Kenon (NYSE:KEN) Shares Gap Down to $23.26

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $23.26, but opened at $22.21. Kenon shares last traded at $22.31, with a volume of 11,135 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Kenon from a “hold” rating to a “sell” rating in a report on Monday, April 29th.

Kenon Stock Performance

The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 0.66. The business has a fifty day simple moving average of $23.88 and a 200 day simple moving average of $23.34.

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

Kenon Increases Dividend

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

Institutional Investors Weigh In On Kenon

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd raised its stake in Kenon by 1.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider’s stock worth $52,838,000 after purchasing an additional 27,294 shares during the period. Assenagon Asset Management S.A. grew its position in Kenon by 143.9% during the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock valued at $2,483,000 after acquiring an additional 63,374 shares during the period. Citigroup Inc. grew its position in Kenon by 14.9% during the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after acquiring an additional 12,153 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Kenon in the 4th quarter worth about $214,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Kenon in the 4th quarter valued at about $39,000. 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.