Analysts Anticipate Kayne Anderson Energy Development Co. (NYSE:KED) to Post $1.40 Earnings Per Share
Kayne Anderson Energy Development Co. (NYSE:KED) has been assigned a consensus broker rating score of 3.00 (Hold) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a hold rating.
Brokers have set a one year consensus price target of $29.00 for the company and are anticipating that the company will post $1.40 earnings per share for the current quarter, according to Zacks. Zacks has also given Kayne Anderson Energy Development an industry rank of 39 out of 265 based on the ratings given to its competitors.
Separately, Zacks Investment Research downgraded Kayne Anderson Energy Development from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd.
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Shares of Kayne Anderson Energy Development (NYSE:KED) traded up 0.99% during trading on Wednesday, reaching $18.30. 6,174 shares of the company were exchanged. Kayne Anderson Energy Development has a one year low of $9.86 and a one year high of $25.52. The company has a 50 day moving average price of $18.47 and a 200-day moving average price of $17.86.
A number of large investors have recently made changes to their positions in KED. Atria Investments LLC acquired a new stake in shares of Kayne Anderson Energy Development during the second quarter valued at about $1,299,000. UBS Group AG boosted its position 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 last quarter. Sit Investment Associates Inc. boosted its position 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 last quarter. Kayne Anderson Capital Advisors LP purchased a new position in Kayne Anderson Energy Development during the second quarter valued at $356,000. Finally, LPL Financial LLC boosted its position 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 last quarter.
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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