Kenon (NYSE:KEN) Rating Lowered to Sell at StockNews.com

StockNews.com lowered shares of Kenon (NYSE:KEN) from a hold rating to a sell rating in a research note published on Friday morning.

Kenon Stock Performance

NYSE:KEN opened at $30.63 on Friday. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 9.57 and a beta of 1.33. The business has a 50 day moving average of $32.04 and a 200 day moving average of $30.30. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78. Kenon has a 1-year low of $19.63 and a 1-year high of $35.33.

Hedge Funds Weigh In On Kenon

Several institutional investors and hedge funds have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd lifted its stake in Kenon by 3.3% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock worth $92,868,000 after purchasing an additional 88,762 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Kenon by 2.0% in the fourth quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider’s stock worth $25,370,000 after buying an additional 15,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Kenon by 11.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock valued at $14,214,000 after acquiring an additional 43,694 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Kenon by 6.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock valued at $8,972,000 after acquiring an additional 15,677 shares during the last quarter. Finally, Y.D. More Investments Ltd boosted its holdings in Kenon by 2.8% during the 4th quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider’s stock valued at $6,885,000 after acquiring an additional 5,705 shares during the period. 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.