StockNews.com Upgrades Kenon (NYSE:KEN) to Hold

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

Kenon Stock Performance

Shares of NYSE KEN traded down $0.68 during mid-day trading on Tuesday, hitting $27.68. 57,370 shares of the company were exchanged, compared to its average volume of 13,686. The stock has a 50 day simple moving average of $32.21 and a 200-day simple moving average of $30.59. Kenon has a 1-year low of $20.53 and a 1-year high of $35.49. The company has a quick ratio of 3.78, a current ratio of 3.78 and a debt-to-equity ratio of 0.64. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of 8.65 and a beta of 1.31.

Institutional Investors Weigh In On Kenon

A number of hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new stake in shares of Kenon in the 3rd quarter worth approximately $1,136,000. Barclays PLC lifted its stake in Kenon by 4,233.3% in the 3rd 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after buying an additional 900 shares during the last quarter. Redhawk Wealth Advisors Inc. purchased a new position in Kenon during the fourth quarter worth $746,000. Finally, Norges Bank acquired a new position in shares of Kenon in the fourth quarter worth $458,000. Institutional investors and hedge funds 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.