Kenon (NYSE:KEN) Shares Up 3.1% – What’s Next?

Shares of Kenon Holdings Ltd. (NYSE:KEN) shot up 3.1% on Monday . The stock traded as high as $66.39 and last traded at $66.2990. 2,656 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 16,354 shares. The stock had previously closed at $64.29.

Analyst Upgrades and Downgrades

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

Kenon Trading Up 3.0%

The stock has a 50-day moving average price of $57.49 and a two-hundred day moving average price of $48.97. The stock has a market capitalization of $3.45 billion, a PE ratio of 86.06 and a beta of 1.20. 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 announced its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.48 earnings per share (EPS) for the quarter. The firm 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%.

Hedge Funds Weigh In On Kenon

Several large investors have recently made changes to their positions in KEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Kenon by 8.3% during the third 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Kenon by 7.6% in 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. UBS Group AG boosted its stake in Kenon by 516.0% in the 3rd quarter. UBS Group AG now owns 42,467 shares of the utilities provider’s stock worth $1,918,000 after purchasing an additional 35,573 shares during the period. BNP Paribas Financial Markets grew its holdings in Kenon by 9.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider’s stock valued at $452,000 after buying an additional 900 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd raised its position in shares of Kenon by 4.0% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,413,666 shares of the utilities provider’s stock valued at $153,130,000 after buying an additional 132,522 shares during the last quarter. 13.38% of the stock is currently owned by hedge funds and other institutional investors.

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.