Kenon (NYSE:KEN) Shares Gap Down – Here’s Why

Kenon Holdings Ltd. (NYSE:KEN) shares gapped down before the market opened on Monday . The stock had previously closed at $88.17, but opened at $82.30. Kenon shares last traded at $81.4740, with a volume of 17,882 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Kenon in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, Kenon presently has an average rating of “Hold”.

Kenon Stock Up 1.9%

The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.94 and a current ratio of 4.94. The company has a market cap of $4.28 billion, a P/E ratio of 106.71 and a beta of 1.08. The stock has a 50 day moving average price of $81.58 and a 200 day moving average price of $67.19.

Kenon (NYSE:KEN) last announced its earnings results on Monday, March 30th. The utilities provider reported $0.50 earnings per share for the quarter. The business had revenue of $227.93 million during the quarter. Kenon had a return on equity of 3.17% and a net margin of 7.60%.

Kenon Dividend Announcement

The firm also recently disclosed an annual dividend, which will be paid on Monday, April 20th. Stockholders of record on Monday, April 13th will be given a dividend of $3.85 per share. The ex-dividend date is Monday, April 13th. This represents a dividend yield of 476.0%. Kenon’s dividend payout ratio (DPR) is 500.00%.

Institutional Trading of Kenon

Hedge funds and other institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. acquired a new stake in Kenon during the second quarter valued at approximately $32,000. Susquehanna Advisors Group Inc. acquired a new position in Kenon in the fourth quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Kenon by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after buying an additional 610 shares during the last quarter. PDT Partners LLC bought a new position in shares of Kenon in the fourth quarter valued at $232,000. Finally, Jane Street Group LLC acquired a new stake in shares of Kenon during the 1st quarter valued at $254,000. 13.38% of the stock is currently owned by institutional investors.

About Kenon

Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.