Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 295,761 shares of the company’s stock after selling 23,177 shares during the period. Advisors Asset Management Inc.’s holdings in Kinetik were worth $16,773,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fifth Third Bancorp acquired a new position in Kinetik during the fourth quarter valued at approximately $26,000. Canton Hathaway LLC acquired a new position in Kinetik during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC lifted its position in shares of Kinetik by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares in the last quarter. Rialto Wealth Management LLC bought a new stake in shares of Kinetik in the fourth quarter worth $34,000. Finally, EverSource Wealth Advisors LLC bought a new stake in shares of Kinetik in the fourth quarter worth $67,000. 21.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.63, for a total transaction of $219,873,736.53. Following the sale, the insider now owns 1,044,520 shares in the company, valued at approximately $58,106,647.60. The trade was a 79.10 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.71% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Scotiabank dropped their price target on shares of Kinetik from $62.00 to $60.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 6th. Royal Bank of Canada dropped their price target on shares of Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. The Goldman Sachs Group boosted their target price on shares of Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Kinetik presently has a consensus rating of “Moderate Buy” and an average price target of $59.63.

Kinetik Stock Up 2.0 %

KNTK stock opened at $54.03 on Tuesday. The company has a market capitalization of $8.52 billion, a P/E ratio of 19.94, a PEG ratio of 1.52 and a beta of 2.85. The company has a 50-day simple moving average of $59.99 and a 200 day simple moving average of $54.93. Kinetik Holdings Inc. has a fifty-two week low of $36.56 and a fifty-two week high of $67.60.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Monday, February 3rd were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 5.77%. The ex-dividend date was Monday, February 3rd. Kinetik’s payout ratio is currently 305.88%.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.