period.
Kayne Anderson Energy Development (NYSE:KED) opened at 18.68 on Monday. The company’s 50 day moving average price is $18.57 and its 200 day moving average price is $18.26. Kayne Anderson Energy Development has a 12 month low of $9.86 and a 12 month high of $23.37.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 14th. Shareholders of record on Friday, October 7th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.28%. The ex-dividend date was Wednesday, October 5th.
About Kayne Anderson Energy Development
Kayne Anderson Energy Development Company is a non-diversified, closed-end fund. The Fund’s investment objective is to generate both current income and capital appreciation primarily through equity and debt investments. It seeks to achieve this objective by investing approximately 80% of its total assets in securities of companies that derive their revenue from activities in the energy industry, including Upstream Energy Companies, which are engaged in the exploration, extraction and production of natural resources, including natural gas and gas liquids and crude oil, from geological reservoirs; Midstream Energy Companies, which are businesses that operate assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, propane, crude oil or refined petroleum products, and Other Energy Companies, which are businesses engaged in owning, producing, processing and selling of coal and coal reserves.
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