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

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped down before the market opened on Thursday . The stock had previously closed at $35.97, but opened at $34.87. Kenon shares last traded at $34.78, with a volume of 3,876 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded Kenon from a “hold” rating to a “sell” rating in a research note on Thursday, May 15th.

Kenon Trading Down 1.3%

The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 10.83 and a beta of 1.12. The firm has a 50-day moving average price of $32.60 and a 200 day moving average price of $31.99.

Kenon (NYSE:KEN) last announced its quarterly earnings data on Wednesday, May 28th. The utilities provider reported $0.22 earnings per share (EPS) for the quarter. Kenon had a return on equity of 2.93% and a net margin of 22.88%. The firm had revenue of $183.00 million for the quarter.

Kenon Increases Dividend

The firm also recently declared an annual dividend, which was paid on Monday, April 21st. Stockholders of record on Monday, April 14th were given a $4.80 dividend. This is an increase from Kenon’s previous annual dividend of $1.21. This represents a dividend yield of 15.6%. The ex-dividend date was Monday, April 14th. Kenon’s dividend payout ratio (DPR) is presently 150.00%.

Institutional Investors Weigh In On Kenon

A number of institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Kenon in the first quarter worth about $254,000. Anfield Capital Management LLC raised its position in shares of Kenon by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock worth $317,000 after purchasing an additional 4,669 shares during the period. Norges Bank bought a new stake in shares of Kenon in the 4th quarter worth approximately $458,000. Northern Trust Corp lifted its holdings in shares of Kenon by 104.6% in the 4th quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider’s stock worth $524,000 after purchasing an additional 7,881 shares during the last quarter. Finally, Nuveen LLC acquired a new position in Kenon during the 1st quarter valued at approximately $575,000. 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.