Kenon (NYSE:KEN) Reaches New 52-Week High - Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $43.17 and last traded at $42.81, with a volume of 41425 shares changing hands. The stock had previously closed at $41.55.

Analysts Set New Price Targets

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

Kenon Trading Up 0.2%

The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 13.50 and a beta of 1.16. The company has a fifty day moving average price of $35.27 and a 200-day moving average price of $32.97. The company has a current ratio of 5.45, a quick ratio of 5.45 and a debt-to-equity ratio of 0.44.

Kenon (NYSE:KEN - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The utilities provider reported $0.22 earnings per share for the quarter. Kenon had a negative return on equity of 2.64% and a net margin of 79.14%. The company had revenue of $183.00 million during the quarter.

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 dividend of $4.80 per share. The ex-dividend date of this dividend was Monday, April 14th. This represents a dividend yield of 15.6%. This is a boost from Kenon's previous annual dividend of $1.21. Kenon's dividend payout ratio is presently 150.00%.

Hedge Funds Weigh In On Kenon

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings 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 valued at $24,217,000 after purchasing an additional 4,176 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Kenon by 23.0% in the first quarter. Invesco Ltd. now owns 22,944 shares of the utilities provider's stock valued at $734,000 after purchasing an additional 4,293 shares during the last quarter. CWA Asset Management Group LLC increased its holdings 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 valued at $951,000 after purchasing an additional 7,061 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its stake in Kenon by 34.4% during the first quarter. Redhawk Wealth Advisors Inc. now owns 29,471 shares of the utilities provider's stock worth $942,000 after acquiring an additional 7,538 shares during the last quarter. Finally, Northern Trust Corp increased its stake in 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. Institutional investors and hedge funds 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.