Kinetik (NYSE:KNTK) Major Shareholder Sells 45,428 Shares

Kinetik Holdings Inc. (NYSE:KNTK) 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 sale, the insider directly owned 797,136 shares in the company, valued at $43,890,308.16. The trade was a 5.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Large shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases 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 shares were sold at an average price of $55.28, for a total value of $4,215,652.80.
• On Friday, August 21st, Isq Global Fund Ii Gp Llc sold 6,963 shares of Kinetik stock. The stock was sold at an average price of $55.17, for a total value 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 value of $3,525,259.36.
• On Thursday, August 20th, Isq Global Fund Ii Gp Llc sold 3,107 shares of Kinetik stock. The stock was sold at an average price of $55.07, for a total value of $171,102.49.
• On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The shares were sold at an average price of $52.78, for a total value of $7,130,683.56.
• On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The shares were sold at an average price of $53.48, for a total value of $5,998,316.80.
• On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The stock was 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 transaction 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 transaction 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 transaction of $3,991,972.38.

Kinetik Price Performance

Shares of Kinetik stock traded up $0.22 on Thursday, hitting $54.34. The company had a trading volume of 750,480 shares, compared to its average volume of 1,159,053. The firm has a market capitalization of $8.82 billion, a P/E ratio of 19.69, a P/E/G ratio of 1.36 and a beta of 0.57. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $56.10. The stock has a 50-day moving average of $50.95 and a 200-day moving average of $48.31.

Kinetik (NYSE:KNTK) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The company had revenue of $581.44 million during the quarter, compared to the consensus estimate of $421.48 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. The firm’s revenue was up 36.3% compared to the same quarter last year. Equities analysts predict that Kinetik Holdings Inc. will post 1.3 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY lifted its position in Kinetik by 69.4% during the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock worth $7,083,000 after buying an additional 59,942 shares in the last quarter. Infrastructure Capital Advisors LLC acquired a new stake in shares of Kinetik in the fourth quarter valued at about $9,323,000. Vanguard Group Inc. increased its position in shares of Kinetik by 9.4% in the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock valued at $183,739,000 after acquiring an additional 439,586 shares during the last quarter. HighTower Advisors LLC raised its holdings in Kinetik by 33.1% during the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock worth $3,710,000 after acquiring an additional 25,574 shares in the last quarter. Finally, Diversify Wealth Management LLC acquired a new position in Kinetik during the first quarter valued at approximately $1,612,000. Institutional investors own 21.11% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on KNTK. US Capital Advisors upgraded Kinetik from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price target on shares of Kinetik in a report on Friday, May 8th. Morgan Stanley reaffirmed an “overweight” rating and set a $70.00 price objective (up from $64.00) on shares of Kinetik in a research report on Tuesday, August 18th. Clear Str downgraded Kinetik from a “strong-buy” rating to a “hold” rating in a report on Monday, August 17th. Finally, Weiss Ratings raised Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $53.27.

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.