Kinetik Holdings Inc. $KNTK Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in Kinetik Holdings Inc. (NYSE:KNTK) by 641.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,476 shares of the company’s stock after buying an additional 123,260 shares during the quarter. SG Americas Securities LLC’s holdings in Kinetik were worth $5,136,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of KNTK. SL Advisors LLC raised its position in Kinetik by 62.3% in the fourth quarter. SL Advisors LLC now owns 36,197 shares of the company’s stock worth $1,305,000 after acquiring an additional 13,891 shares in the last quarter. MFG Wealth Management Inc. purchased a new stake in shares of Kinetik during the 4th quarter worth $994,000. GAMMA Investing LLC boosted its position in shares of Kinetik by 569.6% during the 4th quarter. GAMMA Investing LLC now owns 1,761 shares of the company’s stock worth $63,000 after purchasing an additional 1,498 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Kinetik by 3.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 56,484 shares of the company’s stock worth $2,414,000 after purchasing an additional 1,670 shares during the period. Finally, BlueCrest Capital Management Ltd purchased a new position in shares of Kinetik in the 3rd quarter valued at about $513,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Insider Activity

In related news, insider Steven Stellato sold 2,907 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total value of $136,396.44. Following the completion of the transaction, the insider owned 393,382 shares of the company’s stock, valued at approximately $18,457,483.44. The trade was a 0.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $44.85, for a total transaction of $179,400,000.00. Following the completion of the transaction, the insider owned 1 shares in the company, valued at approximately $44.85. This trade represents a 100.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 4,015,831 shares of company stock worth $180,054,928. Company insiders own 3.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Wall Street Zen raised shares of Kinetik from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Zacks Research upgraded Kinetik from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Royal Bank Of Canada boosted their target price on Kinetik from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th. Barclays raised their price target on Kinetik from $43.00 to $44.00 and gave the company an “equal weight” rating in a research report on Thursday, March 19th. Finally, Wolfe Research cut shares of Kinetik from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.25.

Kinetik Stock Performance

Shares of NYSE:KNTK opened at $46.01 on Thursday. The business’s fifty day moving average price is $44.02 and its two-hundred day moving average price is $39.65. The stock has a market cap of $7.46 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.64 and a beta of 0.66. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $54.15.

Kinetik (NYSE:KNTK) last released its quarterly earnings results on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $2.01. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The company had revenue of $430.42 million during the quarter. During the same period last year, the firm earned $0.01 earnings per share. The business’s revenue was up 11.5% compared to the same quarter last year.

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.