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

Kenon Holdings Ltd. (NYSE:KEN) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $95.93 and last traded at $95.5490, with a volume of 34964 shares. The stock had previously closed at $90.10.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kenon in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Kenon has a consensus rating of “Hold”.

Kenon Stock Performance

The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.94 and a current ratio of 4.94. The firm’s 50 day simple moving average is $83.42 and its 200-day simple moving average is $70.67. The company has a market cap of $4.98 billion, a price-to-earnings ratio of 124.09 and a beta of 1.09.

Kenon (NYSE:KEN) last announced its earnings results on Monday, March 30th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter. Kenon had a net margin of 7.60% and a return on equity of 3.17%. The company had revenue of $227.93 million for the quarter.

Kenon Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. acquired a new position in shares of Kenon during the 1st quarter valued at about $29,000. Raymond James Financial Inc. acquired a new position in shares of Kenon during the 2nd quarter valued at about $32,000. Susquehanna Advisors Group Inc. acquired a new position in shares of Kenon during the 4th quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Kenon by 24.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock valued at $206,000 after acquiring an additional 610 shares during the last quarter. Finally, PDT Partners LLC acquired a new position in shares of Kenon during the 4th quarter valued at about $232,000. Institutional investors and hedge funds own 13.38% of the company’s stock.

Kenon Company Profile

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.