Kenon (NYSE:KEN) Cut to Sell at StockNews.com

StockNews.com cut shares of Kenon (NYSE:KEN) from a hold rating to a sell rating in a research report released on Monday morning.

Kenon Stock Performance

Shares of KEN opened at $22.42 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.05 and a current ratio of 3.05. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -5.07 and a beta of 1.45. The company’s 50 day simple moving average is $23.97 and its 200 day simple moving average is $23.29. Kenon has a 1 year low of $17.64 and a 1 year high of $30.65.

Kenon (NYSE:KEN) last announced its quarterly earnings data on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter. The business had revenue of $151.00 million for the quarter. Kenon had a negative net margin of 34.10% and a negative return on equity of 10.82%.

Kenon Increases Dividend

The business also recently declared a — dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 8th were paid a dividend of $3.80 per share. The ex-dividend date was Friday, April 5th. This represents a yield of 10.5%. This is an increase from Kenon’s previous — dividend of $2.79. Kenon’s dividend payout ratio (DPR) is currently -85.97%.

Hedge Funds Weigh In On Kenon

A number of large investors have recently bought and sold shares of the stock. Clal Insurance Enterprises Holdings Ltd raised its stake in Kenon by 3.3% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock worth $57,746,000 after purchasing an additional 75,892 shares during the period. Assenagon Asset Management S.A. raised its stake in Kenon by 143.9% during the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock worth $2,483,000 after purchasing an additional 63,374 shares during the period. Citigroup Inc. raised its stake in Kenon by 14.9% during the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock worth $2,123,000 after purchasing an additional 12,153 shares during the period. CWA Asset Management Group LLC purchased a new position in Kenon during the fourth quarter worth approximately $214,000. Finally, BNP Paribas Financial Markets raised its stake in Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,800 shares during the period. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About Kenon

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.