Kenon (NYSE:KEN) Sets New 52-Week High – Here’s Why

Kenon Holdings Ltd. (NYSE:KEN)’s share price reached a new 52-week high on Thursday . The company traded as high as $39.69 and last traded at $39.14, with a volume of 27950 shares traded. The stock had previously closed at $39.38.

Wall Street Analyst Weigh In

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

Kenon Stock Performance

The stock has a market cap of $2.03 billion, a price-to-earnings ratio of 12.19 and a beta of 1.12. The company has a debt-to-equity ratio of 0.44, a quick ratio of 5.45 and a current ratio of 5.45. The stock’s 50-day simple moving average is $33.99 and its two-hundred day simple moving average is $32.51.

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

Kenon Increases Dividend

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Kenon in the fourth quarter valued at about $458,000. Northern Trust Corp increased its stake in Kenon by 104.6% in the fourth 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 period. Bank of America Corp DE increased its stake in 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 valued at $774,000 after acquiring an additional 20,928 shares during the period. LPL Financial LLC bought a new stake in Kenon in the fourth quarter valued at about $998,000. Finally, Vanguard Group Inc. increased its stake in Kenon by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider’s stock valued at $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.

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.