Kenon (NYSE:KEN) Shares Gap Down – Should You Sell?

by · The Cerbat Gem

Kenon Holdings Ltd. (NYSE:KEN – Get Free Report)’s share price gapped down before the market opened on Monday . The stock had previously closed at $31.07, but opened at $30.01. Kenon shares last traded at $29.92, with a volume of 8,827 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded shares of Kenon from a “hold” rating to a “sell” rating in a research report on Wednesday, April 23rd.

Get Our Latest Stock Report on Kenon

Kenon Stock Down 3.8 %

The company’s 50-day simple moving average is $31.55 and its two-hundred day simple moving average is $30.89. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78. The firm has a market capitalization of $1.56 billion, a P/E ratio of 9.34 and a beta of 1.31.

Kenon Increases Dividend

The business also recently announced an annual dividend, which was paid on Monday, April 21st. Investors of record on Monday, April 14th were paid a dividend of $4.80 per share. This represents a yield of 15.6%. This is a boost from Kenon’s previous annual dividend of $1.21. The ex-dividend date of this dividend was Monday, April 14th. Kenon’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Investors Weigh In On Kenon

A number of hedge funds have recently made changes to their positions in the company. Barclays PLC raised its holdings in shares of Kenon by 4,233.3% during the 3rd 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. Anfield Capital Management LLC grew its position in Kenon by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 4,669 shares in the last quarter. Norges Bank bought a new stake in shares of Kenon in the 4th quarter valued at approximately $458,000. Northern Trust Corp raised its holdings in Kenon by 104.6% during the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider’s stock valued at $524,000 after buying an additional 7,881 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in Kenon in the fourth quarter worth $746,000. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

About Kenon

(Get Free Report)

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.

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