Kenon (NYSE:KEN) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Kenon (NYSE:KEN) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

Kenon Trading Up 0.4 %

Shares of Kenon stock opened at $31.22 on Wednesday. The stock has a market capitalization of $1.63 billion, a PE ratio of 9.76 and a beta of 1.08. Kenon has a 52 week low of $23.31 and a 52 week high of $35.49. The stock has a 50 day moving average price of $31.43 and a two-hundred day moving average price of $30.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78.

Kenon Increases Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in KEN. Clal Insurance Enterprises Holdings Ltd lifted its position in Kenon by 3.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock valued at $92,868,000 after acquiring an additional 88,762 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Kenon by 0.5% in the first quarter. Vanguard Group Inc. now owns 763,908 shares of the utilities provider’s stock valued at $24,217,000 after purchasing an additional 4,176 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kenon by 11.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock valued at $14,214,000 after purchasing an additional 43,694 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Kenon by 6.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock valued at $8,972,000 after buying an additional 15,677 shares during the last quarter. Finally, Y.D. More Investments Ltd grew its holdings in Kenon by 2.8% during the fourth quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider’s stock worth $6,885,000 after buying an additional 5,705 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.