Kenon (KEN) Lowered to Hold at ValuEngine

ValuEngine lowered shares of Kenon (NYSE:KEN) from a buy rating to a hold rating in a research note published on Wednesday morning.

Kenon (NYSE:KEN) traded up $0.48 during trading on Wednesday, hitting $22.78. 2,717 shares of the stock traded hands, compared to its average volume of 1,967. The stock has a market cap of $1,170.55, a PE ratio of -15.19 and a beta of 1.18. Kenon has a 1-year low of $9.96 and a 1-year high of $23.00. The company has a current ratio of 1.59, a quick ratio of 1.46 and a debt-to-equity ratio of 3.37.

An institutional investor recently raised its position in Kenon stock. Vanguard Group Inc. boosted its stake in Kenon Holdings Ltd (NYSE:KEN) by 2.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 276,246 shares of the utilities provider’s stock after acquiring an additional 7,125 shares during the period. Vanguard Group Inc. owned about 0.51% of Kenon worth $3,735,000 as of its most recent SEC filing. Institutional investors and hedge funds own 0.97% of the company’s stock.

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About Kenon

Kenon Holdings Ltd is a holding company that operates primarily growth-oriented businesses. The Company’s segments include I.C. Power Asia Development Ltd (IC Power), Qoros Automotive Co, Ltd. (Qoros) and Other. I.C. Power, through its subsidiary companies, is engaged in the production, operation and sale of electricity in the country Israel.

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