Kenon (NYSE:KEN) Reaches New 1-Year High – Should You Buy?

Kenon Holdings Ltd. (NYSE:KEN)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $70.87 and last traded at $70.5050, with a volume of 4563 shares trading hands. The stock had previously closed at $67.98.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Kenon in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Kenon Stock Up 3.3%

The stock has a 50-day moving average price of $63.30 and a 200-day moving average price of $52.58. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.66 and a quick ratio of 4.66. The company has a market capitalization of $3.66 billion, a P/E ratio of 91.23 and a beta of 1.17.

Kenon (NYSE:KEN) last released its earnings results on Wednesday, November 19th. The utilities provider reported $0.48 earnings per share for the quarter. The business had revenue of $265.00 million during the quarter. Kenon had a net margin of 59.34% and a negative return on equity of 2.81%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in KEN. Goldman Sachs Group Inc. grew its stake in Kenon by 327.2% during the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock worth $3,920,000 after purchasing an additional 93,896 shares during the period. Jane Street Group LLC bought a new position in shares of Kenon during the 1st quarter worth approximately $254,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Kenon during the 2nd quarter worth approximately $502,000. Y.D. More Investments Ltd increased its stake in shares of Kenon by 9.1% in the 2nd quarter. Y.D. More Investments Ltd now owns 217,649 shares of the utilities provider’s stock valued at $8,965,000 after acquiring an additional 18,177 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Kenon by 7.7% during the 2nd quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,281,144 shares of the utilities provider’s stock valued at $135,157,000 after acquiring an additional 234,166 shares during the period. 13.38% of the stock is owned by institutional investors.

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.