Kenon (NYSE:KEN) Sets New 52-Week High – Time to Buy?

Kenon Holdings Ltd. (NYSE:KEN) shares hit a new 52-week high on Wednesday . The stock traded as high as $76.87 and last traded at $76.2030, with a volume of 2751 shares. The stock had previously closed at $74.70.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Kenon in a report on Thursday, January 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Kenon currently has an average rating of “Hold”.

Kenon Trading Up 0.6%

The firm has a fifty day moving average of $66.18 and a 200 day moving average of $54.35. The firm has a market capitalization of $3.92 billion, a PE ratio of 97.96 and a beta of 1.15. The company has a debt-to-equity ratio of 0.43, a quick ratio of 4.66 and a current ratio of 4.66.

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

Institutional Investors Weigh In On Kenon

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KEN. UBS Group AG lifted its holdings in Kenon by 3.6% in the 4th quarter. UBS Group AG now owns 43,977 shares of the utilities provider’s stock worth $2,916,000 after buying an additional 1,510 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Kenon by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 756,785 shares of the utilities provider’s stock worth $49,886,000 after acquiring an additional 6,021 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Kenon by 24.2% in the fourth 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. Y.D. More Investments Ltd lifted its stake in shares of Kenon by 11.6% in the fourth quarter. Y.D. More Investments Ltd now owns 212,102 shares of the utilities provider’s stock worth $13,963,000 after acquiring an additional 22,045 shares in the last quarter. Finally, Sowell Financial Services LLC boosted its holdings in Kenon by 6.5% in the fourth quarter. Sowell Financial Services LLC now owns 31,076 shares of the utilities provider’s stock valued at $2,061,000 after purchasing an additional 1,908 shares during the last quarter. Hedge funds and other 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.