Kenon (NYSE:KEN) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Kenon (NYSE:KEN) from a sell rating to a hold rating in a report published on Tuesday.

Kenon Stock Performance

Shares of Kenon stock opened at $27.68 on Tuesday. The business has a fifty day simple moving average of $32.21 and a two-hundred day simple moving average of $30.59. The firm has a market capitalization of $1.44 billion, a P/E ratio of 8.65 and a beta of 1.31. The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. Kenon has a 12 month low of $20.53 and a 12 month high of $35.49.

Kenon Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, April 21st. Stockholders of record on Monday, April 14th will be issued a dividend of $4.80 per share. This represents a dividend yield of 15.6%. This is a positive change from Kenon’s previous annual dividend of $1.21. The ex-dividend date is Monday, April 14th. Kenon’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Trading of Kenon

Several hedge funds and other institutional investors have recently made changes to their positions in KEN. Barclays PLC boosted its holdings in Kenon by 4,233.3% in the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 4,445 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in shares of Kenon by 13.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 900 shares in the last quarter. Anfield Capital Management LLC boosted its position in shares of Kenon by 100.0% during the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock valued at $317,000 after buying an additional 4,669 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in Kenon during the 3rd quarter valued at about $365,000. Finally, Norges Bank purchased a new stake in shares of Kenon during the 4th quarter valued at about $458,000. 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.