Kenon (NYSE:KEN) Shares Gap Up - Should You Buy?

Shares of Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $41.55, but opened at $43.16. Kenon shares last traded at $42.69, with a volume of 11,279 shares trading hands.

Analyst Ratings Changes

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

Kenon Stock Up 0.2%

The company has a quick ratio of 5.45, a current ratio of 5.45 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average of $35.03 and a 200-day moving average of $32.85. The firm has a market cap of $2.25 billion, a P/E ratio of 13.50 and a beta of 1.16.

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

Kenon Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 14th were given a $4.80 dividend. This represents a dividend yield of 15.6%. The ex-dividend date was Monday, April 14th. This is an increase from Kenon's previous annual dividend of $1.21. Kenon's dividend payout ratio (DPR) is 150.00%.

Institutional Investors Weigh In On Kenon

A number of institutional investors and hedge funds have recently modified their holdings of KEN. Norges Bank bought a new position in Kenon during the fourth quarter worth about $458,000. Northern Trust Corp lifted its position in shares of Kenon by 104.6% in the fourth quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider's stock valued at $524,000 after buying an additional 7,881 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Kenon by 1,139.9% during the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider's stock worth $774,000 after acquiring an additional 20,928 shares during the period. LPL Financial LLC bought a new position in shares of Kenon during the 4th quarter worth approximately $998,000. Finally, Vanguard Group Inc. raised its stake in Kenon by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider's stock valued at $25,370,000 after acquiring an additional 15,249 shares during the period. 13.38% of the stock is owned by 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.