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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

Nov 2016Stifel NicolausUpgradesHoldBuy
Feb 2016Ladenburg ThalmannDowngradesBuyNeutral
Nov 2015Stifel NicolausDowngradesBuyHold

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