Kenon (NYSE:KEN) Stock Passes Below 50 Day Moving Average – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN) shares passed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $85.64 and traded as low as $75.65. Kenon shares last traded at $76.6160, with a volume of 27,863 shares traded.

Kenon Price Performance

The company’s fifty day moving average price is $85.64 and its 200 day moving average price is $76.50. The company has a market capitalization of $3.99 billion, a P/E ratio of 99.50 and a beta of 1.06. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.64.

Kenon (NYSE:KEN) last announced its earnings results on Monday, June 1st. The utilities provider reported $0.49 EPS for the quarter. The company had revenue of $317.00 million for the quarter. Kenon had a net margin of 7.98% and a return on equity of 3.47%.

Kenon Dividend Announcement

The company also recently declared an annual dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 13th were given a dividend of $3.85 per share. The ex-dividend date was Monday, April 13th. This represents a dividend yield of 476.0%. Kenon’s dividend payout ratio (DPR) is currently 500.00%.

Institutional Trading of Kenon

Large investors have recently made changes to their positions in the company. Y.D. More Investments Ltd boosted its position in shares of Kenon by 11.6% during the 4th quarter. Y.D. More Investments Ltd now owns 212,102 shares of the utilities provider’s stock worth $13,963,000 after acquiring an additional 22,045 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Kenon by 4.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider’s stock worth $153,130,000 after acquiring an additional 132,522 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Kenon by 34.9% in the third quarter. Thrivent Financial for Lutherans now owns 26,391 shares of the utilities provider’s stock valued at $1,185,000 after buying an additional 6,822 shares in the last quarter. Vanguard Group Inc. boosted its position in Kenon by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 756,785 shares of the utilities provider’s stock valued at $49,886,000 after buying an additional 6,021 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Kenon by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock valued at $206,000 after buying an additional 610 shares in the last quarter. Institutional investors and hedge funds own 13.38% of the company’s stock.

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.