Kayne Anderson Energy Development Co. (NYSE:KED)’s share price reached a new 52-week low on Friday . The company traded as low as $15.02 and last traded at $15.02, with a volume of 62150 shares. The stock had previously closed at $15.02.

A number of equities analysts recently weighed in on the company. Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Kayne Anderson Energy Development in a report on Friday, October 13th. Zacks Investment Research cut Kayne Anderson Energy Development from a “hold” rating to a “sell” rating in a report on Thursday, July 20th.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Monday, October 9th were issued a $0.40 dividend. The ex-dividend date of this dividend was Thursday, October 5th. This represents a $1.60 dividend on an annualized basis and a yield of 10.65%. Kayne Anderson Energy Development’s payout ratio is -2,285.71%.

Institutional investors have recently made changes to their positions in the business. TSP Capital Management Group LLC raised its holdings in shares of Kayne Anderson Energy Development by 2.4% during 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 acquiring an additional 325 shares during the last quarter. Lakeview Capital Partners LLC acquired a new position in shares of Kayne Anderson Energy Development during the third quarter valued at approximately $262,000. Janney Montgomery Scott LLC raised its holdings in shares of Kayne Anderson Energy Development by 1.6% during the second quarter. Janney Montgomery Scott LLC now owns 15,245 shares of the investment management company’s stock valued at $276,000 after acquiring an additional 241 shares during the last quarter. Ameriprise Financial Inc. acquired a new position in shares of Kayne Anderson Energy Development during the first quarter valued at approximately $314,000. Finally, Legal & General Group Plc raised its holdings in shares of Kayne Anderson Energy Development by 7.1% during the first quarter. Legal & General Group Plc now owns 23,851 shares of the investment management company’s stock valued at $465,000 after acquiring an additional 1,587 shares during the last quarter.

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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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