Kenon (NYSE:KEN) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN)’s share price passed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $85.64 and traded as low as $75.65. Kenon shares last traded at $76.6160, with a volume of 27,863 shares trading hands.

Kenon Price Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 3.74 and a quick ratio of 3.74. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 99.50 and a beta of 1.06. The business’s 50-day simple moving average is $85.64 and its two-hundred day simple moving average is $76.50.

Kenon (NYSE:KEN) last issued its earnings results on Monday, June 1st. The utilities provider reported $0.49 earnings per share for the quarter. Kenon had a net margin of 7.98% and a return on equity of 3.47%. The firm had revenue of $317.00 million for the quarter.

Kenon Announces Dividend

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

Hedge Funds Weigh In On Kenon

Large investors have recently modified their holdings of the business. Y.D. More Investments Ltd raised its stake in shares of Kenon by 11.6% during the fourth quarter. Y.D. More Investments Ltd now owns 212,102 shares of the utilities provider’s stock valued at $13,963,000 after acquiring an additional 22,045 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Kenon by 4.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider’s stock valued at $153,130,000 after acquiring an additional 132,522 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Kenon by 34.9% during the third quarter. Thrivent Financial for Lutherans now owns 26,391 shares of the utilities provider’s stock valued at $1,185,000 after acquiring an additional 6,822 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Kenon by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 756,785 shares of the utilities provider’s stock valued at $49,886,000 after acquiring an additional 6,021 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock valued at $206,000 after acquiring an additional 610 shares during the last quarter. Institutional investors own 13.38% of the company’s stock.

Kenon Company Profile

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.