Kenon (NYSE:KEN) 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 report report published on Thursday morning.

Kenon Stock Performance

Shares of KEN opened at $20.89 on Thursday. The company has a debt-to-equity ratio of 0.66, a current ratio of 3.05 and a quick ratio of 3.05. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -4.73 and a beta of 1.45. The company has a 50-day moving average of $24.55 and a two-hundred day moving average of $23.31. Kenon has a one year low of $17.64 and a one year high of $30.65.

Kenon (NYSE:KEN) last posted its quarterly earnings results on Tuesday, March 26th. The utilities provider reported $0.11 EPS for the quarter. The business 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 business also recently declared a — dividend, which was paid on Monday, April 15th. Investors of record on Monday, April 8th were issued a dividend of $3.80 per share. This is a boost from Kenon’s previous — dividend of $2.79. This represents a dividend yield of 10.5%. The ex-dividend date of this dividend was Friday, April 5th. Kenon’s dividend payout ratio (DPR) is currently -85.97%.

Institutional Trading of Kenon

Institutional investors have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in Kenon by 1,100.0% during the fourth quarter. BNP Paribas Financial Markets now owns 1,200 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 1,100 shares in the last quarter. Scarborough Advisors LLC bought a new position in Kenon during the fourth quarter valued at approximately $39,000. Quantbot Technologies LP bought a new position in shares of Kenon in the second quarter valued at approximately $48,000. Barclays PLC bought a new position in shares of Kenon in the second quarter valued at approximately $90,000. Finally, State of Wyoming raised its position in shares of Kenon by 276.2% in the fourth quarter. State of Wyoming now owns 4,578 shares of the utilities provider’s stock valued at $151,000 after purchasing an additional 3,361 shares during the period. 13.38% of the stock is currently owned by institutional investors and hedge funds.

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.