Kayne Anderson Energy Development Co. (NYSE:KED) Given $29.00 Average Target Price by Brokerages
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 research analysts have rated the stock with a hold rating.
Brokerages have set a 12 month consensus price target of $29.00 for the company and are forecasting that the company will post $1.40 EPS for the current quarter, according to Zacks. Zacks has also given Kayne Anderson Energy Development an industry rank of 32 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 research report on Tuesday, August 23rd.
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Institutional investors have recently added to or reduced their stakes in the stock. Atria Investments LLC purchased a new position in Kayne Anderson Energy Development during the second quarter valued at $1,299,000. UBS Group AG increased its position in shares of 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 worth $3,292,000 after buying an additional 48,213 shares in the last quarter. Sit Investment Associates Inc. increased its position in shares of 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 worth $1,729,000 after buying an additional 20,205 shares in the last quarter. Kayne Anderson Capital Advisors LP bought a new position in shares of Kayne Anderson Energy Development during the second quarter worth approximately $356,000. Finally, LPL Financial LLC increased its position in shares of 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 worth $1,599,000 after buying an additional 16,892 shares in the last quarter.
Shares of Kayne Anderson Energy Development (NYSE:KED) traded up 1.19% during trading on Monday, hitting $18.75. 9,161 shares of the company traded hands. The company has a 50-day moving average of $18.62 and a 200-day moving average of $18.18. Kayne Anderson Energy Development has a 52-week low of $9.86 and a 52-week high of $24.87.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Shareholders of record on Friday, October 7th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 10.36%. The ex-dividend date is 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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