Kenon Holdings Ltd. (NYSE:KEN) Sees Significant Decline in Short Interest

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) was the recipient of a large decline in short interest during the month of May. As of May 31st, there was short interest totalling 29,200 shares, a decline of 42.1% from the May 15th total of 50,400 shares. Based on an average daily trading volume, of 24,800 shares, the short-interest ratio is currently 1.2 days. Approximately 0.2% of the shares of the stock are short sold.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of KEN. Norges Bank acquired a new stake in shares of Kenon in the fourth quarter worth $458,000. Northern Trust Corp increased its stake 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 worth $524,000 after acquiring an additional 7,881 shares during the period. Bank of America Corp DE increased its stake in shares of Kenon by 1,139.9% in the fourth 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 acquired a new stake in shares of Kenon in the fourth quarter worth $998,000. Finally, Vanguard Group Inc. increased its stake in shares of Kenon by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider's stock worth $25,370,000 after acquiring an additional 15,249 shares during the period. Institutional investors and hedge funds own 13.38% of the company's stock.

Kenon Trading Up 3.1%

Shares of NYSE:KEN traded up $1.12 during trading on Thursday, reaching $37.22. 25,999 shares of the company were exchanged, compared to its average volume of 14,232. The firm has a market capitalization of $1.94 billion, a PE ratio of 11.63 and a beta of 1.12. The business's fifty day simple moving average is $32.79 and its 200-day simple moving average is $32.14. Kenon has a 12-month low of $23.31 and a 12-month high of $37.50. The company has a debt-to-equity ratio of 0.44, a current ratio of 5.45 and a quick ratio of 5.45.

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

Kenon Increases Dividend

The business also recently declared an annual dividend, which was paid on Monday, April 21st. Shareholders of record on Monday, April 14th were paid a dividend of $4.80 per share. This is a positive change from Kenon's previous annual dividend of $1.21. The ex-dividend date of this dividend was Monday, April 14th. This represents a yield of 15.6%. Kenon's dividend payout ratio is presently 150.00%.

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.