Steward Partners Investment Advisory LLC Takes Position in Kayne Anderson Energy Development Co. (NYSE:KED)

Steward Partners Investment Advisory LLC bought a new position in Kayne Anderson Energy Development Co. (NYSE:KED) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,957 shares of the investment management company’s stock, valued at approximately $276,000. Steward Partners Investment Advisory LLC owned about 0.15% of Kayne Anderson Energy Development as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its stake in Kayne Anderson Energy Development by 1.6% in the second quarter. Janney Montgomery Scott LLC now owns 15,245 shares of the investment management company’s stock worth $276,000 after acquiring an additional 241 shares during the period. Legal & General Group Plc lifted its position in Kayne Anderson Energy Development by 9.0% during the second quarter. Legal & General Group Plc now owns 25,988 shares of the investment management company’s stock valued at $471,000 after buying an additional 2,137 shares during the period. TSP Capital Management Group LLC lifted its position in 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 buying an additional 325 shares during the period. Ameriprise Financial Inc. lifted its position in Kayne Anderson Energy Development by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 18,280 shares of the investment management company’s stock valued at $331,000 after buying an additional 2,174 shares during the period. Finally, Advisor Group Inc. lifted its position in Kayne Anderson Energy Development by 41.6% during the second quarter. Advisor Group Inc. now owns 46,988 shares of the investment management company’s stock valued at $852,000 after buying an additional 13,794 shares during the period.

Separately, Stifel Nicolaus reaffirmed a “buy” rating and issued a $20.00 price target on shares of Kayne Anderson Energy Development in a research report on Friday, October 13th.

Kayne Anderson Energy Development Co. (NYSE:KED) traded up $0.20 during trading on Thursday, hitting $17.91. The company’s stock had a trading volume of 94,340 shares, compared to its average volume of 71,730. The company has a market cap of $190.45, a P/E ratio of -255.86 and a beta of 1.27. Kayne Anderson Energy Development Co. has a 1-year low of $14.10 and a 1-year high of $20.46.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 12th. Shareholders of record on Friday, January 5th will be paid a dividend of $0.40 per share. The ex-dividend date is Thursday, January 4th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 8.93%. Kayne Anderson Energy Development’s dividend payout ratio is currently -2,285.71%.

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Kayne Anderson Energy Development 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.

Institutional Ownership by Quarter for Kayne Anderson Energy Development (NYSE:KED)

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