Kenon (NYSE:KEN) Sees Strong Trading Volume – What’s Next?

Kenon Holdings Ltd. (NYSE:KEN) shares saw unusually-strong trading volume on Tuesday . Approximately 8,486 shares changed hands during mid-day trading, a decline of 37% from the previous session’s volume of 13,559 shares.The stock last traded at $27.80 and had previously closed at $28.35.

Analyst Ratings Changes

Separately, StockNews.com raised shares of Kenon from a “sell” rating to a “hold” rating in a research report on Tuesday.

Kenon Price Performance

The firm has a market capitalization of $1.44 billion, a P/E ratio of 8.66 and a beta of 1.31. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78. The stock has a 50 day moving average of $32.13 and a two-hundred day moving average of $30.57.

Kenon Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be issued a dividend of $4.80 per share. This is an increase from Kenon’s previous annual dividend of $1.21. This represents a dividend yield of 15.6%. The ex-dividend date of this dividend is Monday, April 14th. Kenon’s dividend payout ratio is currently 150.00%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of KEN. Clal Insurance Enterprises Holdings Ltd lifted its position in shares of Kenon by 3.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,782,978 shares of the utilities provider’s stock worth $92,868,000 after purchasing an additional 88,762 shares during the last quarter. Vanguard Group Inc. increased its position in Kenon by 2.0% in the 4th quarter. Vanguard Group Inc. now owns 759,732 shares of the utilities provider’s stock worth $25,370,000 after buying an additional 15,249 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Kenon by 11.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock worth $14,214,000 after buying an additional 43,694 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in Kenon by 6.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock valued at $8,972,000 after purchasing an additional 15,677 shares during the period. Finally, Y.D. More Investments Ltd lifted its stake in shares of Kenon by 2.8% in the fourth quarter. Y.D. More Investments Ltd now owns 206,333 shares of the utilities provider’s stock valued at $6,885,000 after buying an additional 5,705 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

Kenon Company Profile

Kenon Holdings Ltd., through its subsidiaries, operates as an owner, developer, and operator of power generation facilities in Israel, the United States, and internationally. It operates through OPC Power Plants, CPV Group, and ZIM segments. The company engages in the generation and supply of electricity and energy; development, construction, and management of solar and wind energy, and conventional natural gas-fired power plants; and provision of container liner shipping services.