Kenon (NYSE:KEN) Sees Unusually-High Trading Volume – What’s Next?

Kenon Holdings Ltd. (NYSE:KEN) shares saw an uptick in trading volume on Monday . 21,162 shares traded hands during trading, an increase of 51% from the previous session’s volume of 14,036 shares.The stock last traded at $36.72 and had previously closed at $36.92.

Analysts Set New Price Targets

Separately, Wall Street Zen cut Kenon from a “hold” rating to a “sell” rating in a research note on Thursday, May 15th.

Kenon Trading Down 0.5%

The company’s fifty day moving average price is $32.20 and its two-hundred day moving average price is $31.81. 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 cap of $1.92 billion, a P/E ratio of 11.48 and a beta of 1.12.

Kenon (NYSE:KEN) last posted its quarterly earnings data on Wednesday, May 28th. The utilities provider reported $0.22 earnings per share for the quarter. The firm had revenue of $183.00 million for the quarter. Kenon had a return on equity of 2.93% and a net margin of 22.88%.

Kenon Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were paid a dividend of $4.80 per share. This represents a yield of 15.6%. The ex-dividend date of this dividend was Monday, April 14th. This is an increase from Kenon’s previous annual dividend of $1.21. Kenon’s dividend payout ratio (DPR) is currently 150.00%.

Institutional Investors Weigh In On Kenon

Several institutional investors and hedge funds have recently made changes to their positions in KEN. Jane Street Group LLC purchased a new position in Kenon in the first quarter worth $254,000. Anfield Capital Management LLC lifted its stake in Kenon by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 4,669 shares during the period. Norges Bank bought a new stake in shares of Kenon during the 4th quarter valued at about $458,000. Northern Trust Corp raised its position in shares of Kenon by 104.6% in the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider’s stock worth $524,000 after acquiring an additional 7,881 shares in the last quarter. Finally, Nuveen LLC bought a new stake in Kenon during the first quarter worth about $575,000. 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.