Kenon (NYSE:KEN) Shares Gap Up to $25.05

Posted by Defense World Staff on Jun 25th, 2023

Kenon Holdings Ltd. (NYSE:KEN – Get Rating)’s share price gapped up before the market opened on Friday . The stock had previously closed at $25.05, but opened at $26.21. Kenon shares last traded at $25.34, with a volume of 321 shares.

Analyst Ratings Changes

Several research firms recently weighed in on KEN. TheStreet lowered shares of Kenon from a “b” rating to a “c+” rating in a research note on Tuesday, April 18th. StockNews.com lowered shares of Kenon from a “hold” rating to a “sell” rating in a research note on Friday, May 12th.

Kenon Stock Down 1.7 %

The firm’s 50 day moving average is $26.80 and its two-hundred day moving average is $29.39. The firm has a market cap of $1.33 billion, a P/E ratio of -3.97 and a beta of 1.43. The company has a current ratio of 2.90, a quick ratio of 2.90 and a debt-to-equity ratio of 0.52.

Kenon (NYSE:KEN – Get Rating) last announced its quarterly earnings results on Thursday, March 30th. The utilities provider reported ($15.63) earnings per share for the quarter. Kenon had a negative net margin of 58.05% and a negative return on equity of 12.90%. The company had revenue of $144.96 million during the quarter.

Kenon Cuts Dividend

The business also recently declared a — dividend, which was paid on Wednesday, April 19th. Shareholders of record on Monday, April 10th were paid a $2.79 dividend. This represents a yield of 11.9%. The ex-dividend date of this dividend was Thursday, April 6th. Kenon’s payout ratio is currently -45.00%.

Institutional Trading of Kenon

A number of hedge funds and other institutional investors have recently made changes to their positions in KEN. JPMorgan Chase & Co. raised its holdings in shares of Kenon by 353.1% in the first quarter. JPMorgan Chase & Co. now owns 84,412 shares of the utilities provider’s stock valued at $5,733,000 after purchasing an additional 65,783 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Kenon by 16.0% in the first quarter. Raymond James & Associates now owns 7,260 shares of the utilities provider’s stock valued at $493,000 after purchasing an additional 1,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Kenon in the first quarter valued at approximately $807,000. Citigroup Inc. raised its holdings in shares of Kenon by 29.0% in the first quarter. Citigroup Inc. now owns 3,691 shares of the utilities provider’s stock valued at $250,000 after purchasing an additional 829 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Kenon in the first quarter valued at approximately $241,000. 14.03% of the stock is currently owned by institutional investors and hedge funds.

Kenon Company Profile

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Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.