Kayne Anderson Energy Development Co. (NYSE:KED)‘s stock had its “buy” rating restated by analysts at Stifel Nicolaus in a research note issued on Sunday. They currently have a $20.00 target price on the investment management company’s stock. Stifel Nicolaus’ price objective suggests a potential upside of 22.17% from the stock’s current price.

Separately, Zacks Investment Research lowered Kayne Anderson Energy Development from a “hold” rating to a “sell” rating in a report on Thursday, July 20th.

Kayne Anderson Energy Development (KED) opened at 16.37 on Friday. The company has a 50-day moving average price of $16.81 and a 200-day moving average price of $18.18. Kayne Anderson Energy Development has a 12-month low of $15.71 and a 12-month high of $20.46.

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A number of institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. grew its holdings in Kayne Anderson Energy Development by 41.6% in the second quarter. Advisor Group Inc. now owns 46,988 shares of the investment management company’s stock valued at $852,000 after purchasing an additional 13,794 shares during the period. Ameriprise Financial Inc. grew its holdings in Kayne Anderson Energy Development by 13.5% in the second quarter. Ameriprise Financial Inc. now owns 18,280 shares of the investment management company’s stock valued at $331,000 after purchasing an additional 2,174 shares during the period. TSP Capital Management Group LLC grew its holdings in Kayne Anderson Energy Development by 2.4% in the second quarter. TSP Capital Management Group LLC now owns 13,825 shares of the investment management company’s stock valued at $251,000 after purchasing an additional 325 shares during the period. Legal & General Group Plc grew its holdings in Kayne Anderson Energy Development by 9.0% in the second quarter. Legal & General Group Plc now owns 25,988 shares of the investment management company’s stock valued at $471,000 after purchasing an additional 2,137 shares during the period. Finally, Parkside Investments LLC grew its holdings in Kayne Anderson Energy Development by 22.8% in the second quarter. Parkside Investments LLC now owns 24,200 shares of the investment management company’s stock valued at $439,000 after purchasing an additional 4,500 shares during the period.

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, 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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