Kenon (NYSE:KEN) Stock Rating Lowered by StockNews.com

Kenon (NYSE:KEN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Thursday.

Kenon Trading Up 1.1 %

Shares of KEN stock opened at $21.12 on Thursday. Kenon has a 12-month low of $17.64 and a 12-month high of $30.65. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $24.49 and a 200-day moving average of $23.29. The firm has a market cap of $1.14 billion, a P/E ratio of -4.78 and a beta of 1.45.

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

Hedge Funds Weigh In On Kenon

Large investors have recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Kenon by 353.1% in the 1st quarter. JPMorgan Chase & Co. now owns 84,412 shares of the utilities provider’s stock worth $5,733,000 after buying an additional 65,783 shares during the period. Raymond James & Associates grew its position in shares of Kenon by 16.0% in the first quarter. Raymond James & Associates now owns 7,260 shares of the utilities provider’s stock valued at $493,000 after purchasing an additional 1,000 shares in the last quarter. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Kenon during the 1st quarter valued at $807,000. Citigroup Inc. lifted its holdings in Kenon by 29.0% during the 1st quarter. Citigroup Inc. now owns 3,691 shares of the utilities provider’s stock worth $250,000 after purchasing an additional 829 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Kenon in the 1st quarter worth about $241,000. Hedge funds and other institutional investors 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.