Kenon (NYSE:KEN) Share Price Passes Above 50-Day Moving Average of $28.36

Kenon Holdings Ltd. (NYSE:KEN – Get Rating)’s stock price crossed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $28.36 and traded as high as $30.65. Kenon shares last traded at $30.46, with a volume of 11,966 shares trading hands.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. StockNews.com downgraded Kenon from a “hold” rating to a “sell” rating in a report on Friday, May 12th. TheStreet lowered Kenon from a “b” rating to a “c+” rating in a research report on Tuesday, April 18th.

Kenon Stock Down 0.3 %

The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.50 and a current ratio of 5.50. The stock has a 50 day moving average price of $28.36 and a 200 day moving average price of $31.45. The company has a market cap of $1.64 billion, a P/E ratio of 5.25 and a beta of 1.43.

Kenon (NYSE:KEN – Get Rating) last announced its earnings results on Thursday, March 30th. The utilities provider reported ($15.63) earnings per share (EPS) for the quarter. The company had revenue of $144.96 million for the quarter. Kenon had a return on equity of 11.36% and a net margin of 54.38%.

Kenon Cuts Dividend

The firm also recently declared a — dividend, which was paid on Wednesday, April 19th. Stockholders of record on Monday, April 10th were issued a dividend of $2.79 per share. The ex-dividend date was Thursday, April 6th. This represents a dividend yield of 11.9%. Kenon’s dividend payout ratio is 48.10%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in shares of Kenon by 237.7% during the 1st quarter. JPMorgan Chase & Co. now owns 58,557 shares of the utilities provider’s stock worth $1,721,000 after acquiring an additional 41,217 shares in the last quarter. BlackRock Inc. lifted its position in shares of Kenon by 7.3% during the 1st quarter. BlackRock Inc. now owns 85,606 shares of the utilities provider’s stock worth $2,517,000 after purchasing an additional 5,817 shares during the last quarter. Bank of America Corp DE raised its holdings in Kenon by 432.1% in the 1st quarter. Bank of America Corp DE now owns 75,191 shares of the utilities provider’s stock valued at $2,211,000 after acquiring an additional 61,061 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Kenon by 117.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 118,418 shares of the utilities provider’s stock valued at $3,467,000 after acquiring an additional 63,882 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Kenon by 10.1% in the 1st quarter. Acadian Asset Management LLC now owns 19,165 shares of the utilities provider’s stock valued at $555,000 after acquiring an additional 1,754 shares in the last quarter. Hedge funds and other institutional investors own 6.42% of the company’s stock.

About Kenon

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Kenon Holdings Ltd. is an investment company, which engages in the operation of growth-oriented businesses. It operates through the following segments: OPC, Quantum and ZIM. The OPC segment include initiation, development, construction and operation of power plants and the sale and supply of electricity under OPC Energy Ltd and its subsidiaries.