Kenon (NYSE:KEN) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Shares of Kenon saw unusually-strong trading volume Monday with about 15,208 shares traded (down 22% from the prior session) and the stock last trading at $84.18 versus a prior close of $81.67.
• Kenon paid an annual dividend of $3.85 per share on April 20, which the article states represents a 476% yield and a 500% payout ratio.
• Analysts maintain a consensus Hold rating (Weiss Ratings reiterated Hold), while key fundamentals include a $4.40 billion market cap, a P/E of 109.08, and most recent quarterly EPS of $0.50 on $227.93 million in revenue.

Shares of Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 15,208 shares were traded during trading, a decline of 22% from the previous session's volume of 19,591 shares.The stock last traded at $84.1790 and had previously closed at $81.67.

Analyst Ratings Changes

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

Kenon Stock Performance

The stock has a market cap of $4.40 billion, a P/E ratio of 109.08 and a beta of 1.08. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $82.57 and a 200 day simple moving average of $69.23.

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

Kenon Dividend Announcement

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

Hedge Funds Weigh In On Kenon

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Kenon by 4.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider's stock worth $153,130,000 after acquiring an additional 132,522 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Kenon by 327.2% during the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider's stock valued at $3,920,000 after purchasing an additional 93,896 shares in the last quarter. UBS Group AG lifted its stake in Kenon by 516.0% during the third quarter. UBS Group AG now owns 42,467 shares of the utilities provider's stock worth $1,918,000 after purchasing an additional 35,573 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Kenon by 10.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider's stock valued at $15,580,000 after purchasing an additional 35,533 shares in the last quarter. Finally, Sowell Financial Services LLC acquired a new stake in shares of Kenon in the 3rd quarter valued at $1,318,000. 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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