Kenon (NYSE:KEN) Shares Gap Down – Here’s What Happened

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped down before the market opened on Monday . The stock had previously closed at $91.45, but opened at $85.60. Kenon shares last traded at $84.5510, with a volume of 4,203 shares changing hands.

Analyst Upgrades and Downgrades

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

Kenon Trading Down 4.2%

The firm has a market capitalization of $4.40 billion, a price-to-earnings ratio of 109.59 and a beta of 1.09. The business’s 50-day simple moving average is $84.60 and its two-hundred day simple moving average is $72.96. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 0.52.

Kenon (NYSE:KEN) last announced its earnings results on Monday, March 30th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter. The company had revenue of $227.93 million for the quarter. Kenon had a return on equity of 3.17% and a net margin of 7.60%.

Kenon Dividend Announcement

The company also recently announced an annual dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 13th were given a $3.85 dividend. The ex-dividend date of this dividend was Monday, April 13th. This represents a yield of 476.0%. Kenon’s payout ratio is presently 500.00%.

Institutional Trading of Kenon

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KEN. Clal Insurance Enterprises Holdings Ltd raised its position in Kenon by 17.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,039,736 shares of the utilities provider’s stock valued at $329,944,000 after purchasing an additional 590,552 shares during the period. Goldman Sachs Group Inc. raised its position in Kenon by 327.2% in the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock valued at $3,920,000 after purchasing an additional 93,896 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Kenon by 22.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 248,275 shares of the utilities provider’s stock valued at $20,349,000 after purchasing an additional 44,869 shares during the period. UBS Group AG raised its position in Kenon by 516.0% in the third quarter. UBS Group AG now owns 42,467 shares of the utilities provider’s stock valued at $1,918,000 after purchasing an additional 35,573 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kenon by 10.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider’s stock valued at $15,580,000 after purchasing an additional 35,533 shares during the period. 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.