Kenon (NYSE:KEN) Shares Gap Down to $23.26

Shares of Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) gapped down prior to trading on Monday . The stock had previously closed at $23.26, but opened at $22.21. Kenon shares last traded at $22.31, with a volume of 11,135 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Kenon from a "hold" rating to a "sell" rating in a report on Monday, April 29th.

Kenon Trading Down 3.1 %

The company has a fifty day simple moving average of $23.83 and a two-hundred day simple moving average of $23.35. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 0.66. The company has a market cap of $1.21 billion, a PE ratio of -5.10 and a beta of 1.45.

Kenon (NYSE:KEN - Get Free Report) last issued its quarterly earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share for the quarter. Kenon had a negative return on equity of 10.82% and a negative net margin of 34.10%. The company had revenue of $151.00 million for the quarter.

Kenon Increases Dividend

The business also recently declared a -- dividend, which was paid on Monday, April 15th. Shareholders of record on Monday, April 8th were issued a dividend of $3.80 per share. This is an increase from Kenon's previous -- dividend of $2.79. The ex-dividend date was Friday, April 5th. This represents a yield of 10.5%. Kenon's dividend payout ratio is -85.97%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its holdings in shares of Kenon by 143.9% in the 3rd quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider's stock valued at $2,483,000 after acquiring an additional 63,374 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kenon by 1.2% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider's stock valued at $52,838,000 after acquiring an additional 27,294 shares during the last quarter. Citigroup Inc. increased its holdings in shares of Kenon by 14.9% in the 3rd quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider's stock valued at $2,123,000 after acquiring an additional 12,153 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Kenon by 150.0% in the 1st quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider's stock valued at $80,000 after purchasing an additional 1,800 shares during the period. Finally, Scarborough Advisors LLC acquired a new stake in shares of Kenon in the 4th quarter valued at about $39,000. Hedge funds and other institutional investors own 13.38% of the company's stock.

About Kenon

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.