Kenon (NYSE:KEN) Shares Gap Down – Here’s Why

Kenon Holdings Ltd. (NYSE:KEN)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $91.45, but opened at $85.60. Kenon shares last traded at $84.5510, with a volume of 4,203 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kenon in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, Kenon currently has a consensus rating of “Hold”.

Kenon Stock Performance

The firm’s 50 day moving average price is $84.62 and its 200-day moving average price is $73.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.94 and a current ratio of 4.94. The firm has a market capitalization of $4.43 billion, a PE ratio of 110.32 and a beta of 1.09.

Kenon (NYSE:KEN) last posted its earnings results on Monday, March 30th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter. Kenon had a net margin of 7.60% and a return on equity of 3.17%. The business had revenue of $227.93 million for the quarter.

Kenon Announces Dividend

The company also recently announced an annual dividend, which was paid on Monday, April 20th. Stockholders of record on Monday, April 13th were paid a dividend of $3.85 per share. This represents a dividend yield of 476.0%. The ex-dividend date of this dividend was Monday, April 13th. Kenon’s dividend payout ratio is presently 500.00%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Blue Trust Inc. purchased a new position in shares of Kenon during the 1st quarter valued at approximately $29,000. Raymond James Financial Inc. purchased a new position in shares of Kenon during the 2nd quarter valued at approximately $32,000. Susquehanna Advisors Group Inc. purchased a new position in shares of Kenon during the 4th quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Kenon by 24.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock valued at $206,000 after buying an additional 610 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in shares of Kenon during the 4th quarter valued at approximately $232,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About Kenon

Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.

One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.