StockNews.com Downgrades Kenon (NYSE:KEN) to Sell

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

Kenon Price Performance

NYSE:KEN traded down $1.86 during trading hours on Friday, hitting $30.63. 37,319 shares of the company’s stock traded hands, compared to its average volume of 13,170. The firm has a market cap of $1.65 billion, a P/E ratio of 9.57 and a beta of 1.33. 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 business’s fifty day simple moving average is $32.04 and its two-hundred day simple moving average is $30.22. Kenon has a 52 week low of $19.63 and a 52 week high of $35.33.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of KEN. Barclays PLC grew 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 worth $127,000 after buying an additional 4,445 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after acquiring an additional 900 shares during the last quarter. Anfield Capital Management LLC grew its position in Kenon by 100.0% in the fourth quarter. Anfield Capital Management LLC now owns 9,338 shares of the utilities provider’s stock worth $317,000 after acquiring an additional 4,669 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Kenon in the third quarter valued at $365,000. Finally, Norges Bank purchased a new stake in Kenon during the fourth quarter valued at 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.