Kenon (NYSE:KEN) Sees Strong Trading Volume – Should You Buy?

Kenon Holdings Ltd. (NYSE:KEN) saw unusually-strong trading volume on Wednesday . Approximately 22,727 shares were traded during trading, an increase of 5% from the previous session’s volume of 21,594 shares.The stock last traded at $93.9550 and had previously closed at $89.45.

Kenon Stock Up 5.5%

The firm has a market cap of $4.92 billion, a PE ratio of 122.62 and a beta of 1.09. The business’s 50 day moving average price is $85.21 and its 200 day moving average price is $74.62. 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 released its earnings results on Monday, March 30th. The utilities provider reported $0.50 EPS for the quarter. The business had revenue of $227.93 million during the quarter. Kenon had a net margin of 7.60% and a return on equity of 3.17%.

Kenon Dividend Announcement

The business also recently announced an annual dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 13th were paid a dividend of $3.85 per share. The ex-dividend date of this dividend was Monday, April 13th. This represents a dividend yield of 476.0%. Kenon’s payout ratio is currently 500.00%.

Institutional Trading of Kenon

A number of institutional investors and hedge funds have recently modified their holdings of KEN. Goldman Sachs Group Inc. increased its stake in shares of Kenon by 327.2% during the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock worth $3,920,000 after purchasing an additional 93,896 shares in the last quarter. Jane Street Group LLC purchased a new stake in Kenon during the 1st quarter valued at about $254,000. Norges Bank purchased a new stake in Kenon during the 2nd quarter valued at about $566,000. Invesco Ltd. grew its stake in Kenon by 29.0% during the 2nd quarter. Invesco Ltd. now owns 29,587 shares of the utilities provider’s stock valued at $1,229,000 after acquiring an additional 6,643 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Kenon by 10.4% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider’s stock valued at $15,580,000 after acquiring an additional 35,533 shares in the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

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.