Kenon (NYSE:KEN) Shares Gap Up to $19.77

Kenon Holdings Ltd. (NYSE:KEN) gapped up prior to trading on Monday . The stock had previously closed at $19.77, but opened at $20.56. Kenon shares last traded at $20.37, with a volume of 14,427 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Kenon from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th.

Kenon Stock Up 8.5 %

The business has a 50-day moving average price of $24.69 and a two-hundred day moving average price of $23.34. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. The firm has a market cap of $1.15 billion, a PE ratio of -4.83 and a beta of 1.45.

Kenon (NYSE:KEN) last posted its quarterly earnings data on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share for the quarter. Kenon had a negative return on equity of 10.82% and a negative net margin of 34.10%. The business had revenue of $151.00 million for the quarter.

Kenon Increases Dividend

The business also recently disclosed a — dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 8th were given a dividend of $3.80 per share. The ex-dividend date of this dividend was Friday, April 5th. This represents a dividend yield of 10.5%. This is a positive change from Kenon’s previous — dividend of $2.79. Kenon’s dividend payout ratio is currently -85.97%.

Institutional Trading of Kenon

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Kenon by 7.8% during the fourth quarter. Vanguard Group Inc. now owns 756,605 shares of the utilities provider’s stock worth $18,416,000 after acquiring an additional 54,901 shares during the period. Scarborough Advisors LLC purchased a new position in Kenon in the fourth quarter valued at $39,000. Nuveen Asset Management LLC purchased a new position in Kenon in the fourth quarter valued at $379,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock valued at $57,746,000 after buying an additional 75,892 shares during the last quarter. Finally, Northern Trust Corp purchased a new position in Kenon in the fourth quarter valued at $236,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Kenon Company Profile

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.