Kayne Anderson Energy Development Co. (NYSE:KED) was upgraded by investment analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued on Friday.

Separately, Zacks Investment Research lowered shares of Kayne Anderson Energy Development from a “buy” rating to a “hold” rating in a report on Tuesday, August 23rd.

Kayne Anderson Energy Development (NYSE:KED) opened at 19.08 on Friday. Kayne Anderson Energy Development has a one year low of $9.86 and a one year high of $20.47. The company has a 50-day moving average price of $18.53 and a 200-day moving average price of $18.55.

Hedge funds have recently modified their holdings of the stock. First Foundation Advisors bought a new stake in shares of Kayne Anderson Energy Development during the second quarter worth $201,000. Allegis Investment Advisors LLC bought a new stake in shares of Kayne Anderson Energy Development during the third quarter worth $203,000. Advisor Group Inc. bought a new stake in shares of Kayne Anderson Energy Development during the second quarter worth $214,000. TSP Capital Management Group LLC raised its stake in shares of Kayne Anderson Energy Development by 20.4% in the second quarter. TSP Capital Management Group LLC now owns 14,470 shares of the investment management company’s stock worth $281,000 after buying an additional 2,450 shares in the last quarter. Finally, Usca Ria LLC acquired a new position in shares of Kayne Anderson Energy Development during the second quarter worth about $323,000.

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.

5 Day Chart for NYSE:KED

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