Bank of America Corp DE Boosts Stock Position in Kenon Holdings Ltd. (NYSE:KEN)

Bank of America Corp DE raised its stake in Kenon Holdings Ltd. (NYSE:KEN - Free Report) by 1,139.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 22,764 shares of the utilities provider's stock after buying an additional 20,928 shares during the period. Bank of America Corp DE's holdings in Kenon were worth $774,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in KEN. Anfield Capital Management LLC lifted its position in Kenon by 100.0% in the 4th quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider's stock worth $317,000 after buying an additional 4,669 shares during the last quarter. Norges Bank purchased a new position in shares of Kenon during the fourth quarter worth approximately $458,000. Northern Trust Corp lifted its holdings in shares of Kenon by 104.6% in the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider's stock worth $524,000 after acquiring an additional 7,881 shares during the last quarter. LPL Financial LLC purchased a new stake in shares of Kenon in the 4th quarter valued at $998,000. Finally, JPMorgan Chase & Co. grew its holdings in shares of Kenon by 30.5% during the 4th quarter. JPMorgan Chase & Co. now owns 53,116 shares of the utilities provider's stock valued at $1,806,000 after purchasing an additional 12,415 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen downgraded shares of Kenon from a "hold" rating to a "sell" rating in a research note on Thursday, May 15th.

Kenon Trading Down 2.4%

Shares of NYSE KEN traded down $0.88 during midday trading on Thursday, reaching $35.09. The company had a trading volume of 16,479 shares, compared to its average volume of 14,076. The stock has a market cap of $1.83 billion, a PE ratio of 10.97 and a beta of 1.12. Kenon Holdings Ltd. has a one year low of $23.31 and a one year high of $37.50. The firm's fifty day moving average price is $32.45 and its 200-day moving average price is $31.92. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64.

Kenon (NYSE:KEN - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The utilities provider reported $0.22 EPS for the quarter. The business had revenue of $183.00 million for the quarter. Kenon had a return on equity of 2.93% and a net margin of 22.88%.

Kenon Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were issued a dividend of $4.80 per share. This is a positive change from Kenon's previous annual dividend of $1.21. This represents a yield of 15.6%. The ex-dividend date of this dividend was Monday, April 14th. Kenon's dividend payout ratio is currently 150.00%.

About Kenon

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.