Kenon (NYSE:KEN) Shares Gap Up - Time to Buy?

Key Points

• Shares gapped up, opening at $88.40 from a $83.91 close and last trading around $88.90 (roughly a 5.6% increase) on light volume.
• Analysts maintain a consensus Hold rating (Weiss Ratings reiterated Hold), while fundamentals show a high P/E of 115.11, market cap of $4.62B, and modest profitability (Q1 EPS $0.50, ROE 3.17%, net margin 7.6%).
• Kenon recently paid an annual dividend of $3.85 per share (ex-dividend April 13), with the report citing an unusually large yield of 476% and a payout ratio of 500%.

Shares of Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $83.91, but opened at $88.40. Kenon shares last traded at $88.8970, with a volume of 18,574 shares.

Analyst Upgrades and Downgrades

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

Kenon Trading Up 5.6%

The business's 50 day simple moving average is $82.67 and its 200-day simple moving average is $69.47. The stock has a market capitalization of $4.62 billion, a P/E ratio of 115.11 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.

Kenon (NYSE:KEN - Get Free Report) last posted its quarterly earnings results on Monday, March 30th. The utilities provider reported $0.50 earnings per share for the quarter. Kenon had a return on equity of 3.17% and a net margin of 7.60%.The company had revenue of $227.93 million for the quarter.

Kenon Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 13th were issued a dividend of $3.85 per share. The ex-dividend date was Monday, April 13th. This represents a yield of 476.0%. Kenon's payout ratio is currently 500.00%.

Hedge Funds Weigh In On Kenon

A number of hedge funds and other institutional investors have recently made changes to their positions in KEN. Blue Trust Inc. bought a new stake in shares of Kenon in the 1st quarter valued at $29,000. Raymond James Financial Inc. bought a new position in Kenon during the second quarter worth about $32,000. Susquehanna Advisors Group Inc. bought a new position in Kenon during 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 valued at $206,000 after acquiring an additional 610 shares during the period. Finally, PDT Partners LLC bought a new stake in shares of Kenon in the fourth quarter worth about $232,000. 13.38% of the stock is owned by 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.

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