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

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

Kenon Price Performance

Shares of NYSE:KEN opened at $25.58 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. The firm has a fifty day moving average price of $23.45 and a 200 day moving average price of $24.03. Kenon has a fifty-two week low of $17.64 and a fifty-two week high of $28.99. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of -6.19 and a beta of 1.48.

Kenon (NYSE:KENGet Free Report) last issued its earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share for the quarter. The firm had revenue of $151.00 million during the quarter. Kenon had a negative net margin of 30.60% and a negative return on equity of 10.30%.

Kenon Increases Dividend

The company also recently announced a — dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 8th were paid a $3.80 dividend. The ex-dividend date was Friday, April 5th. This represents a dividend yield of 10.5%. This is an increase from Kenon’s previous — dividend of $2.79. Kenon’s dividend payout ratio is currently -92.01%.

Institutional Investors Weigh In On Kenon

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Financial Markets raised its stake in shares of Kenon by 150.0% in the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 1,800 shares during the period. Scarborough Advisors LLC purchased a new stake in shares of Kenon in the fourth quarter valued at $39,000. Clal Insurance Enterprises Holdings Ltd increased its stake 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 buying an additional 75,892 shares during the period. CWA Asset Management Group LLC purchased a new position in Kenon in the 4th quarter worth about $214,000. Finally, Citigroup Inc. increased its stake in Kenon by 14.9% in the 3rd 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. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About Kenon

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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.

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