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

Kenon Holdings Ltd. (NYSE:KEN) shares gapped down prior to trading 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.

Analyst Ratings Changes

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

Kenon Stock Performance

The company’s 50 day moving average is $23.88 and its 200 day moving average is $23.34. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.05 and a quick ratio of 3.05.

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

Kenon Increases Dividend

The business also recently declared a — dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 8th were given 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 dividend payout ratio is currently -85.97%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Scarborough Advisors LLC acquired a new position in shares of Kenon in the 4th quarter worth approximately $39,000. BNP Paribas Financial Markets boosted its position in shares of Kenon by 150.0% during the 1st quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,800 shares in the last quarter. CWA Asset Management Group LLC acquired a new stake in Kenon during the fourth quarter worth approximately $214,000. Citigroup Inc. increased its holdings in Kenon by 14.9% in the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock worth $2,123,000 after purchasing an additional 12,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in Kenon by 143.9% in 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 buying an additional 63,374 shares during the period. Institutional investors and hedge funds 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.