Kenon (NYSE:KEN) Upgraded by StockNews.com to Hold

Kenon (NYSE:KEN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Tuesday.

Kenon Stock Performance

Shares of KEN stock opened at $22.54 on Tuesday. The company has a market capitalization of $1.21 billion, a P/E ratio of -5.10 and a beta of 1.45. Kenon has a 12-month low of $17.64 and a 12-month high of $30.65. The business’s 50 day moving average is $23.83 and its two-hundred day moving average is $23.35. 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 released its quarterly earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $151.00 million for the quarter. Kenon had a negative net margin of 34.10% and a negative return on equity of 10.82%.

Hedge Funds Weigh In On Kenon

Several hedge funds and other institutional investors have recently made changes to their positions in KEN. Scarborough Advisors LLC acquired a new position in Kenon in the 4th quarter valued at $39,000. BNP Paribas Financial Markets raised its position in shares of Kenon by 150.0% in the first quarter. BNP Paribas Financial Markets now owns 3,000 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,800 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in shares of Kenon in the fourth quarter worth about $214,000. Citigroup Inc. lifted its stake in shares of Kenon by 14.9% in the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock worth $2,123,000 after buying an additional 12,153 shares in the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd boosted its position in Kenon by 1.2% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider’s stock worth $52,838,000 after acquiring an additional 27,294 shares during the last quarter. Hedge funds and other 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.