Kayne Anderson Energy Development Co. (KED) Receives Consensus Recommendation of “Strong Buy” from Brokerages
Kayne Anderson Energy Development Co. (NYSE:KED) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a strong buy rating.
Brokers have set a 12-month consensus price target of $20.00 for the company, according to Zacks. Zacks has also given Kayne Anderson Energy Development an industry rank of 238 out of 265 based on the ratings given to its competitors.
Separately, Stifel Nicolaus reaffirmed a “buy” rating and set a $20.00 price target on shares of Kayne Anderson Energy Development in a research report on Friday, October 13th.
Shares of Kayne Anderson Energy Development (KED) traded up $0.59 during mid-day trading on Friday, hitting $15.74. The stock had a trading volume of 113,506 shares, compared to its average volume of 62,800. Kayne Anderson Energy Development has a 1-year low of $14.10 and a 1-year high of $20.46.
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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