Kenon (NYSE:KEN) Sees Unusually-High Trading Volume - Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN - Get Free Report) shares saw unusually-high trading volume on Wednesday . Approximately 34,848 shares changed hands during mid-day trading, an increase of 177% from the previous session's volume of 12,570 shares.The stock last traded at $31.71 and had previously closed at $31.61.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Kenon from a "hold" rating to a "sell" rating in a report on Friday, April 4th.

Kenon Price Performance

The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64. The business's 50-day moving average is $32.35 and its two-hundred day moving average is $30.60. The company has a market capitalization of $1.49 billion, a P/E ratio of 8.91 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. Stockholders of record on Monday, April 14th will be paid a dividend of $4.80 per share. The ex-dividend date is Monday, April 14th. This represents a dividend yield of 15.6%. This is a positive change from Kenon's previous annual dividend of $1.21. Kenon's dividend payout ratio (DPR) is presently 150.00%.

Institutional Investors Weigh In On Kenon

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in shares of Kenon by 13.4% in the third 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 in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Kenon in the 3rd quarter worth approximately $365,000. Barclays PLC boosted its position in Kenon by 4,233.3% during the third 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 during the period. JPMorgan Chase & Co. bought a new position in Kenon during the 3rd quarter worth approximately $1,136,000. Finally, CWA Asset Management Group LLC increased its stake in shares of Kenon by 25.7% in the fourth quarter. CWA Asset Management Group LLC now owns 22,666 shares of the utilities provider's stock worth $771,000 after buying an additional 4,632 shares during the period. 13.38% of the stock is currently owned by institutional investors.

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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.