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

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw unusually-high trading volume on Monday . Approximately 21,162 shares traded hands during mid-day trading, an increase of 51% from the previous session's volume of 14,036 shares.The stock last traded at $36.72 and had previously closed at $36.92.

Wall Street Analysts Forecast Growth

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

Kenon Price Performance

The firm has a 50 day simple moving average of $32.54 and a 200-day simple moving average of $31.96. 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 $1.83 billion, a PE ratio of 10.97 and a beta of 1.12.

Kenon (NYSE:KEN - Get Free Report) last posted its earnings results on Wednesday, May 28th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter. Kenon had a return on equity of 2.93% and a net margin of 22.88%. The company had revenue of $183.00 million for the quarter.

Kenon Increases Dividend

The firm also recently declared an annual dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 14th were paid a dividend of $4.80 per share. This is a positive change from Kenon's previous annual dividend of $1.21. The ex-dividend date was Monday, April 14th. This represents a dividend yield of 15.6%. Kenon's payout ratio is presently 150.00%.

Institutional Investors Weigh In On Kenon

A number of large investors have recently modified their holdings of KEN. Jane Street Group LLC purchased a new stake in shares of Kenon during the first quarter worth about $254,000. Anfield Capital Management LLC grew its stake in shares of Kenon by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider's stock worth $317,000 after acquiring an additional 4,669 shares during the last quarter. Norges Bank purchased a new stake in shares of Kenon during the fourth quarter worth about $458,000. Northern Trust Corp grew its stake in shares of Kenon by 104.6% during the fourth quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider's stock worth $524,000 after acquiring an additional 7,881 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Kenon during the first quarter worth about $575,000. 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.