Kenon (NYSE:KEN) Reaches New 12-Month High – Time to Buy?

Shares of Kenon Holdings Ltd. (NYSE:KEN) hit a new 52-week high during trading on Monday . The stock traded as high as $67.69 and last traded at $68.91, with a volume of 24727 shares trading hands. The stock had previously closed at $66.31.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Kenon in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Kenon Stock Up 2.0%

The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.43. The stock has a market cap of $3.59 billion, a P/E ratio of 89.36 and a beta of 1.17. The company’s 50 day moving average price is $59.25 and its two-hundred day moving average price is $50.06.

Kenon (NYSE:KEN) last released its quarterly earnings results on Wednesday, November 19th. The utilities provider reported $0.48 earnings per share for the quarter. The business had revenue of $265.00 million for the quarter. Kenon had a net margin of 59.34% and a negative return on equity of 2.81%.

Institutional Trading of Kenon

Hedge funds have recently modified their holdings of the company. Clal Insurance Enterprises Holdings Ltd boosted its position in shares of Kenon by 4.0% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider’s stock valued at $153,130,000 after acquiring an additional 132,522 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Kenon by 8.3% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 409,084 shares of the utilities provider’s stock valued at $18,365,000 after buying an additional 31,353 shares in the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Kenon by 9.1% in the 2nd quarter. Y.D. More Investments Ltd now owns 217,649 shares of the utilities provider’s stock valued at $8,965,000 after acquiring an additional 18,177 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Kenon by 7.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 148,723 shares of the utilities provider’s stock worth $6,685,000 after acquiring an additional 10,496 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Kenon by 327.2% in the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock worth $3,920,000 after acquiring an additional 93,896 shares in the last quarter. 13.38% of the stock is owned by hedge funds and other institutional investors.

About Kenon

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.