Kenon (NYSE:KEN) Shares Gap Down to $23.26

Kenon Holdings Ltd. (NYSE:KEN) shares gapped down before the market opened on Monday . The stock had previously closed at $23.26, but opened at $22.21. Kenon shares last traded at $22.31, with a volume of 11,135 shares changing hands.

Analysts Set New Price Targets

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

Kenon Price Performance

The stock has a 50 day moving average of $23.78 and a 200-day moving average of $23.37. The stock has a market capitalization of $1.23 billion, a P/E ratio of -5.16 and a beta of 1.45. The company has a current ratio of 3.05, a quick ratio of 3.05 and a debt-to-equity ratio of 0.66.

Kenon (NYSE:KEN) last issued its earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter. Kenon had a negative net margin of 34.10% and a negative return on equity of 10.82%. The firm had revenue of $151.00 million during the quarter.

Kenon Increases Dividend

The firm also recently declared a — dividend, which was paid on Monday, April 15th. Stockholders of record on Monday, April 8th were issued a $3.80 dividend. The ex-dividend date was Friday, April 5th. This represents a dividend yield of 10.5%. This is a positive change from Kenon’s previous — dividend of $2.79. Kenon’s payout ratio is currently -85.97%.

Hedge Funds Weigh In On Kenon

A number of large investors have recently bought and sold shares of KEN. Scarborough Advisors LLC acquired a new position in shares of Kenon during the fourth quarter worth $39,000. BNP Paribas Financial Markets boosted its holdings in Kenon by 150.0% in the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,800 shares in the last quarter. CWA Asset Management Group LLC purchased a new stake in shares of Kenon during the fourth quarter worth about $214,000. Citigroup Inc. increased its holdings in shares of Kenon by 14.9% during the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after acquiring an additional 12,153 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in Kenon by 143.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock worth $2,483,000 after purchasing an additional 63,374 shares during the last quarter. Institutional investors own 13.38% of the company’s stock.

About Kenon

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.