Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 45,428 shares of the firm’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $55.06, for a total value of $2,501,265.68. Following the completion of the transaction, the insider directly owned 797,136 shares of the company’s stock, valued at approximately $43,890,308.16. This trade represents a 5.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Isq Global Fund Ii Gp Llc also recently made the following trade(s):
- On Wednesday, August 26th, Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock. The stock was sold at an average price of $55.28, for a total transaction of $4,215,652.80.
- On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The shares were sold at an average price of $55.17, for a total transaction of $384,148.71.
- On Tuesday, August 18th, Isq Global Fund Ii Gp Llc sold 64,898 shares of Kinetik stock. The stock was sold at an average price of $54.32, for a total transaction of $3,525,259.36.
- On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The shares were sold at an average price of $55.07, for a total transaction of $171,102.49.
- On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The stock was sold at an average price of $52.78, for a total transaction of $7,130,683.56.
- On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The stock was sold at an average price of $53.48, for a total transaction of $5,998,316.80.
- On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The shares were sold at an average price of $51.60, for a total value of $5,834,670.00.
- On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The stock was sold at an average price of $51.52, for a total value of $4,363,795.52.
- On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The stock was sold at an average price of $52.03, for a total value of $7,675,257.48.
- On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The shares were sold at an average price of $50.87, for a total value of $3,991,972.38.
Kinetik Stock Up 0.4%
NYSE:KNTK traded up $0.22 during trading hours on Thursday, reaching $54.34. The company had a trading volume of 750,480 shares, compared to its average volume of 1,159,053. The stock has a 50-day moving average of $50.95 and a two-hundred day moving average of $48.31. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $56.10. The firm has a market capitalization of $8.82 billion, a PE ratio of 19.69, a PEG ratio of 1.36 and a beta of 0.57.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $55.00 target price on shares of Kinetik in a research note on Friday, August 7th. Scotiabank reaffirmed an “outperform” rating and set a $52.00 price target (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. Clear Str lowered Kinetik from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 17th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 target price on shares of Kinetik in a research note on Friday, May 8th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $57.00 price objective (up from $56.00) on shares of Kinetik in a research report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Kinetik has an average rating of “Moderate Buy” and a consensus target price of $53.27.
Get Our Latest Analysis on KNTK
Institutional Inflows and Outflows
A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Kinetik by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock worth $183,739,000 after purchasing an additional 439,586 shares during the period. California State Teachers Retirement System lifted its stake in Kinetik by 4,839.8% in the second quarter. California State Teachers Retirement System now owns 2,898,031 shares of the company’s stock valued at $140,091,000 after buying an additional 2,839,364 shares during the period. Zimmer Partners LP acquired a new position in Kinetik in the fourth quarter valued at about $98,611,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in Kinetik by 1.7% during the first quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,874,000 shares of the company’s stock worth $90,720,000 after buying an additional 30,600 shares during the last quarter. Finally, Cohen & Steers Inc. raised its position in shares of Kinetik by 82.5% in the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock valued at $66,458,000 after acquiring an additional 833,224 shares during the period. Institutional investors and hedge funds own 21.11% of the company’s stock.
Kinetik Company 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.
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