Kenon (NYSE:KEN) Sees Large Volume Increase – Still a Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares saw unusually-strong trading volume on Friday . Approximately 15,716 shares were traded during mid-day trading, an increase of 18% from the previous session’s volume of 13,346 shares.The stock last traded at $71.53 and had previously closed at $72.00.

Analyst Upgrades and Downgrades

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

Kenon Stock Down 2.3%

The company has a debt-to-equity ratio of 0.43, a current ratio of 4.66 and a quick ratio of 4.66. The stock has a 50 day moving average price of $65.25 and a 200-day moving average price of $53.69. The stock has a market capitalization of $3.69 billion, a P/E ratio of 91.88 and a beta of 1.17.

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

Institutional Investors Weigh In On Kenon

A number of institutional investors have recently bought and sold shares of KEN. Raymond James Financial Inc. bought a new position in shares of Kenon during the 2nd quarter valued at approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Kenon by 24.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after buying an additional 610 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Kenon in the 2nd quarter worth about $256,000. Jane Street Group LLC purchased a new stake in shares of Kenon during the 1st quarter valued at about $254,000. Finally, BNP Paribas Financial Markets grew its position in Kenon by 13.8% in the second quarter. BNP Paribas Financial Markets now owns 9,100 shares of the utilities provider’s stock worth $378,000 after acquiring an additional 1,100 shares in the last quarter. Hedge funds and other 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.