Kenon (NYSE:KEN) Stock Rating Lowered by StockNews.com

Kenon (NYSE:KEN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a report released on Monday.

Kenon Trading Up 0.2 %

KEN stock opened at $22.39 on Monday. The company has a market cap of $1.21 billion, a P/E ratio of -5.07 and a beta of 1.45. Kenon has a twelve month low of $17.64 and a twelve month high of $30.65. The company has a quick ratio of 3.05, a current ratio of 3.05 and a debt-to-equity ratio of 0.66. The business has a fifty day moving average of $24.03 and a 200-day moving average of $23.29.

Kenon (NYSE:KEN) last released its earnings results on Tuesday, March 26th. The utilities provider reported $0.11 earnings per share for the quarter. The company 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 Investors Weigh In On Kenon

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Scarborough Advisors LLC bought a new stake in Kenon in the fourth quarter valued at about $39,000. CWA Asset Management Group LLC bought a new stake in Kenon in the fourth quarter valued at about $214,000. Citigroup Inc. increased its holdings in Kenon by 14.9% in the third quarter. Citigroup Inc. now owns 93,510 shares of the utilities provider’s stock valued at $2,123,000 after purchasing an additional 12,153 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings 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 purchasing an additional 63,374 shares during the last quarter. Finally, Clal Insurance Enterprises Holdings Ltd increased its holdings in Kenon by 1.2% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,296,068 shares of the utilities provider’s stock valued at $52,838,000 after purchasing an additional 27,294 shares during the last quarter. 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.