Kenon Holdings Ltd. $KEN Stock Holdings Boosted by Clal Insurance Enterprises Holdings Ltd

Key Points

• Clal Insurance Enterprises Holdings Ltd increased its Kenon stake by 17.1% in the first quarter, buying 590,552 shares and bringing its total to 4,039,736 shares. The position is worth about $329.9 million and represents roughly 7.75% of Kenon’s shares outstanding.
• Several other institutional investors also boosted their positions, including Goldman Sachs, UBS, and MIRAE ASSET GLOBAL ETFS, while institutional ownership of Kenon stands at 13.38%.
• Kenon stock was up 3.0% to $69.34, but analysts remain cautious: Weiss Ratings downgraded the stock to a hold, and the overall consensus rating is still Hold.

Clal Insurance Enterprises Holdings Ltd grew its holdings in Kenon Holdings Ltd. (NYSE:KEN - Free Report) by 17.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 4,039,736 shares of the utilities provider's stock after buying an additional 590,552 shares during the quarter. Kenon makes up about 2.0% of Clal Insurance Enterprises Holdings Ltd's investment portfolio, making the stock its 10th largest holding. Clal Insurance Enterprises Holdings Ltd owned approximately 7.75% of Kenon worth $329,944,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Goldman Sachs Group Inc. lifted its stake in Kenon by 327.2% in the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider's stock worth $3,920,000 after acquiring an additional 93,896 shares during the period. UBS Group AG raised its holdings in Kenon by 516.0% in the 3rd quarter. UBS Group AG now owns 42,467 shares of the utilities provider's stock worth $1,918,000 after purchasing an additional 35,573 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Kenon by 10.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider's stock worth $15,580,000 after purchasing an additional 35,533 shares during the period. Stifel Financial Corp purchased a new position in shares of Kenon during the fourth quarter valued at about $1,891,000. Finally, Y.D. More Investments Ltd raised its stake in Kenon by 11.6% in the fourth quarter. Y.D. More Investments Ltd now owns 212,102 shares of the utilities provider's stock worth $13,963,000 after buying an additional 22,045 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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, the stock has a consensus rating of "Hold".

Kenon Stock Up 3.0%

KEN stock opened at $69.34 on Wednesday. The company has a market cap of $3.61 billion, a price-to-earnings ratio of 66.67 and a beta of 1.11. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.74 and a current ratio of 3.74. The business's 50-day moving average is $75.08 and its two-hundred day moving average is $77.93. Kenon Holdings Ltd. has a fifty-two week low of $41.50 and a fifty-two week high of $95.93.

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

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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