Kenon (NYSE:KEN) Shares Gap Up to $19.77

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $19.77, but opened at $20.56. Kenon shares last traded at $20.37, with a volume of 14,427 shares trading hands.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of Kenon from a “sell” rating to a “hold” rating in a report on Wednesday, April 10th.

Kenon Price Performance

The stock has a market cap of $1.15 billion, a PE ratio of -4.83 and a beta of 1.45. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 0.66. The company’s 50 day moving average is $24.69 and its 200-day moving average is $23.34.

Kenon (NYSE:KEN) last released its quarterly earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter. Kenon had a negative net margin of 34.10% and a negative return on equity of 10.82%. The firm had revenue of $151.00 million for the quarter.

Kenon Increases Dividend

The company also recently declared a — dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 8th were paid a dividend of $3.80 per share. This is an increase from Kenon’s previous — dividend of $2.79. The ex-dividend date of this dividend was Friday, April 5th. This represents a yield of 10.5%. Kenon’s payout ratio is -85.97%.

Institutional Investors Weigh In On Kenon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Kenon by 3.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock worth $57,746,000 after purchasing an additional 75,892 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Kenon by 7.8% in the 4th quarter. Vanguard Group Inc. now owns 756,605 shares of the utilities provider’s stock worth $18,416,000 after purchasing an additional 54,901 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Kenon by 144.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 143,261 shares of the utilities provider’s stock worth $3,328,000 after purchasing an additional 84,704 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of Kenon by 143.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock worth $2,483,000 after purchasing an additional 63,374 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Kenon by 577.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 104,766 shares of the utilities provider’s stock worth $7,116,000 after purchasing an additional 89,295 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Kenon Company Profile

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.