Kenon (NYSE:KEN) Sets New 12-Month High – Still a Buy?

Kenon Holdings Ltd. (NYSE:KEN)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $34.33 and last traded at $34.00, with a volume of 28014 shares. The stock had previously closed at $31.92.

Kenon Stock Performance

The firm has a market cap of $1.74 billion, a price-to-earnings ratio of 10.08 and a beta of 1.44. The stock’s fifty day moving average is $29.79 and its two-hundred day moving average is $26.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 3.78 and a current ratio of 3.78.

Institutional Investors Weigh In On Kenon

A number of hedge funds have recently made changes to their positions in KEN. BNP Paribas Financial Markets raised its stake in Kenon by 13.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 7,600 shares of the utilities provider’s stock valued at $212,000 after acquiring an additional 900 shares in the last quarter. Barclays PLC raised its stake in shares of Kenon by 4,233.3% during the third quarter. Barclays PLC now owns 4,550 shares of the utilities provider’s stock valued at $127,000 after purchasing an additional 4,445 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of Kenon during the third quarter valued at about $365,000. CWA Asset Management Group LLC bought a new position in Kenon in the 3rd quarter valued at about $504,000. Finally, JPMorgan Chase & Co. acquired a new position in Kenon during the 3rd quarter valued at about $1,136,000. 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.