Kenon (NYSE:KEN) Share Price Passes Below 50-Day Moving Average – What’s Next?

Kenon Holdings Ltd. (NYSE:KEN)’s share price crossed below its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $85.64 and traded as low as $75.65. Kenon shares last traded at $76.6160, with a volume of 27,863 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded Kenon from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold”.

Kenon Stock Performance

The firm has a 50 day moving average of $85.32 and a two-hundred day moving average of $76.72. The stock has a market cap of $3.67 billion, a PE ratio of 67.73 and a beta of 1.06. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.74 and a quick ratio of 3.74.

Kenon (NYSE:KEN) last released its quarterly earnings results on Monday, June 1st. The utilities provider reported $0.49 EPS for the quarter. The company had revenue of $317.00 million for the quarter. Kenon had a return on equity of 3.47% and a net margin of 7.98%.

Kenon Announces Dividend

The company also recently declared an annual dividend, which was paid on Monday, April 20th. Shareholders of record on Monday, April 13th were given a dividend of $3.85 per share. The ex-dividend date of this dividend was Monday, April 13th. This represents a yield of 476.0%. Kenon’s payout ratio is 370.19%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in KEN. Goldman Sachs Group Inc. increased its holdings in shares of Kenon by 327.2% in the first quarter. Goldman Sachs Group Inc. now owns 122,589 shares of the utilities provider’s stock valued at $3,920,000 after purchasing an additional 93,896 shares during the period. Jane Street Group LLC acquired a new position in shares of Kenon in the first quarter valued at approximately $254,000. Norges Bank acquired a new position in shares of Kenon in the second quarter valued at approximately $566,000. Invesco Ltd. increased its holdings in shares of Kenon by 29.0% in the second quarter. Invesco Ltd. now owns 29,587 shares of the utilities provider’s stock valued at $1,229,000 after purchasing an additional 6,643 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Kenon by 10.4% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 377,731 shares of the utilities provider’s stock valued at $15,580,000 after purchasing an additional 35,533 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

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.