Kenon (NYSE:KEN) Reaches New 12-Month High – Should You Buy?

Kenon Holdings Ltd. (NYSE:KEN)’s share price hit a new 52-week high on Thursday . The stock traded as high as $63.10 and last traded at $62.8950, with a volume of 2576 shares trading hands. The stock had previously closed at $61.44.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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.com, the stock currently has a consensus rating of “Hold”.

Kenon Stock Performance

The stock’s 50-day moving average price is $55.83 and its 200-day moving average price is $47.79. The company has a current ratio of 4.66, a quick ratio of 4.66 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $3.35 billion, a P/E ratio of 83.45 and a beta of 1.20.

Kenon (NYSE:KEN) last released its quarterly earnings data on Wednesday, November 19th. The utilities provider reported $0.48 earnings per share 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. Raymond James Financial Inc. bought a new position in Kenon during the 2nd quarter worth $32,000. BNP Paribas Financial Markets raised its position in shares of Kenon by 9.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider’s stock worth $452,000 after buying an additional 900 shares in the last quarter. Jane Street Group LLC lifted its stake in shares of Kenon by 12.2% in the 2nd quarter. Jane Street Group LLC now owns 9,041 shares of the utilities provider’s stock worth $373,000 after acquiring an additional 984 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Kenon by 4.6% in the third quarter. JPMorgan Chase & Co. now owns 28,012 shares of the utilities provider’s stock valued at $1,265,000 after acquiring an additional 1,234 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC increased its stake in shares of Kenon by 17.0% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,130 shares of the utilities provider’s stock valued at $638,000 after acquiring an additional 2,048 shares during the period. Institutional investors and hedge funds own 13.38% of the company’s stock.

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.