Short Interest in Kenon Holdings Ltd. (NYSE:KEN) Expands By 133.9%

Key Points

• Short interest jumped by 133.9% in April to 52,817 shares (about 0.1% of shares outstanding) with a days-to-cover ratio of 1.8 days.
• Kenon paid an annual dividend of $3.85 (paid April 20), which the article reports as a 476.0% yield and a dividend payout ratio of 500.00%.
• In the latest quarter Kenon reported $0.50 EPS on $227.93 million of revenue; the stock has a market cap of about $4.26 billion and a trailing P/E of 106.17.

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) saw a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 52,817 shares, a growth of 133.9% from the March 31st total of 22,579 shares. Approximately 0.1% of the company's shares are short sold. Based on an average daily trading volume, of 28,644 shares, the days-to-cover ratio is presently 1.8 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Blue Trust Inc. bought a new stake in shares of Kenon in the 1st quarter valued at about $29,000. Raymond James Financial Inc. bought a new position in Kenon during the second quarter worth about $32,000. Susquehanna Advisors Group Inc. acquired a new position in Kenon during the fourth quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider's stock worth $206,000 after buying an additional 610 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Kenon in the fourth quarter valued at approximately $232,000. 13.38% of the stock is currently owned by institutional investors and hedge funds.

Kenon Stock Up 0.5%

Shares of NYSE KEN traded up $0.42 during midday trading on Friday, reaching $81.75. The company's stock had a trading volume of 16,588 shares, compared to its average volume of 23,121. The stock has a 50 day simple moving average of $82.57 and a 200-day simple moving average of $69.23. 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 stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 106.17 and a beta of 1.08. Kenon has a fifty-two week low of $29.60 and a fifty-two week high of $89.89.

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 firm had revenue of $227.93 million during the quarter. Kenon had a return on equity of 3.17% and a net margin of 7.60%.

Kenon Announces Dividend

The company also recently declared an annual dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 13th were paid a $3.85 dividend. The ex-dividend date was Monday, April 13th. This represents a yield of 476.0%. Kenon's dividend payout ratio (DPR) is currently 500.00%.

About Kenon

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.