Kenon (NYSE:KEN) Sees Unusually-High Trading Volume - Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw unusually-high trading volume on Monday . Approximately 22,408 shares were traded during mid-day trading, an increase of 58% from the previous session's volume of 14,216 shares.The stock last traded at $31.94 and had previously closed at $31.24.

Analyst Ratings Changes

Separately, StockNews.com cut Kenon from a "hold" rating to a "sell" rating in a research note on Thursday.

Kenon Stock Performance

The business has a fifty day simple moving average of $31.48 and a two-hundred day simple moving average of $31.07. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.74 billion, a P/E ratio of 10.40 and a beta of 1.08.

Kenon Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 14th were issued a $4.80 dividend. This is an increase from Kenon's previous annual dividend of $1.21. The ex-dividend date of this dividend was Monday, April 14th. This represents a yield of 15.6%. Kenon's dividend payout ratio is currently 150.00%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Clal Insurance Enterprises Holdings Ltd lifted its holdings in Kenon by 9.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,046,978 shares of the utilities provider's stock valued at $96,048,000 after acquiring an additional 264,000 shares during the period. Nuveen LLC bought a new position in shares of Kenon in the first quarter worth about $575,000. Invesco Ltd. raised its stake in shares of Kenon by 23.0% in the first quarter. Invesco Ltd. now owns 22,944 shares of the utilities provider's stock worth $734,000 after buying an additional 4,293 shares during the period. Vanguard Group Inc. raised its stake 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 worth $24,217,000 after buying an additional 4,176 shares during the period. Finally, CWA Asset Management Group LLC raised its stake in shares of Kenon by 31.2% in the first quarter. CWA Asset Management Group LLC now owns 29,727 shares of the utilities provider's stock worth $951,000 after buying an additional 7,061 shares during the period. Institutional investors own 13.38% of the company's stock.

Kenon Company Profile

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.