UPDATE: Stifel Reiterates On Kayne Anderson Energy Development Co. As VantaCore Transaction Closes
In a report published Wednesday, Stifel analyst Selman Akyol reiterated a Buy rating on Kayne Anderson Energy Development Co. (NYSE: KED), but lowered the price target from $41.50 to $40.00.
In the report, Stifel noted, “KED's final private investment, VantaCore Partners LP, was acquired by Natural Resource Partners LP (NRP, $12.75, Hold, covered by our colleague Paul Forward) on October 1st. As a result of the transaction KED received approximately 2 million shares of NRP. Although we expect KED to seek additional private investments, given the robust performance from MLPs and low rate environment, opportunities are likely limited. At this time, we are maintaining our Buy rating and adjusting our target price to $40.00.”
Kayne Anderson Energy Development Co. closed on Tuesday at $35.98.
Latest Ratings for KED
Date | Firm | Action | From | To |
---|---|---|---|---|
Nov 2016 | Stifel Nicolaus | Upgrades | Hold | Buy |
Feb 2016 | Ladenburg Thalmann | Downgrades | Buy | Neutral |
Nov 2015 | Stifel Nicolaus | Downgrades | Buy | Hold |
View More Analyst Ratings for KED
View the Latest Analyst Ratings
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Posted-In: Selman Akyol StifelAnalyst Color Price Target Analyst Ratings