Renaissance Technologies LLC raised its stake in Kenon Holdings Ltd. (NYSE:KEN – Free Report) by 61.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,000 shares of the utilities provider’s stock after purchasing an additional 10,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Kenon were worth $2,306,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Wells Fargo & Company MN grew its holdings in shares of Kenon by 4.8% in the fourth quarter. Wells Fargo & Company MN now owns 7,647 shares of the utilities provider’s stock worth $507,000 after purchasing an additional 350 shares during the last quarter. Blue Trust Inc. bought a new stake in Kenon during the 1st quarter valued at $29,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Kenon by 24.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,126 shares of the utilities provider’s stock valued at $206,000 after buying an additional 610 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Kenon during the 2nd quarter valued at $32,000. Finally, BNP Paribas Financial Markets boosted its position in Kenon by 9.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 10,000 shares of the utilities provider’s stock valued at $452,000 after buying an additional 900 shares during the period. Hedge funds and other institutional investors own 13.38% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings lowered shares of Kenon from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, June 26th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Kenon has a consensus rating of “Hold”.
Kenon Stock Performance
Shares of KEN stock opened at $64.32 on Tuesday. Kenon Holdings Ltd. has a 12 month low of $41.50 and a 12 month high of $95.93. The stock has a market cap of $3.35 billion, a PE ratio of 61.84 and a beta of 1.12. The company has a current ratio of 3.74, a quick ratio of 3.74 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average price is $69.02 and its 200-day moving average price is $77.78.
Kenon (NYSE:KEN – Get Free Report) last released its earnings results on Monday, June 1st. The utilities provider reported $0.49 earnings per share for the quarter. The firm had revenue of $317.00 million for the quarter. Kenon had a net margin of 7.98% and a return on equity of 3.47%.
About Kenon
Kenon Holdings Ltd. (NYSE: KEN) is a global investment holding company incorporated in Jersey, Channel Islands, with listings on the New York Stock Exchange and the Tel Aviv Stock Exchange. The company focuses on infrastructure and energy-related businesses, seeking to generate long-term value through stable cash flows and strategic growth. Kenon’s diversified portfolio spans power generation assets, midstream energy infrastructure and related services across multiple regions.
One of Kenon’s principal assets is QPI Ltd., an energy company based in Israel that owns and operates a combined-cycle, gas-fired power plant and an adjacent liquefied natural gas (LNG) import and regasification terminal at the Port of Ashdod.
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