Kenon (NYSE:KEN) Issues Quarterly Earnings Results

Key Points

• Kenon reported quarterly EPS of $0.85, alongside a 7.98% net margin and 3.47% return on equity.
• Shares fell $0.57 to $68.61 during Tuesday trading, with the stock valued at a 65.97 price-to-earnings ratio and trading well below its 52-week high of $95.93.
• Analyst sentiment remains neutral: Weiss Ratings downgraded Kenon’s rating within the “hold” category, while institutional investors and hedge funds collectively own 13.38% of the company.

Kenon (NYSE:KEN - Get Free Report) posted its quarterly earnings data on Tuesday. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, Zacks reports. Kenon had a net margin of 7.98% and a return on equity of 3.47%.

Kenon Price Performance

KEN traded down $0.57 during midday trading on Tuesday, hitting $68.61. 18,393 shares of the company traded hands, compared to its average volume of 22,731. The company has a market capitalization of $3.58 billion, a price-to-earnings ratio of 65.97 and a beta of 1.09. Kenon has a 52-week low of $41.50 and a 52-week high of $95.93. The business has a 50 day simple moving average of $66.97 and a two-hundred day simple moving average of $76.66. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.64.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Kenon from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, June 26th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Kenon presently has a consensus rating of "Hold".

Institutional Investors Weigh In On Kenon

A number of hedge funds have recently modified their holdings of the business. Invesco Ltd. lifted its stake in Kenon by 11.5% in the 4th quarter. Invesco Ltd. now owns 35,783 shares of the utilities provider's stock worth $2,373,000 after purchasing an additional 3,680 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Kenon during the fourth quarter valued at about $232,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Kenon during the fourth quarter worth $202,000. Public Employees Retirement System of Ohio increased its stake in Kenon by 23.0% during the fourth quarter. Public Employees Retirement System of Ohio now owns 10,766 shares of the utilities provider's stock worth $710,000 after purchasing an additional 2,012 shares during the period. Finally, Vanguard Personalized Indexing Management LLC lifted its holdings in Kenon by 15.2% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 16,273 shares of the utilities provider's stock worth $1,079,000 after buying an additional 2,143 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.

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