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

StockNews.com downgraded shares of Kenon (NYSE:KEN) from a hold rating to a sell rating in a research note released on Monday morning.

Kenon Stock Performance

Shares of NYSE:KEN opened at $22.24 on Monday. The company has a 50 day moving average of $24.09 and a 200 day moving average of $23.29. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. Kenon has a 12 month low of $17.64 and a 12 month high of $30.65.

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

Kenon Increases Dividend

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

Institutional Trading of Kenon

A number of large investors have recently modified their holdings of the business. Scarborough Advisors LLC bought a new position in shares of Kenon in the fourth quarter worth approximately $39,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kenon by 3.3% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock worth $57,746,000 after buying an additional 75,892 shares during the last quarter. CWA Asset Management Group LLC bought a new position in shares of Kenon in the 4th quarter worth $214,000. Citigroup Inc. raised its position in shares of Kenon by 14.9% during the 3rd quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after buying an additional 12,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position 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 worth $2,483,000 after acquiring an additional 63,374 shares in the last quarter. Institutional investors own 13.38% of the company’s stock.

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.