Kayne Anderson Energy Development Co. (KED) Reaches $16.63 52 Week Low, Last Week Newalta (TSE:NAL) Coverage

June 20, 2017 - By marketbeat

Among 5 analysts covering Newalta Corporation (TSE:NAL), 2 have Buy rating, 0 Sell and 3 Hold. Therefore 40% are positive. Newalta Corporation had 25 analyst reports since July 21, 2015 according to SRatingsIntel. The rating was downgraded by Stifel Nicolaus to “Hold” on Tuesday, January 19. The firm earned “Outperform” rating on Friday, August 7 by Scotia Capital. National Bank Canada maintained it with “Outperform” rating and $2.90 target in Friday, June 3 report. TD Securities maintained Newalta Corporation (TSE:NAL) on Friday, November 11 with “Hold” rating. As per Friday, August 7, the company rating was maintained by TD Securities. The rating was downgraded by National Bank Canada on Thursday, November 5 to “Sector Perform”. The stock of Newalta Corporation (TSE:NAL) earned “Buy” rating by Stifel Nicolaus on Wednesday, August 19. The rating was maintained by RBC Capital Markets on Tuesday, November 17 with “Outperform”. The firm has “Sector Outperform” rating given on Tuesday, July 21 by Scotia Capital. The firm earned “Outperform” rating on Friday, February 24 by Scotia Capital. See Newalta Corporation (TSE:NAL) latest ratings:

24/02/2017 Broker: Scotia Capital Rating: Outperform New Target: $4.00 Maintain
20/01/2017 Broker: National Bank Canada Rating: Old Target: $2.00 New Target: $2.50 Target Up

The stock of Kayne Anderson Energy Development Co. (NYSE:KED) hit a new 52-week low and has $15.13 target or 9.00% below today’s $16.63 share price. The 9 months bearish chart indicates high risk for the $178.33M company. The 1-year low was reported on Jun, 20 by Barchart.com. If the $15.13 price target is reached, the company will be worth $16.05 million less. The stock decreased 3.59% or $0.62 on June 20, reaching $16.63. About 114,935 shares traded or 205.60% up from the average. Kayne Anderson Energy Development Co. (NYSE:KED) has declined 0.59% since June 20, 2016 and is downtrending. It has underperformed by 17.29% the S&P500.

About 708,196 shares traded or 684.06% up from the average. Newalta Corporation (TSE:NAL) has 0.00% since June 20, 2016 and is . It has underperformed by 16.70% the S&P500.

Newalta Corporation is a Canada-based well-known provider of engineered environmental solutions to the gas and oil industry. The company has market cap of $142.80 million. The Company’s divisions include Heavy Oil and Oilfield. It currently has negative earnings. The Company’s Heavy Oil segment processes oilfield-generated wastes, including treatment, water disposal, salt cavern disposal, landfilling, and the sale of recovered crude oil.

Kayne Anderson Energy Development Company is a non-diversified, closed-end fund. The company has market cap of $178.33 million. The Fund’s investment objective is to generate both current income and capital appreciation, through equity and debt investments. It has a 2.16 P/E ratio. 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.