Redhawk Wealth Advisors Inc. Purchases 7,538 Shares of Kenon Holdings Ltd. (NYSE:KEN)

Redhawk Wealth Advisors Inc. increased its stake in Kenon Holdings Ltd. (NYSE:KEN - Free Report) by 34.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,471 shares of the utilities provider's stock after acquiring an additional 7,538 shares during the period. Redhawk Wealth Advisors Inc. owned approximately 0.06% of Kenon worth $942,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Clal Insurance Enterprises Holdings Ltd lifted its position in Kenon by 3.3% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider's stock valued at $92,868,000 after buying an additional 88,762 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Kenon by 11.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider's stock worth $14,214,000 after buying an additional 43,694 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Kenon in the fourth quarter worth $998,000. Bank of America Corp DE increased its stake in Kenon by 1,139.9% during the fourth quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider's stock valued at $774,000 after purchasing an additional 20,928 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Kenon by 6.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider's stock valued at $8,972,000 after purchasing an additional 15,677 shares during the last quarter. 13.38% of the stock is owned by institutional investors and hedge funds.

Kenon Price Performance

KEN stock traded down $0.44 during trading on Friday, hitting $34.65. The company had a trading volume of 14,602 shares, compared to its average volume of 14,136. The firm has a market capitalization of $1.81 billion, a price-to-earnings ratio of 10.83 and a beta of 1.12. The business has a 50 day moving average of $32.60 and a 200 day moving average of $32.03. Kenon Holdings Ltd. has a fifty-two week low of $23.31 and a fifty-two week high of $37.50. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64.

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

Kenon Increases Dividend

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

Analysts Set New Price Targets

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

Kenon Company Profile

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.