Kenon (NYSE:KEN) Sets New 52-Week High – Here’s Why

Shares of Kenon Holdings Ltd. (NYSE:KEN) hit a new 52-week high on Tuesday . The stock traded as high as $31.00 and last traded at $30.35, with a volume of 10783 shares trading hands. The stock had previously closed at $30.29.

Kenon Stock Up 0.3 %

The stock has a 50-day moving average price of $27.97 and a 200-day moving average price of $26.00. The company has a debt-to-equity ratio of 0.69, a current ratio of 3.08 and a quick ratio of 3.08. The company has a market capitalization of $1.64 billion, a P/E ratio of -21.03 and a beta of 1.44.

Kenon (NYSE:KEN) last posted its quarterly earnings data on Monday, September 9th. The utilities provider reported $0.02 earnings per share for the quarter. The company had revenue of $181.00 million during the quarter. Kenon had a negative net margin of 10.61% and a negative return on equity of 9.48%.

Institutional Investors Weigh In On Kenon

Several large investors have recently added to or reduced their stakes in the business. Barclays PLC grew its position in shares of Kenon by 4,233.3% during the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after buying an additional 4,445 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Kenon by 13.4% during the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 900 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in Kenon in the 3rd quarter valued at $365,000. CWA Asset Management Group LLC bought a new stake in shares of Kenon during the third quarter worth about $504,000. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Kenon in the 2nd quarter worth about $2,317,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

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.