Kenon (NYSE:KEN) Sees Unusually-High Trading Volume

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw strong trading volume on Tuesday . 24,426 shares changed hands during trading, an increase of 9% from the previous session's volume of 22,466 shares.The stock last traded at $20.91 and had previously closed at $19.66.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Kenon from a "sell" rating to a "hold" rating in a research note on Wednesday, April 10th.

Kenon Stock Performance

The stock has a market cap of $1.15 billion, a PE ratio of -4.83 and a beta of 1.45. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average price of $24.69 and a 200 day moving average price of $23.34.

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

Kenon Increases Dividend

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

Hedge Funds Weigh In On Kenon

Several institutional investors and hedge funds have recently added to or reduced their stakes in KEN. Goldman Sachs Group Inc. grew its stake in Kenon by 577.2% in the first quarter. Goldman Sachs Group Inc. now owns 104,766 shares of the utilities provider's stock valued at $7,116,000 after purchasing an additional 89,295 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Kenon by 144.7% in the second quarter. JPMorgan Chase & Co. now owns 143,261 shares of the utilities provider's stock valued at $3,328,000 after purchasing an additional 84,704 shares during the last quarter. BlackRock Inc. purchased a new stake in shares of Kenon during the first quarter worth about $5,403,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Kenon by 3.3% during the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider's stock worth $57,746,000 after acquiring an additional 75,892 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in shares of Kenon by 143.9% during the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider's stock worth $2,483,000 after acquiring an additional 63,374 shares during the last quarter. 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.