Kenon (NYSE:KEN) Sets New 52-Week High - Here's What Happened

Key Points

• Shares of Kenon reached a new 52-week high, trading as high as $90.30 and last at $91.7260 on Thursday with light volume (~1,536 shares); the company has a market cap of $4.80 billion and a P/E of 119.30.
• Kenon disclosed an annual dividend of $3.85 paid April 20, which the article states implies a 476% yield and a dividend payout ratio of 500%.
• Analyst coverage remains cautious—Weiss Ratings reiterated a Hold and MarketBeat shows a consensus Hold—while several institutions (including Goldman Sachs, UBS and Clal) have recently increased their stakes.

Shares of Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as $90.30 and last traded at $91.7260, with a volume of 1536 shares changing hands. The stock had previously closed at $87.72.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "hold (c)" rating on shares of Kenon in a research report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to MarketBeat, Kenon has a consensus rating of "Hold".

Kenon Stock Performance

The firm has a market capitalization of $4.80 billion, a P/E ratio of 119.30 and a beta of 1.08. The stock has a 50-day moving average of $82.88 and a 200 day moving average of $69.88. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.94 and a current ratio of 4.94.

Kenon (NYSE:KEN - Get Free Report) last posted its quarterly earnings data on Monday, March 30th. The utilities provider reported $0.50 earnings per share (EPS) 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 for the quarter.

Kenon Announces Dividend

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in KEN. Clal Insurance Enterprises Holdings Ltd lifted its stake in shares of Kenon by 4.0% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider's stock valued at $153,130,000 after purchasing an additional 132,522 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Kenon by 327.2% in the 1st 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 during the period. UBS Group AG lifted its stake in shares of Kenon by 516.0% in the 3rd quarter. UBS Group AG now owns 42,467 shares of the utilities provider's stock valued at $1,918,000 after purchasing an additional 35,573 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 during the period. Finally, Sowell Financial Services LLC acquired a new position in shares of Kenon in the 3rd quarter valued at $1,318,000. Institutional investors and hedge funds own 13.38% of the company's stock.

Kenon Company Profile

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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