Kenon (NYSE:KEN) Sets New 12-Month High – Still a Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $76.87 and last traded at $76.2030, with a volume of 2751 shares changing hands. The stock had previously closed at $74.70.

Analysts Set New Price Targets

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

Kenon Stock Performance

The firm has a fifty day moving average of $66.18 and a 200-day moving average of $54.35. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $3.92 billion, a price-to-earnings ratio of 97.96 and a beta of 1.15.

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

Institutional Trading of Kenon

Hedge funds have recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new position in shares of Kenon during the 2nd quarter valued at about $32,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 610 shares during the last quarter. Jane Street Group LLC purchased a new position in Kenon during the first quarter worth approximately $254,000. Tidal Investments LLC purchased a new position in Kenon during the second quarter worth approximately $256,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Kenon by 13.8% in the 2nd quarter. BNP Paribas Financial Markets now owns 9,100 shares of the utilities provider’s stock valued at $378,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors and hedge funds 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.