Kenon (NYSE:KEN) Sees Large Volume Increase – Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares saw unusually-strong trading volume on Monday . Approximately 7,894 shares were traded during trading, a decline of 42% from the previous session’s volume of 13,575 shares.The stock last traded at $28.41 and had previously closed at $28.62.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Kenon from a “sell” rating to a “hold” rating in a research note on Tuesday, April 15th.

Kenon Stock Down 1.4 %

The business has a fifty day moving average price of $32.00 and a two-hundred day moving average price of $30.63. The firm has a market cap of $1.47 billion, a PE ratio of 8.82 and a beta of 1.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78.

Kenon Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 14th will be given a $4.80 dividend. This represents a dividend yield of 15.6%. This is a positive change from Kenon’s previous annual dividend of $1.21. The ex-dividend date of this dividend is Monday, April 14th. Kenon’s dividend payout ratio is 150.00%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd increased its stake in shares of Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock worth $92,868,000 after acquiring an additional 88,762 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Kenon by 2.0% during the 4th quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider’s stock worth $25,370,000 after purchasing an additional 15,249 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kenon by 11.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock valued at $14,214,000 after buying an additional 43,694 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Kenon by 6.2% in the 4th 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 in the last quarter. Finally, Y.D. More Investments Ltd raised its position 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 valued at $6,885,000 after acquiring an additional 5,705 shares in the last quarter. 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.