Kenon (NYSE:KEN) Share Price Passes Above 50-Day Moving Average – What’s Next?

Kenon Holdings Ltd. (NYSE:KEN)’s stock price crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $31.65 and traded as high as $33.52. Kenon shares last traded at $33.34, with a volume of 11,190 shares trading hands.

Kenon Stock Down 2.6 %

The company has a current ratio of 3.78, a quick ratio of 3.78 and a debt-to-equity ratio of 0.64. The business has a 50-day moving average price of $31.69 and a 200-day moving average price of $28.70. The stock has a market cap of $1.74 billion, a PE ratio of 10.12 and a beta of 1.39.

Kenon (NYSE:KEN) last announced its earnings results on Thursday, December 5th. The utilities provider reported $0.81 earnings per share (EPS) for the quarter. Kenon had a net margin of 22.88% and a return on equity of 2.93%.

Institutional Trading of Kenon

Several institutional investors and hedge funds have recently bought and sold shares of KEN. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Kenon by 11.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 425,549 shares of the utilities provider’s stock worth $14,214,000 after buying an additional 43,694 shares in the last quarter. Bank of America Corp DE grew its position in shares of Kenon by 1,139.9% during the fourth quarter. Bank of America Corp DE now owns 22,764 shares of the utilities provider’s stock worth $774,000 after buying an additional 20,928 shares in the last quarter. Northern Trust Corp grew its position in shares of Kenon by 104.6% during the fourth quarter. Northern Trust Corp now owns 15,413 shares of the utilities provider’s stock worth $524,000 after buying an additional 7,881 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Kenon by 6.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 267,618 shares of the utilities provider’s stock worth $8,972,000 after buying an additional 15,677 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Kenon during the fourth quarter worth about $458,000. 13.38% of the stock is currently owned by hedge funds and other 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.