Kenon (NYSE:KEN) Lowered to Sell at StockNews.com

Kenon (NYSE:KEN) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Monday.

Kenon Stock Down 0.0 %

Shares of NYSE:KEN traded down $0.01 during midday trading on Monday, reaching $22.24. 8,385 shares of the company were exchanged, compared to its average volume of 21,834. The firm has a market cap of $1.20 billion, a PE ratio of -5.03 and a beta of 1.45. Kenon has a fifty-two week low of $17.64 and a fifty-two week high of $30.65. The stock has a fifty day simple moving average of $24.09 and a two-hundred day simple moving average of $23.29. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66.

Kenon (NYSE:KEN) last released its 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 during the quarter. Kenon had a negative return on equity of 10.82% and a negative net margin of 34.10%.

Institutional Trading of Kenon

A number of institutional investors have recently made changes to their positions in the business. Clal Insurance Enterprises Holdings Ltd raised its stake in shares of Kenon by 3.3% during the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,371,960 shares of the utilities provider’s stock worth $57,746,000 after purchasing an additional 75,892 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Kenon by 143.9% in the third quarter. Assenagon Asset Management S.A. now owns 107,404 shares of the utilities provider’s stock valued at $2,483,000 after acquiring an additional 63,374 shares during the last quarter. Citigroup Inc. grew its position in shares of Kenon by 14.9% in the 3rd quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after acquiring an additional 12,153 shares during the period. CWA Asset Management Group LLC acquired a new position in shares of Kenon during the 4th quarter worth about $214,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Kenon during the 4th quarter worth about $39,000. 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.