Kenon (NYSE:KEN) Hits New 52-Week High – Should You Buy?

Kenon Holdings Ltd. (NYSE:KEN)’s share price hit a new 52-week high during trading on Monday . The company traded as high as $31.05 and last traded at $31.05, with a volume of 2450 shares traded. The stock had previously closed at $30.92.

Kenon Stock Performance

The firm has a market cap of $1.66 billion, a PE ratio of 9.63 and a beta of 1.44. The company has a 50-day simple moving average of $28.39 and a two-hundred day simple moving average of $26.29. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64.

Kenon (NYSE:KEN) last posted its quarterly earnings results on Monday, September 9th. The utilities provider reported $0.02 earnings per share for the quarter. Kenon had a net margin of 22.88% and a return on equity of 2.93%. The company had revenue of $181.00 million during the quarter.

Hedge Funds Weigh In On Kenon

Institutional investors have recently bought and sold shares of the company. CWA Asset Management Group LLC bought a new stake in Kenon in the 3rd quarter valued at about $504,000. Y.D. More Investments Ltd purchased a new stake in shares of Kenon during the 2nd quarter valued at approximately $4,371,000. Assenagon Asset Management S.A. bought a new position in Kenon in the 2nd quarter worth approximately $2,317,000. Clal Insurance Enterprises Holdings Ltd grew its stake in Kenon by 3.7% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock valued at $76,251,000 after buying an additional 97,256 shares in the last quarter. Finally, Barclays PLC raised its holdings in Kenon by 4,233.3% during the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after acquiring an additional 4,445 shares during the period. 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.