Kayne Anderson Energy Development Co. (NYSE:KED) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.

Separately, Stifel Nicolaus set a $23.00 target price on Kayne Anderson Energy Development and gave the stock a “buy” rating in a research report on Saturday, June 24th.

Shares of Kayne Anderson Energy Development (NYSE KED) traded down 0.40% on Thursday, reaching $17.54. 32,730 shares of the company’s stock were exchanged. The stock’s market cap is $188.08 million. Kayne Anderson Energy Development has a one year low of $16.42 and a one year high of $20.46. The company’s 50 day moving average is $17.67 and its 200-day moving average is $18.87.

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Several institutional investors have recently made changes to their positions in KED. Bank of America Corp DE raised its position in shares of Kayne Anderson Energy Development by 106.5% in the first quarter. Bank of America Corp DE now owns 62,688 shares of the investment management company’s stock valued at $1,222,000 after buying an additional 32,329 shares in the last quarter. Morgan Stanley raised its position in shares of Kayne Anderson Energy Development by 51.5% in the first quarter. Morgan Stanley now owns 211,248 shares of the investment management company’s stock valued at $4,117,000 after buying an additional 71,802 shares in the last quarter. Legal & General Group Plc raised its position in shares of Kayne Anderson Energy Development by 7.1% in the first quarter. Legal & General Group Plc now owns 23,851 shares of the investment management company’s stock valued at $465,000 after buying an additional 1,587 shares in the last quarter. Parkside Investments LLC purchased a new position in shares of Kayne Anderson Energy Development during the first quarter valued at approximately $384,000. Finally, TSP Capital Management Group LLC raised its position in shares of Kayne Anderson Energy Development by 3.8% in the first quarter. TSP Capital Management Group LLC now owns 13,500 shares of the investment management company’s stock valued at $263,000 after buying an additional 500 shares in the last quarter.

Kayne Anderson Energy Development Company Profile

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, 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 midstream energy companies, which operates assets used to gather, transport, process, treat, terminal and store natural gas, natural gas liquids, crude oil or refined petroleum products; upstream energy companies, which are engaged in the exploration, extraction and production of natural resources, including natural gas, natural gas liquids and crude oil, from onshore and offshore geological reservoirs, and other energy companies, which are engaged in owning, leasing, managing, producing, processing and selling of coal and coal reserves.

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