Quantinno Capital Management LP Has $4.94 Million Stock Position in Kinetik Holdings Inc. $KNTK

Quantinno Capital Management LP boosted its stake in shares of Kinetik Holdings Inc. (NYSE:KNTK) by 240.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 102,047 shares of the company’s stock after acquiring an additional 72,077 shares during the quarter. Quantinno Capital Management LP owned approximately 0.06% of Kinetik worth $4,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNTK. Zimmer Partners LP bought a new position in shares of Kinetik in the fourth quarter worth about $98,611,000. Wellington Management Group LLP grew its stake in shares of Kinetik by 149.6% during the fourth quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company’s stock valued at $57,983,000 after purchasing an additional 964,130 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Kinetik by 86.5% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock valued at $66,455,000 after purchasing an additional 855,000 shares during the last quarter. Cohen & Steers Inc. increased its holdings in shares of Kinetik by 82.5% in the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock valued at $66,458,000 after purchasing an additional 833,224 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Kinetik by 382.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,018,692 shares of the company’s stock valued at $36,724,000 after purchasing an additional 807,707 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Stock Performance

Shares of KNTK stock opened at $50.00 on Friday. Kinetik Holdings Inc. has a 52-week low of $31.33 and a 52-week high of $52.54. The stock has a market cap of $8.12 billion, a PE ratio of 18.12, a PEG ratio of 1.91 and a beta of 0.56. The firm’s 50 day moving average price is $48.25 and its two-hundred day moving average price is $46.57.

Kinetik (NYSE:KNTK) last issued its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.19 by $0.45. The company had revenue of $581.44 million during the quarter, compared to analysts’ expectations of $421.48 million. Kinetik had a net margin of 26.19% and a negative return on equity of 37.86%. The business’s revenue for the quarter was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS. As a group, sell-side analysts predict that Kinetik Holdings Inc. will post 0.81 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on KNTK. Mizuho boosted their price objective on shares of Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Jefferies Financial Group reiterated a “hold” rating and issued a $51.00 price objective on shares of Kinetik in a research report on Friday, May 8th. Zacks Research raised Kinetik from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. JPMorgan Chase & Co. boosted their target price on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 14th. Finally, Morgan Stanley set a $64.00 price target on Kinetik and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $51.47.

About Kinetik

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.