Kenon (NYSE:KEN) Sees Unusually-High Trading Volume – Here’s Why

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-high trading volume on Tuesday . Approximately 8,486 shares were traded during mid-day trading, a decline of 37% from the previous session’s volume of 13,559 shares.The stock last traded at $27.80 and had previously closed at $28.35.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Kenon from a “hold” rating to a “sell” rating in a research note on Friday, April 4th.

Kenon Trading Down 2.2 %

The firm has a 50-day simple moving average of $32.29 and a 200-day simple moving average of $30.61. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64. The stock has a market cap of $1.45 billion, a PE ratio of 8.66 and a beta of 1.31.

Kenon Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be issued a dividend of $4.80 per share. This is a boost from Kenon’s previous annual dividend of $1.21. The ex-dividend date is Monday, April 14th. This represents a yield of 15.6%. Kenon’s dividend payout ratio is 150.00%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Clal Insurance Enterprises Holdings Ltd raised its position 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 buying an additional 88,762 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Kenon by 11.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock worth $14,214,000 after acquiring an additional 43,694 shares during the last quarter. JPMorgan Chase & Co. purchased a new stake in shares of Kenon in the 3rd quarter valued at about $1,136,000. LPL Financial LLC bought a new stake in shares of Kenon during the 4th quarter valued at about $998,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in shares of Kenon during the fourth quarter worth about $746,000. Hedge funds and other institutional investors 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.