Kenon (NYSE:KEN) Posts Earnings Results

Kenon (NYSE:KEN) released its quarterly earnings results on Tuesday. The utilities provider reported $0.85 earnings per share for the quarter, Zacks reports. The business had revenue of $379.00 million during the quarter. Kenon had a net margin of 7.98% and a return on equity of 3.47%.

Kenon Stock Down 0.8%

Shares of Kenon stock opened at $68.61 on Wednesday. Kenon has a 12-month low of $41.50 and a 12-month high of $95.93. The firm has a market capitalization of $3.58 billion, a PE ratio of 65.97 and a beta of 1.09. The company has a quick ratio of 3.74, a current ratio of 3.74 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $67.00 and its 200-day moving average is $76.56.

Institutional Trading of Kenon

Several hedge funds and other institutional investors have recently modified their holdings of KEN. Raymond James Financial Inc. purchased a new position in Kenon during the second quarter valued at approximately $32,000. Susquehanna Advisors Group Inc. acquired a new position in Kenon during the 4th quarter worth $202,000. PDT Partners LLC acquired a new position in shares of Kenon during the 4th quarter worth about $232,000. Tidal Investments LLC bought a new stake in shares of Kenon in the second quarter valued at approximately $256,000. Finally, Wells Fargo & Company MN boosted its holdings in Kenon by 4.8% in the 4th quarter. Wells Fargo & Company MN now owns 7,647 shares of the utilities provider’s stock valued at $507,000 after purchasing an additional 350 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Kenon from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, June 26th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Kenon Company Profile

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.