Kenon Holdings Ltd. (NYSE:KEN) Sees Large Drop in Short Interest
by Danessa Lincoln · The Markets DailyKenon Holdings Ltd. (NYSE:KEN – Get Free Report) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 22,579 shares, a drop of 34.6% from the March 15th total of 34,534 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily volume of 20,543 shares, the days-to-cover ratio is presently 1.1 days.
Institutional Investors Weigh In On Kenon
A number of hedge funds have recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in Kenon in the second quarter valued at about $32,000. Susquehanna Advisors Group Inc. bought a new position in shares of Kenon in the fourth quarter valued at approximately $202,000. Zurcher Kantonalbank Zurich Cantonalbank raised 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 valued at $206,000 after acquiring an additional 610 shares during the last quarter. PDT Partners LLC acquired a new position in shares of Kenon in the 4th quarter worth approximately $232,000. Finally, Jane Street Group LLC acquired a new position in shares of Kenon in the 1st quarter worth approximately $254,000. Institutional investors and hedge funds own 13.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kenon in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the company currently has a consensus rating of “Hold”.
View Our Latest Analysis on KEN
Kenon Price Performance
Shares of KEN stock traded down $0.73 during trading hours on Thursday, hitting $81.37. The company had a trading volume of 17,892 shares, compared to its average volume of 23,829. Kenon has a 12 month low of $27.50 and a 12 month high of $89.89. The company has a debt-to-equity ratio of 0.52, a quick ratio of 4.94 and a current ratio of 4.94. The firm’s fifty day moving average is $81.92 and its 200 day moving average is $67.40. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 105.67 and a beta of 1.08.
Kenon (NYSE:KEN – Get Free Report) last posted its earnings results on Monday, March 30th. The utilities provider reported $0.50 EPS for the quarter. Kenon had a return on equity of 3.17% and a net margin of 7.60%.The business had revenue of $227.93 million during the quarter.
Kenon Announces Dividend
The company also recently announced an annual dividend, which will be paid on Monday, April 20th. Stockholders of record on Monday, April 13th will be paid a $3.85 dividend. This represents a dividend yield of 476.0%. The ex-dividend date is Monday, April 13th. Kenon’s payout ratio is currently 500.00%.
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.