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

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) was the recipient of a significant increase in short interest in May. As of May 15th, there was short interest totalling 50,400 shares, an increase of 88.1% from the April 30th total of 26,800 shares. Currently, 0.3% of the shares of the company are short sold. Based on an average daily volume of 22,800 shares, the days-to-cover ratio is currently 2.2 days.

Wall Street Analyst Weigh In

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

Kenon Stock Performance

KEN traded up $0.67 during midday trading on Wednesday, hitting $36.75. 5,863 shares of the company traded hands, compared to its average volume of 14,021. The company's 50-day moving average is $31.89 and its 200 day moving average is $31.63. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.92 billion, a PE ratio of 11.48 and a beta of 1.08. Kenon has a 52 week low of $23.31 and a 52 week high of $36.94.

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

Kenon Increases Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Monday, April 14th. This is a positive change from Kenon's previous annual dividend of $1.21. This represents a yield of 15.6%. Kenon's payout ratio is currently 150.00%.

Hedge Funds Weigh In On Kenon

Several hedge funds and other institutional investors have recently modified their holdings of KEN. Clal Insurance Enterprises Holdings Ltd grew its holdings in shares of Kenon by 9.5% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,046,978 shares of the utilities provider's stock worth $96,048,000 after acquiring an additional 264,000 shares during the period. Goldman Sachs Group Inc. boosted its position in Kenon by 327.2% in the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider's stock worth $3,920,000 after purchasing an additional 93,896 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Kenon by 11.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider's stock worth $14,214,000 after purchasing an additional 43,694 shares during the last quarter. LPL Financial LLC bought a new stake in shares of Kenon during the 4th quarter valued at about $998,000. Finally, Bank of America Corp DE increased its position in shares of Kenon by 1,139.9% during the 4th quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider's stock valued at $774,000 after purchasing an additional 20,928 shares during the last quarter. 13.38% of the stock is owned by institutional investors.

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.