Kenon (NYSE:KEN) Posts Earnings Results

Kenon (NYSE:KEN) released its earnings results on Monday. The utilities provider reported $0.49 EPS for the quarter, Zacks reports. The company had revenue of $317.00 million during the quarter. Kenon had a return on equity of 3.59% and a net margin of 7.98%.

Kenon Trading Down 3.2%

KEN opened at $86.76 on Wednesday. The stock has a market cap of $4.52 billion, a PE ratio of 112.67 and a beta of 1.06. The company has a quick ratio of 4.94, a current ratio of 4.94 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $85.79 and a 200-day moving average of $75.68. Kenon has a 52 week low of $34.52 and a 52 week high of $95.93.

Kenon Dividend Announcement

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 $3.85 dividend. This represents a dividend yield of 476.0%. The ex-dividend date was Monday, April 13th. Kenon’s dividend payout ratio (DPR) is presently 500.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Kenon by 8.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 409,084 shares of the utilities provider’s stock valued at $18,365,000 after purchasing an additional 31,353 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in Kenon by 7.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 148,723 shares of the utilities provider’s stock valued at $6,685,000 after buying an additional 10,496 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in Kenon by 7.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 137,712 shares of the utilities provider’s stock valued at $9,132,000 after buying an additional 9,077 shares during the last quarter. LPL Financial LLC raised its stake in Kenon by 5.3% during the fourth quarter. LPL Financial LLC now owns 50,543 shares of the utilities provider’s stock valued at $3,352,000 after buying an additional 2,541 shares during the last quarter. Finally, UBS Group AG raised its stake in Kenon by 516.0% during the third quarter. UBS Group AG now owns 42,467 shares of the utilities provider’s stock valued at $1,918,000 after buying an additional 35,573 shares during the last quarter. 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.