Kenon (NYSE:KEN) Shares Gap Down – Here’s What Happened

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped down prior to trading on Friday . The stock had previously closed at $69.23, but opened at $66.15. Kenon shares last traded at $65.8650, with a volume of 2,212 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Kenon from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold”.

Kenon Price Performance

The company has a current ratio of 3.22, a quick ratio of 3.74 and a debt-to-equity ratio of 0.82. The company has a market cap of $3.43 billion, a PE ratio of 63.32 and a beta of 1.09. The firm has a 50 day moving average of $66.95 and a two-hundred day moving average of $76.38.

Kenon (NYSE:KEN) last announced its quarterly earnings data on Tuesday, September 8th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter. Kenon had a return on equity of 4.46% and a net margin of 10.03%.The business had revenue of $379.00 million during the quarter.

Institutional Investors Weigh In On Kenon

Institutional investors have recently made changes to their positions in the company. Blue Trust Inc. purchased a new position in Kenon in the 1st quarter worth approximately $29,000. Raymond James Financial Inc. purchased a new position in shares of Kenon in the second quarter worth $32,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Kenon in the fourth quarter worth $202,000. PDT Partners LLC bought a new position in shares of Kenon during the fourth quarter valued at $232,000. Finally, Bank of America Corp DE boosted its position in shares of Kenon by 9.5% during the first quarter. Bank of America Corp DE now owns 5,383 shares of the utilities provider’s stock valued at $443,000 after buying an additional 467 shares during the last quarter. Hedge funds and other institutional investors own 13.38% of the company’s stock.

Kenon Company Profile

Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.