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

Kenon Holdings Ltd. (NYSE:KEN) hit a new 52-week high during trading on Wednesday . The stock traded as high as $75.90 and last traded at $75.5620, with a volume of 13108 shares trading hands. The stock had previously closed at $74.21.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Kenon in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.

Kenon Price Performance

The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $3.73 billion, a P/E ratio of 92.90 and a beta of 1.17. The company has a 50 day moving average of $65.25 and a 200-day moving average of $53.69.

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

Institutional Trading of Kenon

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Kenon by 7.7% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,281,144 shares of the utilities provider’s stock valued at $135,157,000 after buying an additional 234,166 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings 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 acquiring an additional 93,896 shares during the last quarter. UBS Group AG lifted its position in Kenon by 516.0% in the 3rd quarter. UBS Group AG now owns 42,467 shares of the utilities provider’s stock valued at $1,918,000 after acquiring an additional 35,573 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Kenon by 10.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider’s stock worth $15,580,000 after purchasing an additional 35,533 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in Kenon during the 3rd quarter worth approximately $1,318,000. Institutional investors own 13.38% of the company’s stock.

About Kenon

Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.