Kenon (NYSE:KEN) Sees Unusually-High Trading Volume - Should You Buy?

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 7,894 shares were traded during trading, a decline of 42% from the previous session's volume of 13,575 shares.The stock last traded at $28.41 and had previously closed at $28.62.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Kenon from a "hold" rating to a "sell" rating in a report on Wednesday.

Kenon Trading Up 0.6 %

The firm has a 50-day moving average price of $31.76 and a 200-day moving average price of $30.69. The stock has a market cap of $1.61 billion, a PE ratio of 9.65 and a beta of 1.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78.

Kenon Increases Dividend

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

Hedge Funds Weigh In On Kenon

Hedge funds have recently added to or reduced their stakes in the company. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider's stock worth $92,868,000 after purchasing an additional 88,762 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Kenon by 11.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider's stock valued at $14,214,000 after acquiring an additional 43,694 shares during the period. JPMorgan Chase & Co. purchased a new stake in shares of Kenon during the 3rd quarter valued at about $1,136,000. LPL Financial LLC bought a new stake in shares of Kenon in the fourth quarter worth approximately $998,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Kenon during the fourth quarter valued at approximately $746,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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.