Arrowstreet Capital Limited Partnership Buys 44,869 Shares of Kenon Holdings Ltd. $KEN

Key Points

• Arrowstreet Capital increased its Kenon Holdings stake by 22.1% in the first quarter, purchasing 44,869 additional shares and bringing its holdings to 248,275 shares valued at approximately $20.3 million.
• Several institutional investors also raised their positions, including Clal Insurance, which increased its stake by 17.1% to more than 4 million shares. Institutional investors collectively own 13.38% of Kenon.
• Kenon reported quarterly revenue of $317 million and earnings of $0.49 per share, while the stock recently traded at $66.56. The company carries a consensus “Hold” rating after Weiss Ratings downgraded it from “hold (c+)” to “hold (c).”

Arrowstreet Capital Limited Partnership lifted its stake in Kenon Holdings Ltd. (NYSE:KEN - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 248,275 shares of the utilities provider's stock after purchasing an additional 44,869 shares during the period. Arrowstreet Capital Limited Partnership owned 0.48% of Kenon worth $20,349,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of KEN. Y.D. More Investments Ltd lifted its position in Kenon by 11.6% during the 4th quarter. Y.D. More Investments Ltd now owns 212,102 shares of the utilities provider's stock worth $13,963,000 after acquiring an additional 22,045 shares during the period. Vanguard Group Inc. increased its holdings in shares of Kenon by 0.8% in the fourth 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 period. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kenon by 17.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,039,736 shares of the utilities provider's stock valued at $329,944,000 after purchasing an additional 590,552 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Kenon by 9.9% in the third quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider's stock valued at $452,000 after purchasing an additional 900 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Kenon by 4.6% during the third quarter. JPMorgan Chase & Co. now owns 28,012 shares of the utilities provider's stock worth $1,265,000 after purchasing an additional 1,234 shares during the last quarter. Institutional investors own 13.38% of the company's stock.

Kenon Stock Performance

NYSE KEN opened at $66.56 on Friday. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $72.35 and its two-hundred day moving average is $77.93. Kenon Holdings Ltd. has a 12-month low of $41.50 and a 12-month high of $95.93. The stock has a market capitalization of $3.47 billion, a price-to-earnings ratio of 64.00 and a beta of 1.11.

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

Wall Street Analyst Weigh In

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, the stock presently has an average rating of "Hold".

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.

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