Kenon (NYSE:KEN) Releases Earnings Results

Key Points

• Kenon reported quarterly earnings of $0.10 EPS with a net margin of 79.14% but a negative return on equity of 2.64%.
• The stock price opened at $45.28, with a market capitalization of $2.36 billion and significant recent movement in institutional investor holdings.
• Analyst ratings have shifted, with Wall Street Zen downgrading Kenon's rating from "hold" to "sell" on May 15th.

Kenon (NYSE:KEN - Get Free Report) announced its quarterly earnings data on Thursday. The utilities provider reported $0.10 earnings per share (EPS) for the quarter, Zacks reports. Kenon had a net margin of 79.14% and a negative return on equity of 2.64%.

Kenon Stock Performance

KEN opened at $45.28 on Thursday. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 14.15 and a beta of 1.18. The company has a fifty day moving average of $44.31 and a 200 day moving average of $36.62. Kenon has a fifty-two week low of $24.27 and a fifty-two week high of $49.99. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.45 and a current ratio of 5.45.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Kenon

Several institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kenon by 10.4% during 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 acquiring an additional 35,533 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Kenon by 327.2% during the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider's stock valued at $3,920,000 after acquiring an additional 93,896 shares in the last quarter. Canada Pension Plan Investment Board grew its stake in Kenon by 12.1% during the second quarter. Canada Pension Plan Investment Board now owns 41,775 shares of the utilities provider's stock valued at $1,723,000 after acquiring an additional 4,505 shares in the last quarter. Invesco Ltd. lifted its position in Kenon by 29.0% during the second quarter. Invesco Ltd. now owns 29,587 shares of the utilities provider's stock valued at $1,229,000 after purchasing an additional 6,643 shares during the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in Kenon during the second quarter valued at $807,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

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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