Kenon (NYSE:KEN) Reaches New 1-Year High – Still a Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $90.30 and last traded at $91.7260, with a volume of 1536 shares trading hands. The stock had previously closed at $87.72.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kenon in a report on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of “Hold”.

Kenon Stock Up 1.0%

The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 120.74 and a beta of 1.09. The firm’s fifty day moving average is $83.12 and its 200-day moving average is $70.04. The company has a debt-to-equity ratio of 0.52, a current ratio of 4.94 and a quick ratio of 4.94.

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

Kenon Announces Dividend

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 dividend of $3.85 per share. This represents a dividend yield of 476.0%. The ex-dividend date of this dividend was Monday, April 13th. Kenon’s dividend payout ratio is 500.00%.

Institutional Trading of Kenon

A number of institutional investors and hedge funds have recently modified their holdings of the business. Wells Fargo & Company MN raised its holdings in shares of Kenon by 4.8% during the fourth quarter. Wells Fargo & Company MN now owns 7,647 shares of the utilities provider’s stock worth $507,000 after purchasing an additional 350 shares during the period. Blue Trust Inc. acquired a new stake in shares of Kenon during the first quarter worth $29,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Kenon by 24.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 610 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Kenon during the second quarter worth $32,000. Finally, BNP Paribas Financial Markets raised its holdings in shares of Kenon by 9.9% during the third quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider’s stock worth $452,000 after purchasing an additional 900 shares during the period. 13.38% of the stock is owned by institutional investors and hedge funds.

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.