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

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped down before the market opened on Friday . The stock had previously closed at $74.98, but opened at $71.50. Kenon shares last traded at $72.7950, with a volume of 1,705 shares traded.

Analyst Upgrades and Downgrades

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, the company has a consensus rating of “Hold”.

Kenon Stock Up 3.7%

The firm’s fifty day moving average is $67.06 and its 200 day moving average is $54.86. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.66 and a current ratio of 4.66. The firm has a market cap of $3.87 billion, a P/E ratio of 96.28 and a beta of 1.15.

Kenon (NYSE:KEN) last released its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.48 earnings per share for the quarter. The business had revenue of $265.00 million during the quarter. Kenon had a negative return on equity of 2.81% and a net margin of 59.34%.

Institutional Investors Weigh In On Kenon

Large investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd increased its position in shares of Kenon by 4.0% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider’s stock worth $153,130,000 after purchasing an additional 132,522 shares during the period. Vanguard Group Inc. grew its holdings in shares of Kenon by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 756,785 shares of the utilities provider’s stock valued at $49,886,000 after purchasing an additional 6,021 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kenon by 8.3% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 409,084 shares of the utilities provider’s stock worth $18,365,000 after buying an additional 31,353 shares during the last quarter. Y.D. More Investments Ltd grew its position in Kenon by 9.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 217,649 shares of the utilities provider’s stock worth $8,965,000 after acquiring an additional 18,177 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Kenon by 7.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 148,723 shares of the utilities provider’s stock worth $6,685,000 after purchasing an additional 10,496 shares during the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

Kenon Company Profile

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.