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

Kenon Holdings Ltd. (NYSE:KEN) gapped down before the market opened on Thursday . The stock had previously closed at $94.51, but opened at $89.70. Kenon shares last traded at $91.3740, with a volume of 6,509 shares changing hands.

Kenon Stock Performance

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 firm has a market cap of $4.76 billion, a price-to-earnings ratio of 118.75 and a beta of 1.09. The stock has a fifty day moving average price of $85.51 and a 200 day moving average price of $74.92.

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

Kenon Dividend Announcement

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

Institutional Trading of Kenon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Segall Bryant & Hamill LLC acquired a new stake in Kenon in the 1st quarter valued at approximately $2,681,000. Bank of America Corp DE grew its holdings in Kenon by 9.5% in the 1st quarter. Bank of America Corp DE now owns 5,383 shares of the utilities provider’s stock valued at $443,000 after buying an additional 467 shares during the last quarter. Altshuler Shaham Ltd grew its holdings in Kenon by 4.9% in the 1st quarter. Altshuler Shaham Ltd now owns 189,228 shares of the utilities provider’s stock valued at $15,455,000 after buying an additional 8,864 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Kenon by 61.8% in the 1st quarter. Renaissance Technologies LLC now owns 28,000 shares of the utilities provider’s stock valued at $2,306,000 after buying an additional 10,700 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Kenon by 22.1% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 248,275 shares of the utilities provider’s stock valued at $20,349,000 after buying an additional 44,869 shares during the last quarter. Institutional investors and hedge funds 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.