Kenon (NYSE:KEN) Shares Gap Down – Here’s What Happened

Kenon Holdings Ltd. (NYSE:KEN)’s share price gapped down before the market opened on Monday . The stock had previously closed at $91.45, but opened at $85.60. Kenon shares last traded at $84.5510, with a volume of 4,203 shares traded.

Wall Street Analysts Forecast Growth

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

Kenon Stock Down 4.2%

The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.52. The company has a market cap of $4.40 billion, a price-to-earnings ratio of 109.59 and a beta of 1.09. The firm’s fifty day simple moving average is $84.60 and its 200 day simple moving average is $72.96.

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

Kenon Dividend Announcement

The firm also recently announced an annual dividend, which was paid on Monday, April 20th. Investors of record on Monday, April 13th were issued a $3.85 dividend. This represents a yield of 476.0%. The ex-dividend date of this dividend was Monday, April 13th. Kenon’s dividend payout ratio is 500.00%.

Hedge Funds Weigh In On Kenon

Several large investors have recently bought and sold shares of KEN. Clal Insurance Enterprises Holdings Ltd increased its holdings in Kenon by 17.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 4,039,736 shares of the utilities provider’s stock valued at $329,944,000 after buying an additional 590,552 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Kenon by 327.2% in the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock valued at $3,920,000 after acquiring an additional 93,896 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Kenon by 22.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 248,275 shares of the utilities provider’s stock valued at $20,349,000 after acquiring an additional 44,869 shares in the last quarter. UBS Group AG boosted its stake in Kenon by 516.0% in the third quarter. UBS Group AG now owns 42,467 shares of the utilities provider’s stock valued at $1,918,000 after acquiring an additional 35,573 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Kenon by 10.4% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider’s stock valued at $15,580,000 after purchasing an additional 35,533 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About Kenon

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.