198,047 Shares in Kenon Holdings Ltd. $KEN Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management bought 198,047 Kenon shares worth approximately $13.4 million, representing about 0.38% of the company. Institutional investors and hedge funds collectively own 13.38% of Kenon.
• Kenon shares opened at $64.32, below their 50-day and 200-day moving averages of $69.02 and $77.78, respectively. The stock has traded between $41.50 and $95.93 over the past year.
• Kenon reported quarterly EPS of $0.49 on revenue of $317 million, while Weiss Ratings downgraded the stock from “hold (c+)” to “hold (c).” The analyst consensus remains Hold.

Assenagon Asset Management S.A. bought a new stake in Kenon Holdings Ltd. (NYSE:KEN - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 198,047 shares of the utilities provider's stock, valued at approximately $13,381,000. Assenagon Asset Management S.A. owned approximately 0.38% of Kenon at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. bought a new position in shares of Kenon in the 1st quarter valued at about $29,000. Raymond James Financial Inc. bought a new stake in Kenon during the second quarter worth about $32,000. Susquehanna Advisors Group Inc. acquired a new position in Kenon during the fourth quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider's stock valued at $206,000 after purchasing an additional 610 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in Kenon during the fourth quarter valued at approximately $232,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Kenon from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, June 26th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Kenon has an average rating of "Hold".

Kenon Price Performance

Shares of NYSE KEN opened at $64.32 on Tuesday. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.64. The business's 50 day moving average price is $69.02 and its two-hundred day moving average price is $77.78. The company has a market cap of $3.35 billion, a PE ratio of 61.84 and a beta of 1.12. Kenon Holdings Ltd. has a twelve month low of $41.50 and a twelve month high of $95.93.

Kenon (NYSE:KEN - Get Free Report) last released its quarterly earnings data on Monday, June 1st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter. The company had revenue of $317.00 million during the quarter. Kenon had a return on equity of 3.47% and a net margin of 7.98%.

Kenon 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.

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