Kenon (NYSE:KEN) Reaches New 52-Week High – Still a Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $34.38 and last traded at $34.14, with a volume of 4362 shares trading hands. The stock had previously closed at $33.80.

Kenon Trading Up 1.0 %

The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $1.84 billion, a P/E ratio of 10.67 and a beta of 1.33. The business has a 50 day moving average of $31.98 and a 200-day moving average of $29.40.

Institutional Investors Weigh In On Kenon

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd boosted its stake in Kenon by 3.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock worth $92,868,000 after purchasing an additional 88,762 shares during the period. Vanguard Group Inc. raised its stake in shares of Kenon by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider’s stock valued at $25,370,000 after purchasing an additional 15,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kenon by 11.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock valued at $14,214,000 after purchasing an additional 43,694 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Kenon by 6.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock worth $8,972,000 after buying an additional 15,677 shares during the period. Finally, Y.D. More Investments Ltd grew its holdings in shares of Kenon by 2.8% during the fourth quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider’s stock worth $6,885,000 after buying an additional 5,705 shares in the last quarter. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.