Salient MLP (NYSE:SMF) was upgraded by equities research analysts at Stifel Nicolaus from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, TheFlyOnTheWall.com reports. The firm currently has a $28.00 target price on the stock. Stifel Nicolaus’ price target points to a potential upside of 7.73% from the company’s current price.
The analysts wrote, “Salient MLP & Infrastructure Fund previously filed its quarterly report for the period ended August 31, 2013 highlighting the entirety of its holdings which produced NAV of $27.02 at that time. An updated NAV of $28.40 was provided as of November 29, 2013. The fund was trading at approximately 8.5% discount to its NAV at the close on December 6. The fund previously announced its 4Q13 dividend of $0.466/share. The increased dividend was paid on November 29th to common stockholders of record on November 19th. The 4Q13 dividend marks the 9th consecutive quarterly dividend increase since its IPO on May 25, 2011.”
Shares of Salient MLP (NYSE:SMF) traded up 0.77% on Monday, hitting $26.1899. 28,859 shares of the company’s stock traded hands. Salient MLP has a 52-week low of $23.40 and a 52-week high of $31.25. The stock’s 50-day moving average is $26.48 and its 200-day moving average is $27.57.
Separately, analysts at RBC Capital reiterated a “sector perform” rating on shares of Salient MLP in a research note to investors on Friday. They now have a $3.70 price target on the stock, up previously from $2.90.
Salient MLP and Energy Infrastructure Fund (NYSE:SMF), is an organized, non-diversified, closed-end management investment company.
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