Kenon (NYSE:KEN) Shares Gap Down - Time to Sell?

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s share price gapped down prior to trading on Monday . The stock had previously closed at $31.07, but opened at $30.01. Kenon shares last traded at $29.92, with a volume of 8,827 shares trading hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded Kenon from a "sell" rating to a "hold" rating in a research report on Wednesday.

Kenon Price Performance

The stock has a market cap of $1.63 billion, a price-to-earnings ratio of 9.76 and a beta of 1.08. The company's 50 day moving average is $31.43 and its 200 day moving average is $30.95. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78.

Kenon Increases Dividend

The company 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 150.00%.

Hedge Funds Weigh In On Kenon

Several hedge funds have recently bought and sold shares of KEN. Norges Bank acquired a new stake in Kenon in the fourth quarter valued at $458,000. JPMorgan Chase & Co. acquired a new stake in Kenon in the 3rd quarter valued at about $1,136,000. Redhawk Wealth Advisors Inc. purchased a new position in Kenon during the 4th quarter valued at about $746,000. Barclays PLC raised its position in Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider's stock worth $127,000 after acquiring an additional 4,445 shares during the last quarter. Finally, LPL Financial LLC acquired a new position in Kenon during the fourth quarter worth about $998,000. 13.38% of the stock is 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.