Kenon (NYSE:KEN) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Kenon (NYSE:KEN) from a sell rating to a hold rating in a report issued on Tuesday morning.

Kenon Price Performance

Shares of Kenon stock opened at $22.80 on Tuesday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.05 and a current ratio of 3.05. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of -5.16 and a beta of 1.45. The company has a fifty day moving average of $23.78 and a 200-day moving average of $23.37. Kenon has a 52-week low of $17.64 and a 52-week high of $30.65.

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

Kenon Increases Dividend

The company also recently announced a — dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 8th were issued a $3.80 dividend. This is a boost from Kenon’s previous — dividend of $2.79. The ex-dividend date was Friday, April 5th. This represents a dividend yield of 10.5%. Kenon’s dividend payout ratio (DPR) is currently -85.97%.

Institutional Investors Weigh In On Kenon

Several institutional investors have recently added to or reduced their stakes in KEN. Scarborough Advisors LLC bought a new position in Kenon during the 4th quarter valued at approximately $39,000. BNP Paribas Financial Markets raised its holdings in shares of Kenon by 150.0% during the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 1,800 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in Kenon in the fourth quarter worth $214,000. Citigroup Inc. boosted its holdings in Kenon by 14.9% in 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 in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its position in Kenon by 1.2% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider’s stock valued at $52,838,000 after purchasing an additional 27,294 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.