Kenon (NYSE:KEN) Upgraded by StockNews.com to “Hold”

StockNews.com upgraded shares of Kenon (NYSE:KEN) from a sell rating to a hold rating in a report published on Wednesday morning.

Kenon Trading Down 3.4 %

NYSE:KEN opened at $20.04 on Wednesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.05 and a current ratio of 3.05. Kenon has a one year low of $17.64 and a one year high of $30.65. The business’s 50-day simple moving average is $24.96 and its 200 day simple moving average is $23.40. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of -4.53 and a beta of 1.45.

Kenon Increases Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, April 15th. Shareholders of record on Monday, April 8th will be paid a dividend of $3.80 per share. The ex-dividend date is Friday, April 5th. This represents a yield of 10.5%. This is a boost from Kenon’s previous — dividend of $2.79. Kenon’s dividend payout ratio is presently -85.97%.

Institutional Trading of Kenon

Institutional investors and hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Kenon by 143.9% during the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock valued at $2,483,000 after buying an additional 63,374 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd raised its stake in Kenon by 1.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider’s stock valued at $52,838,000 after buying an additional 27,294 shares in the last quarter. Barclays PLC acquired a new stake in Kenon during the second quarter valued at approximately $90,000. Citigroup Inc. raised its stake in Kenon by 14.9% during the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after buying an additional 12,153 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Kenon during the first quarter valued at approximately $233,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

About Kenon

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 through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.