Kenon (NYSE:KEN) Sets New 52-Week High – What’s Next?

Kenon Holdings Ltd. (NYSE:KEN)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $31.59 and last traded at $31.59, with a volume of 8442 shares trading hands. The stock had previously closed at $30.12.

Kenon Stock Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 3.78 and a quick ratio of 3.78. The company’s fifty day simple moving average is $29.14 and its two-hundred day simple moving average is $26.64. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of 9.88 and a beta of 1.44.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Y.D. More Investments Ltd purchased a new stake in shares of Kenon during the 2nd quarter valued at $4,371,000. CWA Asset Management Group LLC bought a new stake in shares of Kenon in the 3rd quarter worth approximately $504,000. Clal Insurance Enterprises Holdings Ltd increased its holdings in shares of Kenon by 3.7% during the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 2,694,216 shares of the utilities provider’s stock valued at $76,251,000 after acquiring an additional 97,256 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Kenon by 13.4% in the third quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock worth $212,000 after purchasing an additional 900 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in Kenon during the third quarter valued at approximately $365,000. Hedge funds and other institutional investors own 13.38% of the company’s stock.

About Kenon

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.