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

Key Points

• Kenon shares gapped down, closing at $88.17 the prior day, opening at $82.30 and last trading around $81.47 on a volume of about 17,900 shares.
• The company announced an annual dividend of $3.85 per share payable April 20 (record/ex-dividend April 13); the report cites an unusually high 475% yield and a 500% payout ratio, which may indicate a data anomaly or an unsustainably large distribution.
• Fundamentals and analyst view: market cap $4.19B with a PE of 104.42, recent quarterly EPS of $0.50 and ROE of 3.17%, and Weiss Ratings (and the MarketBeat average) maintain a "Hold" rating.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $88.17, but opened at $82.30. Kenon shares last traded at $81.4740, with a volume of 17,882 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat, the stock has an average rating of "Hold".

Kenon Stock Performance

The firm has a market capitalization of $4.19 billion, a PE ratio of 104.42 and a beta of 1.08. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.94 and a quick ratio of 4.94. The stock has a 50-day moving average price of $81.24 and a 200-day moving average price of $66.64.

Kenon (NYSE:KEN - Get Free Report) last announced its earnings results 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 business had revenue of $227.93 million for the quarter.

Kenon Announces Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, April 20th. Stockholders of record on Monday, April 13th will be given a dividend of $3.85 per share. This represents a dividend yield of 475.0%. The ex-dividend date of this dividend is Monday, April 13th. Kenon's payout ratio is presently 500.00%.

Institutional Trading of Kenon

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in Kenon in the second quarter worth about $32,000. Susquehanna Advisors Group Inc. acquired a new position in Kenon in the fourth quarter worth about $202,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Kenon by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider's stock worth $206,000 after purchasing an additional 610 shares in the last quarter. PDT Partners LLC acquired a new position in Kenon in the fourth quarter worth about $232,000. Finally, Jane Street Group LLC acquired a new position in Kenon in the first quarter worth about $254,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.