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

Quantinno Capital Management LP increased its position in shares of Kinetik Holdings Inc. (NYSE:KNTK) by 240.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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’s holdings in Kinetik were worth $4,940,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. CWM LLC boosted its position in shares of Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC increased its position in shares of Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after buying an additional 404 shares in the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Kinetik in the 4th quarter valued at $33,000. Los Angeles Capital Management LLC acquired a new stake in Kinetik during the 4th quarter worth $40,000. Finally, Huntington National Bank raised its stake in Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after buying an additional 711 shares during the period. Institutional investors own 21.11% of the company’s stock.

Kinetik Trading Up 3.4%

KNTK opened at $50.00 on Friday. The stock has a market capitalization of $8.12 billion, a P/E ratio of 18.12, a P/E/G ratio of 1.91 and a beta of 0.56. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $52.54. The firm’s fifty day simple moving average is $48.25 and its 200 day simple moving average is $46.57.

Kinetik (NYSE:KNTK) last released its earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.45. Kinetik had a negative return on equity of 37.86% and a net margin of 26.19%.The firm had revenue of $581.44 million during the quarter, compared to analysts’ expectations of $421.48 million. During the same quarter in the prior year, the company earned $0.33 EPS. The company’s revenue was up 36.3% on a year-over-year basis. On average, equities research analysts predict that Kinetik Holdings Inc. will post 0.81 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on KNTK shares. Weiss Ratings raised Kinetik from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $56.00 price target on shares of Kinetik in a research report on Tuesday, July 21st. JPMorgan Chase & Co. lifted their price objective on Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. 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. Finally, Barclays set a $51.00 target price on Kinetik and gave the stock an “equal weight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.