Kenon (NYSE:KEN) Sees Strong Trading Volume – Here’s What Happened

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-high trading volume on Monday . Approximately 18,134 shares changed hands during mid-day trading, an increase of 10% from the previous session’s volume of 16,446 shares.The stock last traded at $82.0470 and had previously closed at $84.22.

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, the company has an average rating of “Hold”.

Kenon Stock Performance

The company has a market capitalization of $4.22 billion, a price-to-earnings ratio of 105.18 and a beta of 1.14. The stock has a 50-day moving average price of $75.03 and a 200-day moving average price of $60.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.66 and a quick ratio of 4.66.

Kenon (NYSE:KEN) last posted its 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 for the quarter.

Hedge Funds Weigh In On Kenon

Several large investors have recently modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd boosted its holdings in shares of Kenon by 1.0% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,449,184 shares of the utilities provider’s stock worth $227,062,000 after buying an additional 35,518 shares during the period. Vanguard Group Inc. raised its holdings in Kenon by 0.8% in the 4th 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kenon by 8.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 409,084 shares of the utilities provider’s stock worth $18,365,000 after acquiring an additional 31,353 shares during the last quarter. Y.D. More Investments Ltd boosted its holdings in shares of Kenon by 9.1% during the second quarter. Y.D. More Investments Ltd now owns 217,649 shares of the utilities provider’s stock worth $8,965,000 after acquiring an additional 18,177 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Kenon by 7.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 148,723 shares of the utilities provider’s stock valued at $6,685,000 after purchasing an additional 10,496 shares during the last quarter. 13.38% of the stock is owned by institutional investors.

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.