Kenon (NYSE:KEN) Hits New 52-Week High – Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN)’s stock price hit a new 52-week high during trading on Thursday . The stock traded as high as $63.10 and last traded at $62.8950, with a volume of 2576 shares trading hands. The stock had previously closed at $61.44.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kenon in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Kenon presently has an average rating of “Hold”.

Kenon Price Performance

The business’s 50-day simple moving average is $55.23 and its 200 day simple moving average is $47.48. The company has a market capitalization of $3.29 billion, a P/E ratio of 81.86 and a beta of 1.20. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.43.

Kenon (NYSE:KEN) last posted its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter. Kenon had a net margin of 59.34% and a negative return on equity of 2.81%. The business had revenue of $265.00 million during the quarter.

Institutional Trading of Kenon

Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Kenon by 0.5% during the first quarter. Vanguard Group Inc. now owns 763,908 shares of the utilities provider’s stock worth $24,217,000 after acquiring an additional 4,176 shares during the period. Invesco Ltd. lifted its holdings in Kenon by 23.0% in the 1st quarter. Invesco Ltd. now owns 22,944 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 4,293 shares during the last quarter. Nuveen LLC bought a new position in shares of Kenon during the 1st quarter valued at about $575,000. Goldman Sachs Group Inc. grew its stake in shares of Kenon by 327.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock worth $3,920,000 after purchasing an additional 93,896 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Kenon in the 1st quarter worth approximately $254,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

Kenon Company Profile

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.