StockNews.com Upgrades Kenon (NYSE:KEN) to Hold

StockNews.com upgraded shares of Kenon (NYSE:KEN - Free Report) from a sell rating to a hold rating in a research report sent to investors on Tuesday.

Kenon Stock Performance

KEN traded up $0.94 during trading hours on Tuesday, reaching $28.62. The company's stock had a trading volume of 23,686 shares, compared to its average volume of 13,597. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78. The company's 50-day moving average is $32.00 and its 200-day moving average is $30.63. Kenon has a 52 week low of $21.17 and a 52 week high of $35.49. The firm has a market cap of $1.49 billion, a PE ratio of 8.94 and a beta of 1.31.

Kenon Increases Dividend

The business also recently declared an annual dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be paid a $4.80 dividend. The ex-dividend date of this dividend is Monday, April 14th. This represents a yield of 15.6%. This is a positive change from Kenon's previous annual dividend of $1.21. Kenon's dividend payout ratio is 150.00%.

Institutional Investors Weigh In On Kenon

Institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of Kenon during the third quarter worth approximately $1,136,000. Barclays PLC grew its holdings in Kenon by 4,233.3% in the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider's stock valued at $127,000 after buying an additional 4,445 shares in the last quarter. BNP Paribas Financial Markets increased its position in Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider's stock worth $212,000 after buying an additional 900 shares during the period. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Kenon during the fourth quarter worth $746,000. Finally, Norges Bank bought a new stake in shares of Kenon in the fourth quarter valued at about $458,000. 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.