Kenon (NYSE:KEN) Shares Gap Down – Time to Sell?

Shares of Kenon Holdings Ltd. (NYSE:KEN) gapped down prior to trading on Monday . The stock had previously closed at $30.05, but opened at $29.40. Kenon shares last traded at $28.77, with a volume of 22,208 shares trading hands.

Wall Street Analysts Forecast Growth

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

Kenon Price Performance

The stock has a market capitalization of $1.44 billion, a P/E ratio of 8.65 and a beta of 1.31. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78. The company’s 50-day simple moving average is $32.21 and its 200-day simple moving average is $30.59.

Kenon Increases Dividend

The company also recently announced an annual dividend, which will be paid on Monday, April 21st. Investors of record on Monday, April 14th will be paid a $4.80 dividend. This is an increase from Kenon’s previous annual dividend of $1.21. This represents a yield of 15.6%. The ex-dividend date is Monday, April 14th. Kenon’s dividend payout ratio (DPR) is 150.00%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Barclays PLC lifted its holdings in Kenon by 4,233.3% during the 3rd quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 4,445 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Kenon by 13.4% in the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after purchasing an additional 900 shares during the period. Anfield Capital Management LLC lifted its stake in shares of Kenon by 100.0% during the 4th quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock worth $317,000 after buying an additional 4,669 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of Kenon during the 3rd quarter worth about $365,000. Finally, Norges Bank bought a new stake in shares of Kenon during the 4th quarter worth about $458,000. 13.38% of the stock is currently owned by institutional investors.

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.