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

Key Points

• Volume spike: Kenon saw mid-day trading of 66,249 shares, a 215% increase from the prior session, while the stock fell about 5.8% (last traded ~$85.81 vs. prior close $91.99).
• Large dividend declared: The company paid an annual dividend of $3.85 per share (ex-dividend Apr 13, paid Apr 20), which the report lists as a 476% yield and a 500% payout ratio.
• Analyst rating and fundamentals: Weiss Ratings reiterated a "Hold" and Kenon has a market cap of $4.51 billion, a P/E of 112.48, and reported quarterly EPS of $0.50 on $227.9 million in revenue.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) shares saw an uptick in trading volume on Thursday . 66,249 shares traded hands during mid-day trading, an increase of 215% from the previous session's volume of 21,017 shares.The stock last traded at $85.8050 and had previously closed at $91.99.

Analyst Upgrades and Downgrades

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

Kenon Stock Down 5.8%

The stock has a market capitalization of $4.51 billion, a price-to-earnings ratio of 112.48 and a beta of 1.09. The business's 50-day moving average is $83.59 and its two-hundred day moving average is $70.97. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 0.52.

Kenon (NYSE:KEN - Get Free Report) last posted its quarterly earnings results on Monday, March 30th. The utilities provider reported $0.50 earnings per share for the quarter. The firm had revenue of $227.93 million for the quarter. Kenon had a net margin of 7.60% and a return on equity of 3.17%.

Kenon Announces Dividend

The firm also recently declared an annual dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 13th were given a dividend of $3.85 per share. The ex-dividend date was Monday, April 13th. This represents a yield of 476.0%. Kenon's payout ratio is presently 500.00%.

Hedge Funds Weigh In On Kenon

A number of institutional investors and hedge funds have recently bought and sold shares of KEN. Blue Trust Inc. acquired a new position in Kenon in the 1st quarter valued at about $29,000. Raymond James Financial Inc. acquired a new position in Kenon in the 2nd quarter valued at about $32,000. Susquehanna Advisors Group Inc. acquired a new position in Kenon in the 4th quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Kenon by 24.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider's stock valued at $206,000 after purchasing an additional 610 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in Kenon in the 4th quarter valued at about $232,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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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