Kenon (NYSE:KEN) Downgraded by StockNews.com

StockNews.com cut shares of Kenon (NYSE:KEN) from a hold rating to a sell rating in a research note published on Monday.

Kenon Trading Down 0.0 %

NYSE:KEN opened at $22.24 on Monday. The company has a 50 day simple moving average of $24.09 and a two-hundred day simple moving average of $23.29. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. Kenon has a 12 month low of $17.64 and a 12 month high of $30.65.

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

Kenon Increases Dividend

The firm also recently disclosed a — dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 8th were issued a $3.80 dividend. 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 dividend yield of 10.5%. Kenon’s dividend payout ratio (DPR) is presently -85.97%.

Institutional Trading of Kenon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Scarborough Advisors LLC purchased a new position in shares of Kenon during the 4th quarter worth $39,000. Clal Insurance Enterprises Holdings Ltd raised its holdings in 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 period. CWA Asset Management Group LLC purchased a new position in Kenon during the fourth quarter valued at $214,000. Citigroup Inc. grew its holdings 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 purchasing an additional 12,153 shares during the period. Finally, Assenagon Asset Management S.A. increased its position in Kenon by 143.9% in the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock worth $2,483,000 after buying an additional 63,374 shares in the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

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.