Kenon (NYSE:KEN) Shares Gap Down – Time to Sell?

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $88.17, but opened at $82.30. Kenon shares last traded at $81.4740, with a volume of 17,882 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Kenon in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

Kenon Stock Down 8.8%

The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $81.24 and a 200 day moving average of $66.64. The firm has a market capitalization of $4.19 billion, a price-to-earnings ratio of 104.42 and a beta of 1.08.

Kenon (NYSE:KEN) last issued its earnings results 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 during the quarter.

Kenon Announces Dividend

The business also recently announced an annual dividend, which will be paid on Monday, April 20th. Shareholders of record on Monday, April 13th will be paid a $3.85 dividend. This represents a yield of 475.0%. The ex-dividend date is Monday, April 13th. Kenon’s payout ratio is presently 500.00%.

Hedge Funds Weigh In On Kenon

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Y.D. More Investments Ltd boosted its stake in Kenon by 11.6% in 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 period. Sowell Financial Services LLC acquired a new position in Kenon in the third quarter valued at approximately $1,318,000. Clal Insurance Enterprises Holdings Ltd boosted its stake in Kenon by 4.0% in 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 period. Thrivent Financial for Lutherans boosted its stake in Kenon by 34.9% in 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 period. Finally, Public Employees Retirement System of Ohio boosted its stake in Kenon by 23.0% in the fourth quarter. Public Employees Retirement System of Ohio now owns 10,766 shares of the utilities provider’s stock valued at $710,000 after acquiring an additional 2,012 shares during the period. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.