Altshuler Shaham Ltd Sells 33,810 Shares of Kenon Holdings Ltd. $KEN

Altshuler Shaham Ltd cut its stake in shares of Kenon Holdings Ltd. (NYSE:KEN) by 15.8% in the fourth quarter, HoldingsChannel reports. The fund owned 180,364 shares of the utilities provider’s stock after selling 33,810 shares during the period. Altshuler Shaham Ltd’s holdings in Kenon were worth $11,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. bought a new position in shares of Kenon during the 2nd quarter valued at approximately $32,000. Susquehanna Advisors Group Inc. bought a new position in Kenon in the 4th quarter worth approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Kenon by 24.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 610 shares during the period. PDT Partners LLC bought a new position in Kenon in the 4th quarter worth approximately $232,000. Finally, Tidal Investments LLC bought a new position in Kenon in the 2nd quarter worth approximately $256,000. 13.38% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Kenon from a “hold (c)” rating to a “hold (c+)” rating in a research note on Monday, June 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Kenon has a consensus rating of “Hold”.

Kenon Trading Down 4.6%

KEN stock opened at $66.50 on Thursday. Kenon Holdings Ltd. has a 1-year low of $36.53 and a 1-year high of $95.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.74 and a quick ratio of 3.74. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 63.94 and a beta of 1.06. The business has a 50 day simple moving average of $83.92 and a two-hundred day simple moving average of $77.17.

Kenon (NYSE:KEN) last posted its quarterly earnings results on Monday, June 1st. The utilities provider reported $0.49 earnings per share for the quarter. Kenon had a return on equity of 3.47% and a net margin of 7.98%.The business had revenue of $317.00 million during the quarter.

Kenon Announces Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 13th were issued a dividend of $3.85 per share. This represents a dividend yield of 476.0%. The ex-dividend date of this dividend was Monday, April 13th. Kenon’s dividend payout ratio is 370.19%.

Kenon 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.