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

Kenon Holdings Ltd. (NYSE:KEN) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 30,573 shares, a decrease of 49.0% from the April 30th total of 59,986 shares. Based on an average daily volume of 30,654 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.1% of the company’s shares are sold short.

Kenon Trading Down 1.0%

NYSE KEN traded down $0.94 during trading on Monday, hitting $89.83. The company had a trading volume of 11,679 shares, compared to its average volume of 21,771. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.52. Kenon has a one year low of $34.52 and a one year high of $95.93. The company has a market cap of $4.68 billion, a price-to-earnings ratio of 116.68 and a beta of 1.06. The company’s fifty day moving average is $85.74 and its 200-day moving average is $75.44.

Kenon (NYSE:KEN) last issued its quarterly earnings data on Monday, June 1st. The utilities provider reported $0.49 EPS for the quarter. Kenon had a net margin of 7.60% and a return on equity of 3.17%.

Kenon Announces Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 13th were issued a $3.85 dividend. The ex-dividend date was Monday, April 13th. This represents a yield of 476.0%. Kenon’s dividend payout ratio is 500.00%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KEN. Goldman Sachs Group Inc. increased its stake in shares of Kenon by 327.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock worth $3,920,000 after acquiring an additional 93,896 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Kenon in the 1st quarter worth about $254,000. Norges Bank bought a new position in shares of Kenon in the 2nd quarter worth about $566,000. Invesco Ltd. increased its stake in shares of Kenon by 29.0% in the 2nd quarter. Invesco Ltd. now owns 29,587 shares of the utilities provider’s stock worth $1,229,000 after acquiring an additional 6,643 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Kenon by 10.4% in the 2nd 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 in the last quarter. 13.38% of the stock is currently owned by institutional investors.

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.