Kinetik Holdings Inc. $KNTK Position Increased by SG Americas Securities LLC

SG Americas Securities LLC grew its holdings in shares of Kinetik Holdings Inc. (NYSE:KNTK) by 92.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 274,447 shares of the company’s stock after purchasing an additional 131,971 shares during the period. SG Americas Securities LLC’s holdings in Kinetik were worth $13,286,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Zimmer Partners LP acquired a new position in shares of Kinetik in the 4th quarter valued at about $98,611,000. Brave Warrior Advisors LLC acquired a new stake in Kinetik during the third quarter worth about $68,766,000. Wellington Management Group LLP lifted its holdings in Kinetik by 149.6% in the fourth quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company’s stock worth $57,983,000 after acquiring an additional 964,130 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Kinetik by 86.5% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock worth $66,455,000 after acquiring an additional 855,000 shares during the last quarter. Finally, Cohen & Steers Inc. lifted its holdings in Kinetik by 82.5% in the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock worth $66,458,000 after acquiring an additional 833,224 shares during the last quarter. 21.11% of the stock is currently owned by institutional investors.

Kinetik Trading Up 2.9%

KNTK opened at $49.40 on Friday. The business’s 50 day moving average is $47.90 and its 200-day moving average is $43.79. The stock has a market cap of $8.02 billion, a PE ratio of 20.16, a price-to-earnings-growth ratio of 2.48 and a beta of 0.57. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $51.51.

Kinetik (NYSE:KNTK) last released its earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The company had revenue of $409.98 million for the quarter. During the same quarter last year, the firm posted $0.05 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. As a group, analysts forecast that Kinetik Holdings Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the firm’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total transaction of $27,006,173.28. Following the completion of the sale, the insider directly owned 428,894 shares of the company’s stock, valued at $21,667,724.88. This trade represents a 55.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 1,071,107 shares of company stock worth $53,172,463 over the last ninety days. 3.56% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on KNTK. Mizuho upped their target price on Kinetik from $48.00 to $51.00 and gave the company an “outperform” rating in a report on Tuesday, April 28th. Truist Financial assumed coverage on Kinetik in a research report on Tuesday, March 24th. They set a “buy” rating and a $53.00 price target on the stock. Wall Street Zen downgraded Kinetik from a “sell” rating to a “strong sell” rating in a report on Sunday, May 17th. Jefferies Financial Group restated a “hold” rating and set a $51.00 price objective on shares of Kinetik in a research report on Friday, May 8th. Finally, UBS Group lowered their price objective on Kinetik from $49.00 to $48.00 and set a “neutral” rating for the company in a research note on Monday, March 16th. Two research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.17.

Kinetik Profile

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.