Kenon (NYSE:KEN) Hits New 52-Week High – Still a Buy?

Shares of Kenon Holdings Ltd. (NYSE:KEN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $67.69 and last traded at $68.91, with a volume of 24727 shares. The stock had previously closed at $66.31.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Kenon in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Kenon presently has an average rating of “Hold”.

Kenon Trading Up 2.0%

The firm’s 50-day simple moving average is $59.25 and its 200-day simple moving average is $50.06. The firm has a market capitalization of $3.59 billion, a PE ratio of 89.36 and a beta of 1.17. The company has a quick ratio of 4.66, a current ratio of 4.66 and a debt-to-equity ratio of 0.43.

Kenon (NYSE:KEN) last issued its earnings results on Wednesday, November 19th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter. The firm had revenue of $265.00 million for the quarter. Kenon had a net margin of 59.34% and a negative return on equity of 2.81%.

Institutional Investors Weigh In On Kenon

Hedge funds have recently bought and sold shares of the business. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Kenon by 7.7% during the second quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,281,144 shares of the utilities provider’s stock valued at $135,157,000 after purchasing an additional 234,166 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Kenon by 327.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock valued at $3,920,000 after buying an additional 93,896 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in Kenon during the second quarter valued at $3,467,000. UBS Group AG boosted its holdings in Kenon by 516.0% in the third quarter. UBS Group AG now owns 42,467 shares of the utilities provider’s stock worth $1,918,000 after acquiring an additional 35,573 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kenon by 10.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider’s stock worth $15,580,000 after acquiring an additional 35,533 shares during the last quarter. Institutional investors own 13.38% of the company’s stock.

Kenon Company Profile

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.