Kenon (NYSE:KEN) Reaches New 1-Year High - Here's Why

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) hit a new 52-week high on Thursday . The stock traded as high as $39.69 and last traded at $39.14, with a volume of 27950 shares traded. The stock had previously closed at $39.38.

Analysts Set New Price Targets

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

Kenon Stock Performance

The firm has a market cap of $2.04 billion, a price-to-earnings ratio of 12.23 and a beta of 1.12. The stock's fifty day moving average is $33.58 and its two-hundred day moving average is $32.40. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.45 and a current ratio of 5.45.

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 company had revenue of $183.00 million for the quarter. Kenon had a net margin of 79.14% and a negative return on equity of 2.64%.

Kenon Increases Dividend

The firm also recently announced an annual dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were given a $4.80 dividend. This is a boost 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 (DPR) is currently 150.00%.

Institutional Inflows and Outflows

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

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