Kenon (NYSE:KEN) Shares Gap Up – Here’s What Happened

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped up before the market opened on Monday . The stock had previously closed at $77.89, but opened at $83.73. Kenon shares last traded at $84.2860, with a volume of 7,709 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Kenon in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Kenon Stock Down 1.1%

The firm has a market capitalization of $4.37 billion, a price-to-earnings ratio of 108.75 and a beta of 1.14. The business has a 50 day moving average of $73.29 and a 200 day moving average of $59.06. The company has a debt-to-equity ratio of 0.43, a current ratio of 4.66 and a quick ratio of 4.66.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEN. Clal Insurance Enterprises Holdings Ltd grew its position in Kenon by 1.0% in the fourth quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,449,184 shares of the utilities provider’s stock valued at $227,062,000 after acquiring an additional 35,518 shares during the period. Vanguard Group Inc. boosted its stake in shares of Kenon by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 756,785 shares of the utilities provider’s stock valued at $49,886,000 after purchasing an additional 6,021 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Kenon by 8.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 409,084 shares of the utilities provider’s stock worth $18,365,000 after purchasing an additional 31,353 shares during the last quarter. Y.D. More Investments Ltd increased its position in shares of Kenon by 9.1% during the 2nd quarter. Y.D. More Investments Ltd now owns 217,649 shares of the utilities provider’s stock worth $8,965,000 after purchasing an additional 18,177 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of Kenon by 7.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 148,723 shares of the utilities provider’s stock worth $6,685,000 after purchasing an additional 10,496 shares in the last quarter. Institutional investors 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.