Kenon (NYSE:KEN) Reaches New 12-Month High – Here’s Why

Kenon Holdings Ltd. (NYSE:KEN)’s stock price hit a new 52-week high during trading on Monday . The stock traded as high as $31.05 and last traded at $31.05, with a volume of 2450 shares changing hands. The stock had previously closed at $30.92.

Kenon Stock Up 0.2 %

The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The company has a 50-day simple moving average of $28.26 and a 200 day simple moving average of $26.19. The company has a market cap of $1.67 billion, a P/E ratio of 9.62 and a beta of 1.44.

Kenon (NYSE:KEN) last posted its quarterly earnings results on Monday, September 9th. The utilities provider reported $0.02 EPS for the quarter. Kenon had a net margin of 22.88% and a return on equity of 2.93%. The firm had revenue of $181.00 million for the quarter.

Hedge Funds Weigh In On Kenon

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KEN. CWA Asset Management Group LLC purchased a new position in Kenon during the 3rd quarter worth approximately $504,000. Y.D. More Investments Ltd purchased a new position in Kenon during the second quarter valued at approximately $4,371,000. Assenagon Asset Management S.A. acquired a new position in Kenon in the second quarter valued at approximately $2,317,000. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Kenon by 3.7% during the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock worth $76,251,000 after purchasing an additional 97,256 shares during the period. Finally, Barclays PLC grew its position in Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after buying an additional 4,445 shares during the period. Hedge funds and other institutional investors 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.