Kenon (NYSE:KEN) Sees Strong Trading Volume

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-high trading volume on Tuesday . Approximately 24,426 shares changed hands during mid-day trading, an increase of 9% from the previous session’s volume of 22,466 shares.The stock last traded at $20.91 and had previously closed at $19.66.

Analyst Upgrades and Downgrades

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

Kenon Trading Down 2.6 %

The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. The stock has a fifty day moving average of $24.55 and a 200 day moving average of $23.31.

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

Kenon Increases Dividend

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

Hedge Funds Weigh In On Kenon

Hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of Kenon by 7.8% during the 4th quarter. Vanguard Group Inc. now owns 756,605 shares of the utilities provider’s stock valued at $18,416,000 after buying an additional 54,901 shares in the last quarter. Scarborough Advisors LLC bought a new stake in Kenon during the fourth quarter valued at about $39,000. Nuveen Asset Management LLC purchased a new position in shares of Kenon in the fourth quarter valued at about $379,000. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock valued at $57,746,000 after acquiring an additional 75,892 shares in the last quarter. Finally, Northern Trust Corp bought a new position in shares of Kenon in the fourth quarter worth about $236,000. 13.38% of the stock is currently owned by institutional investors.

About Kenon

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.