Kenon Holdings Ltd. (NYSE:KEN) Short Interest Down 42.1% in May

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

Kenon Stock Performance

Kenon stock traded up $1.37 during mid-day trading on Monday, hitting $36.03. The company had a trading volume of 24,727 shares, compared to its average volume of 14,178. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. Kenon has a 12-month low of $23.31 and a 12-month high of $37.50. The company's fifty day moving average is $32.60 and its 200-day moving average is $32.03. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 11.26 and a beta of 1.12.

Kenon (NYSE:KEN - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The utilities provider reported $0.22 EPS for the quarter. The business had revenue of $183.00 million for the quarter. Kenon had a return on equity of 2.93% and a net margin of 22.88%.

Kenon Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were paid a $4.80 dividend. This is an increase from Kenon's previous annual dividend of $1.21. This represents a yield of 15.6%. The ex-dividend date was Monday, April 14th. Kenon's dividend payout ratio is currently 150.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Jane Street Group LLC acquired a new position in shares of Kenon during the 1st quarter valued at about $254,000. Anfield Capital Management LLC boosted its position in shares of Kenon by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider's stock valued at $317,000 after acquiring an additional 4,669 shares during the last quarter. Norges Bank acquired a new position in shares of Kenon during the 4th quarter valued at about $458,000. Northern Trust Corp boosted its position in shares of Kenon by 104.6% during the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider's stock valued at $524,000 after acquiring an additional 7,881 shares during the last quarter. Finally, Nuveen LLC acquired a new stake in shares of Kenon during the 1st quarter worth about $575,000. 13.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded Kenon from a "hold" rating to a "sell" rating in a report on Thursday, May 15th.

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.