Kenon (NYSE:KEN) Reaches New 1-Year High - What's Next?

Key Points

• Kenon Holdings Ltd. shares reached a new 1-year high, trading at $50.19, a significant increase from its previous close of $48.98.
• The stock has a market capitalization of $2.61 billion and a P/E ratio of 15.62, indicating a potential growth opportunity in the utilities sector.
• Investment analysts have a consensus rating of "Hold" for Kenon, while large investors such as Clal Insurance and Vanguard have increased their stakes in the company.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) shares reached a new 52-week high on Monday . The stock traded as high as $50.19 and last traded at $49.93, with a volume of 3164 shares. The stock had previously closed at $48.98.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Kenon in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Kenon has a consensus rating of "Hold".

Kenon Price Performance

The stock has a market cap of $2.61 billion, a P/E ratio of 15.62 and a beta of 1.18. The business's 50-day simple moving average is $45.32 and its two-hundred day simple moving average is $40.09. The company has a quick ratio of 4.33, a current ratio of 4.33 and a debt-to-equity ratio of 0.50.

Kenon (NYSE:KEN - Get Free Report) last announced its quarterly earnings results on Thursday, August 28th. The utilities provider reported $0.10 EPS for the quarter. Kenon had a negative return on equity of 2.32% and a net margin of 63.80%.The company had revenue of $196.00 million during the quarter.

Institutional Trading of Kenon

Several large investors have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Kenon by 7.7% in the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,281,144 shares of the utilities provider's stock worth $135,157,000 after acquiring an additional 234,166 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Kenon by 0.5% in the first quarter. Vanguard Group Inc. now owns 763,908 shares of the utilities provider's stock valued at $24,217,000 after acquiring an additional 4,176 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kenon by 10.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider's stock valued at $15,580,000 after purchasing an additional 35,533 shares during the period. Y.D. More Investments Ltd lifted its position in shares of Kenon by 9.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 217,649 shares of the utilities provider's stock valued at $8,965,000 after acquiring an additional 18,177 shares during the period. Finally, Goldman Sachs Group Inc. raised its position in shares of Kenon by 327.2% in the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider's stock valued at $3,920,000 after buying an additional 93,896 shares during the last quarter. 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.

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