Kenon (NYSE:KEN) Hits New 1-Year High – Time to Buy?

Shares of Kenon Holdings Ltd. (NYSE:KEN) hit a new 52-week high during trading on Thursday . The company traded as high as $31.59 and last traded at $31.59, with a volume of 8442 shares traded. The stock had previously closed at $30.12.

Kenon Stock Up 4.9 %

The company’s 50 day moving average price is $29.14 and its two-hundred day moving average price is $26.64. The stock has a market cap of $1.70 billion, a P/E ratio of 9.88 and a beta of 1.44. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64.

Hedge Funds Weigh In On Kenon

Institutional investors have recently modified their holdings of the stock. Barclays PLC boosted its position in Kenon by 4,233.3% in the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after buying an additional 4,445 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after buying an additional 900 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new position in Kenon during the third quarter worth $365,000. CWA Asset Management Group LLC acquired a new stake in shares of Kenon during the 3rd quarter worth $504,000. Finally, Y.D. More Investments Ltd purchased a new position in shares of Kenon in the second quarter valued at $4,371,000. Hedge funds and other 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.