StockNews.com Downgrades Kenon (NYSE:KEN) to Sell

StockNews.com lowered shares of Kenon (NYSE:KEN - Free Report) from a hold rating to a sell rating in a research note issued to investors on Wednesday.

Kenon Trading Down 3.3 %

KEN traded down $1.03 during midday trading on Wednesday, hitting $29.79. The company's stock had a trading volume of 17,941 shares, compared to its average volume of 14,091. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.55 billion, a P/E ratio of 9.31 and a beta of 1.31. The firm has a 50-day moving average price of $31.68 and a two-hundred day moving average price of $30.78. Kenon has a 52-week low of $22.17 and a 52-week high of $35.49.

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 is a boost from Kenon's previous annual dividend of $1.21. The ex-dividend date of this dividend was Monday, April 14th. This represents a yield of 15.6%. Kenon's payout ratio is 150.00%.

Institutional Trading of Kenon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Kenon by 3.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider's stock worth $92,868,000 after purchasing an additional 88,762 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kenon by 11.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider's stock worth $14,214,000 after acquiring an additional 43,694 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Kenon in the 3rd quarter worth approximately $1,136,000. LPL Financial LLC acquired a new stake in Kenon in the fourth quarter valued at approximately $998,000. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Kenon during the fourth quarter valued at approximately $746,000. Hedge funds and other institutional investors own 13.38% of the company's stock.

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.