Kenon (NYSE:KEN) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Kenon (NYSE:KEN - Free Report) from a hold rating to a sell rating in a research report report published on Thursday morning.

Kenon Stock Down 0.9%

Kenon stock traded down $0.30 during mid-day trading on Thursday, hitting $33.74. The company had a trading volume of 1,696 shares, compared to its average volume of 14,322. The company has a market capitalization of $1.76 billion, a PE ratio of 10.55 and a beta of 1.08. The stock's 50 day moving average price is $31.55 and its two-hundred day moving average price is $31.22. Kenon has a 12 month low of $23.31 and a 12 month high of $35.49. 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 Increases Dividend

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

Institutional Trading of Kenon

A number of institutional investors and hedge funds have recently bought and sold shares of KEN. Norges Bank bought a new position in shares of Kenon during the fourth quarter valued at approximately $458,000. JPMorgan Chase & Co. acquired a new stake in shares of Kenon during the third quarter worth $1,136,000. Redhawk Wealth Advisors Inc. acquired a new stake in Kenon during the 4th quarter worth about $746,000. Barclays PLC lifted its holdings in shares of Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider's stock worth $127,000 after purchasing an additional 4,445 shares during the period. Finally, LPL Financial LLC acquired a new stake in Kenon during the 4th quarter valued at approximately $998,000. 13.38% of the stock is currently owned by institutional investors.

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.