Kenon (NYSE:KEN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Kenon (NYSE:KEN) from a sell rating to a hold rating in a report released on Tuesday.

Kenon Stock Down 2.4 %

KEN stock opened at $27.68 on Tuesday. The business’s 50-day moving average is $32.21 and its two-hundred day moving average is $30.59. The company has a market cap of $1.44 billion, a price-to-earnings ratio of 8.65 and a beta of 1.31. Kenon has a fifty-two week low of $20.53 and a fifty-two week high of $35.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78.

Kenon Increases Dividend

The firm 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 $4.80 dividend. This is an increase from Kenon’s previous annual dividend of $1.21. The ex-dividend date of this dividend is Monday, April 14th. This represents a dividend yield of 15.6%. Kenon’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Trading of Kenon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Clal Insurance Enterprises Holdings Ltd boosted its stake in shares of Kenon by 3.3% during 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 acquiring an additional 88,762 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kenon by 11.4% during 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. JPMorgan Chase & Co. bought a new stake in Kenon during the third quarter valued at about $1,136,000. LPL Financial LLC bought a new stake in Kenon during the fourth quarter valued at about $998,000. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in Kenon in the fourth quarter worth about $746,000. 13.38% of the stock is owned by hedge funds and other institutional investors.

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.