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

Kenon (NYSE:KEN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

Kenon Stock Performance

Kenon stock opened at $22.54 on Tuesday. Kenon has a fifty-two week low of $17.64 and a fifty-two week high of $30.65. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -5.10 and a beta of 1.45. The stock has a fifty day moving average of $23.83 and a two-hundred day moving average of $23.35. 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 (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 firm had revenue of $151.00 million during the quarter.

Institutional Trading of Kenon

Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in shares of Kenon by 143.9% during the third 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. Clal Insurance Enterprises Holdings Ltd increased its stake in Kenon by 1.2% in 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 purchasing an additional 27,294 shares during the last quarter. Citigroup Inc. lifted its position in Kenon by 14.9% during the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock worth $2,123,000 after buying an additional 12,153 shares during the period. BNP Paribas Financial Markets boosted its stake in Kenon by 150.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after buying an additional 1,800 shares during the last quarter. Finally, Scarborough Advisors LLC acquired a new stake in Kenon in the 4th quarter worth about $39,000. Institutional investors and hedge funds 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.