Kenon (NYSE:KEN) Reaches New 52-Week High - Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s share price hit a new 52-week high on Friday . The company traded as high as $37.77 and last traded at $37.52, with a volume of 5494 shares changing hands. The stock had previously closed at $37.02.

Wall Street Analysts Forecast Growth

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

Kenon Trading Up 1.6%

The company has a market cap of $1.99 billion, a price-to-earnings ratio of 11.92 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a current ratio of 5.45 and a quick ratio of 5.45. The business has a 50 day simple moving average of $32.92 and a 200 day simple moving average of $32.25.

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 (EPS) for the quarter. The firm had revenue of $183.00 million for the quarter. Kenon had a negative return on equity of 2.64% and a net margin of 79.14%.

Kenon Increases Dividend

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

Hedge Funds Weigh In On Kenon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEN. Anfield Capital Management LLC increased its position in shares of Kenon by 100.0% in the 4th quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider's stock valued at $317,000 after buying an additional 4,669 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd grew its stake in Kenon by 3.3% in 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 acquiring an additional 88,762 shares during the period. LPL Financial LLC bought a new stake in shares of Kenon in the fourth quarter worth about $998,000. Vanguard Group Inc. increased its holdings in shares of Kenon by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider's stock worth $25,370,000 after acquiring an additional 15,249 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Kenon by 30.5% during the fourth quarter. JPMorgan Chase & Co. now owns 53,116 shares of the utilities provider's stock worth $1,806,000 after purchasing an additional 12,415 shares during the period. Institutional investors own 13.38% of the company's stock.

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.