Kenon (NYSE:KEN) Shares Up 5.9% – Still a Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares were up 5.9% on Tuesday. The company traded as high as $64.40 and last traded at $63.3890. 1,828 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 21,540 shares. The stock had previously closed at $59.84.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Kenon in a research report on Tuesday, September 22nd. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, Kenon presently has an average rating of “Hold”.

Kenon Trading Up 3.5%

The firm has a fifty day simple moving average of $64.99 and a two-hundred day simple moving average of $73.36. The firm has a market capitalization of $3.30 billion, a P/E ratio of 35.41 and a beta of 1.16. The company has a debt-to-equity ratio of 0.82, a current ratio of 3.22 and a quick ratio of 3.22.

Kenon (NYSE:KEN) last released its earnings results on Tuesday, September 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter. The business had revenue of $379.00 million during the quarter. Kenon had a return on equity of 4.46% and a net margin of 10.03%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Blue Trust Inc. bought a new position in shares of Kenon during the 1st quarter worth $29,000. Bank of America Corp DE increased its holdings in Kenon by 9.5% in the 1st quarter. Bank of America Corp DE now owns 5,383 shares of the utilities provider’s stock worth $443,000 after acquiring an additional 467 shares during the last quarter. Tidal Investments LLC increased its holdings in Kenon by 43.4% in the 2nd quarter. Tidal Investments LLC now owns 10,819 shares of the utilities provider’s stock worth $723,000 after acquiring an additional 3,274 shares during the last quarter. Engineers Gate Manager LP raised its stake in Kenon by 71.8% in the 2nd quarter. Engineers Gate Manager LP now owns 8,744 shares of the utilities provider’s stock valued at $585,000 after acquiring an additional 3,654 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Kenon in the 2nd quarter valued at about $495,000. Institutional investors own 13.38% of the company’s stock.

About Kenon

Kenon Holdings Ltd. is an investment holding company that develops, owns and operates businesses in the energy and infrastructure sectors. The company’s principal holding is OPC Energy Ltd., an electricity company involved in power generation and the supply of electricity to commercial and industrial customers.

Through OPC Energy and its investments, Kenon has exposure to power-generation facilities and related energy infrastructure in Israel and the United States. OPC’s activities include conventional and renewable power generation, as well as the development and operation of energy projects intended to serve businesses and other electricity users.

Kenon was established in 2014 as part of a restructuring of Israel Corporation.