Kenon Holdings Ltd. (NYSE:KEN – Get Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $66.86, but opened at $69.71. Kenon shares last traded at $70.33, with a volume of 10,729 shares.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings cut shares of Kenon from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Kenon currently has an average rating of “Hold”.
Read Our Latest Stock Analysis on KEN
Kenon Stock Performance
Kenon (NYSE:KEN – Get Free Report) last announced its quarterly earnings results on Monday, June 1st. The utilities provider reported $0.49 earnings per share (EPS) for the quarter. Kenon had a net margin of 7.98% and a return on equity of 3.47%. The company had revenue of $317.00 million for the quarter.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Y.D. More Investments Ltd lifted its position in Kenon by 11.6% in the 4th quarter. Y.D. More Investments Ltd now owns 212,102 shares of the utilities provider’s stock valued at $13,963,000 after acquiring an additional 22,045 shares in the last quarter. Vanguard Group Inc. boosted its stake in Kenon by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 756,785 shares of the utilities provider’s stock valued at $49,886,000 after purchasing an additional 6,021 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kenon by 1.0% in the 4th quarter. Clal Insurance Enterprises Holdings Ltd now owns 3,449,184 shares of the utilities provider’s stock worth $227,062,000 after purchasing an additional 35,518 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Kenon by 6.5% in the 4th quarter. Thrivent Financial for Lutherans now owns 28,094 shares of the utilities provider’s stock worth $1,851,000 after purchasing an additional 1,703 shares in the last quarter. Finally, UBS Group AG raised its stake in shares of Kenon by 3.6% in the fourth quarter. UBS Group AG now owns 43,977 shares of the utilities provider’s stock worth $2,916,000 after purchasing an additional 1,510 shares during the last quarter. Institutional investors own 13.38% of the company’s stock.
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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