Short Interest in Kenon Holdings Ltd. (NYSE:KEN) Declines By 34.6%

Key Points

• Short interest declined 34.6% to 22,579 shares as of March 31, leaving a days-to-cover ratio of about 1.1 days.
• Kenon declared an annual dividend of $3.85 per share with an ex‑dividend/record date of April 13, reflecting a stated yield of 476% and a payout ratio of 500%, an unusually large distribution relative to earnings.
• Shares traded up 1.9% to $82.17 (market cap ~$4.28B) after the company reported quarterly EPS of $0.50 on $227.9M in revenue; institutional investors own roughly 13.4% of the stock.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 22,579 shares, a decline of 34.6% from the March 15th total of 34,534 shares. Based on an average daily trading volume, of 20,543 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.0% of the company's shares are short sold.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its holdings in Kenon by 4.8% during the fourth quarter. Wells Fargo & Company MN now owns 7,647 shares of the utilities provider's stock valued at $507,000 after purchasing an additional 350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider's stock valued at $206,000 after purchasing an additional 610 shares during the period. Raymond James Financial Inc. acquired a new position in Kenon during the second quarter valued at approximately $32,000. BNP Paribas Financial Markets grew its holdings in Kenon by 9.9% during the third quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider's stock valued at $452,000 after purchasing an additional 900 shares during the period. Finally, Jane Street Group LLC grew its holdings in Kenon by 12.2% during the second quarter. Jane Street Group LLC now owns 9,041 shares of the utilities provider's stock valued at $373,000 after purchasing an additional 984 shares during the period. Institutional investors and hedge funds own 13.38% of the company's stock.

Kenon Trading Up 1.9%

Shares of NYSE:KEN traded up $1.54 during trading on Tuesday, hitting $82.17. 31,239 shares of the company's stock were exchanged, compared to its average volume of 23,219. Kenon has a 1-year low of $27.10 and a 1-year high of $89.89. The firm has a 50-day moving average price of $81.58 and a two-hundred day moving average price of $67.19. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.52. The firm has a market cap of $4.28 billion, a P/E ratio of 106.71 and a beta of 1.08.

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

Kenon Announces Dividend

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

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Kenon in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Kenon Company Profile

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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