Kenon (NYSE:KEN) Issues Quarterly Earnings Results

Kenon (NYSE:KEN) posted its quarterly earnings data on Wednesday. The utilities provider reported $0.22 earnings per share (EPS) for the quarter, Zacks reports. Kenon had a return on equity of 2.93% and a net margin of 22.88%.

Kenon Stock Up 1.9%

NYSE:KEN traded up $0.65 during trading hours on Wednesday, reaching $34.81. The company’s stock had a trading volume of 5,640 shares, compared to its average volume of 14,121. Kenon has a 12 month low of $23.31 and a 12 month high of $35.49. The stock has a 50 day moving average price of $31.54 and a two-hundred day moving average price of $31.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78. The company has a market capitalization of $1.82 billion, a P/E ratio of 10.88 and a beta of 1.08.

Kenon Increases Dividend

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

Institutional Trading of Kenon

An institutional investor recently bought a new position in Kenon stock. Jane Street Group LLC purchased a new stake in shares of Kenon Holdings Ltd. (NYSE:KEN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 8,057 shares of the utilities provider’s stock, valued at approximately $254,000. 13.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.