Kenon (NYSE:KEN) Sees Large Volume Increase – Here’s What Happened

Shares of Kenon Holdings Ltd. (NYSE:KEN) saw unusually-high trading volume on Wednesday . Approximately 22,727 shares traded hands during mid-day trading, an increase of 5% from the previous session’s volume of 21,594 shares.The stock last traded at $93.9550 and had previously closed at $89.45.

Kenon Stock Down 2.6%

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 $4.80 billion, a PE ratio of 119.52 and a beta of 1.09. The company has a fifty day moving average price of $85.65 and a 200-day moving average price of $75.19.

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

Kenon Dividend Announcement

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Blue Trust Inc. bought a new position in Kenon during the 1st quarter valued at about $29,000. Raymond James Financial Inc. bought a new stake in Kenon during the 2nd quarter valued at about $32,000. Susquehanna Advisors Group Inc. purchased a new stake in Kenon in the 4th quarter valued at about $202,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Kenon by 24.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock worth $206,000 after acquiring an additional 610 shares in the last quarter. Finally, PDT Partners LLC bought a new position in Kenon in the 4th quarter worth about $232,000. 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.