Kenon (NYSE:KEN) Sees Large Volume Increase - Here's What Happened

Key Points

• Kenon experienced an unusually strong trading day Monday with about 18,134 shares traded — roughly a 10% increase from the prior session — as the stock last traded near $82.05 versus a prior close of $84.22.
• Analyst coverage remains cautious: Weiss Ratings reaffirmed a Hold and MarketBeat shows a consensus rating of Hold on the stock.
• On fundamentals, Kenon reported quarterly EPS of $0.48 on $265 million in revenue, has a market cap of $4.28 billion and a high P/E of 106.47, while showing strong liquidity (current and quick ratios of 4.66) and modest leverage (debt/equity 0.43); several hedge funds including Clal, Goldman Sachs and UBS recently increased their positions.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 18,134 shares changed hands during trading, an increase of 10% from the previous session's volume of 16,446 shares.The stock last traded at $82.0470 and had previously closed at $84.22.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Kenon in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold".

Kenon Stock Performance

The firm's 50 day moving average is $74.42 and its 200-day moving average is $59.90. The stock has a market capitalization of $4.28 billion, a price-to-earnings ratio of 106.47 and a beta of 1.14. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.66 and a current ratio of 4.66.

Kenon (NYSE:KEN - Get Free Report) last released its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.48 EPS for the quarter. The company had revenue of $265.00 million for the quarter. Kenon had a net margin of 59.34% and a negative return on equity of 2.81%.

Hedge Funds Weigh In On Kenon

A number of hedge funds have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd increased its position 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 valued at $135,157,000 after buying an additional 234,166 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Kenon by 327.2% in the 1st 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 during the period. UBS Group AG increased its holdings in Kenon by 516.0% in the 3rd quarter. UBS Group AG now owns 42,467 shares of the utilities provider's stock worth $1,918,000 after acquiring an additional 35,573 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position 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 worth $15,580,000 after acquiring an additional 35,533 shares during the period. Finally, Sowell Financial Services LLC purchased a new position in Kenon during the third quarter valued at $1,318,000. Hedge funds and other institutional investors own 13.38% of the company's stock.

About Kenon

Kenon Holdings Ltd. NYSE: KEN is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.

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