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

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped down before the market opened on Thursday . The stock had previously closed at $94.51, but opened at $89.70. Kenon shares last traded at $91.3740, with a volume of 6,509 shares traded.

Kenon Stock Down 3.2%

The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.52. The stock has a 50-day simple moving average of $85.51 and a 200-day simple moving average of $74.92. The company has a market cap of $4.76 billion, a price-to-earnings ratio of 118.75 and a beta of 1.09.

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

Kenon Announces Dividend

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

Institutional Trading of Kenon

Several hedge funds and other institutional investors have recently modified their holdings of KEN. Goldman Sachs Group Inc. increased its position in 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. Jane Street Group LLC acquired a new position in Kenon in the 1st quarter worth about $254,000. Norges Bank acquired a new position in Kenon in the 2nd quarter worth about $566,000. Invesco Ltd. increased its position in Kenon by 29.0% in the 2nd quarter. Invesco Ltd. now owns 29,587 shares of the utilities provider’s stock worth $1,229,000 after purchasing an additional 6,643 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 valued at $15,580,000 after acquiring an additional 35,533 shares during the last quarter. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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.