Kenon (NYSE:KEN) Stock Passes Below 50-Day Moving Average of $34.62

Kenon Holdings Ltd. (NYSE:KENGet Rating) crossed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $34.62 and traded as low as $33.69. Kenon shares last traded at $34.01, with a volume of 24,584 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Kenon in a research report on Wednesday, October 12th. They issued a “hold” rating on the stock.

Kenon Price Performance

The firm has a 50 day moving average price of $34.62 and a 200 day moving average price of $37.97. The company has a quick ratio of 5.20, a current ratio of 5.20 and a debt-to-equity ratio of 0.35. The stock has a market cap of $1.83 billion, a P/E ratio of 1.18 and a beta of 1.53.

Kenon (NYSE:KENGet Rating) last released its earnings results on Wednesday, November 30th. The utilities provider reported $4.65 EPS for the quarter. The company had revenue of $163.00 million for the quarter. Kenon had a net margin of 273.80% and a return on equity of 56.30%.

Institutional Investors Weigh In On Kenon

A number of institutional investors have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Kenon by 577.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 104,766 shares of the utilities provider’s stock valued at $7,116,000 after buying an additional 89,295 shares in the last quarter. BlackRock Inc. bought a new position in shares of Kenon during the first quarter worth $5,403,000. UBS Group AG boosted its position in shares of Kenon by 210.5% during the second quarter. UBS Group AG now owns 105,572 shares of the utilities provider’s stock worth $4,206,000 after acquiring an additional 71,576 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Kenon by 353.1% in the 1st quarter. JPMorgan Chase & Co. now owns 84,412 shares of the utilities provider’s stock valued at $5,733,000 after acquiring an additional 65,783 shares during the last quarter. Finally, Eqis Capital Management Inc. bought a new position in shares of Kenon during the 2nd quarter valued at about $1,400,000. Hedge funds and other institutional investors own 6.42% of the company’s stock.

Kenon Company Profile

(Get Rating)

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates in four segments: OPC Israel, CPV Group, ZIM, and Quantum. The company engages in the generation and supply of electricity and energy; development, construction, and management of renewable energy and conventional natural gas-fired power plants; manufacture of automobiles; and provision of container liner shipping services.

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