Kenon (NYSE:KEN) Hits New 12-Month High – Should You Buy?

Kenon Holdings Ltd. (NYSE:KEN)’s stock price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $29.49 and last traded at $29.49, with a volume of 3361 shares traded. The stock had previously closed at $28.89.

Kenon Price Performance

The stock has a market cap of $1.56 billion, a P/E ratio of -20.14 and a beta of 1.45. The firm has a 50-day moving average price of $27.03 and a 200-day moving average price of $25.50. The company has a debt-to-equity ratio of 0.69, a quick ratio of 3.08 and a current ratio of 3.08.

Kenon (NYSE:KEN) last announced its earnings results on Monday, September 9th. The utilities provider reported $0.02 earnings per share (EPS) for the quarter. Kenon had a negative return on equity of 9.48% and a negative net margin of 10.61%. The firm had revenue of $181.00 million during the quarter.

Institutional Trading of Kenon

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Clal Insurance Enterprises Holdings Ltd grew its stake in shares of Kenon by 3.7% in the 3rd quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock worth $76,251,000 after buying an additional 97,256 shares during the last quarter. Y.D. More Investments Ltd purchased a new stake in Kenon during the 2nd quarter valued at $4,371,000. Assenagon Asset Management S.A. purchased a new stake in Kenon during the 2nd quarter valued at $2,317,000. CWA Asset Management Group LLC purchased a new stake in Kenon during the 3rd quarter valued at $504,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in Kenon during the 3rd quarter valued at $365,000. Hedge funds and other 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.