Kinetik Holdings Inc. $KNTK Shares Acquired by UBS Group AG

UBS Group AG grew its stake in Kinetik Holdings Inc. (NYSE:KNTK) by 61.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 754,056 shares of the company’s stock after purchasing an additional 287,738 shares during the period. UBS Group AG’s holdings in Kinetik were worth $27,184,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings 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 purchasing an additional 439,586 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its holdings in shares of Kinetik by 86.5% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock valued at $66,455,000 after purchasing an additional 855,000 shares during the period. Brave Warrior Advisors LLC acquired a new position in shares of Kinetik in the third quarter valued at approximately $68,766,000. Invesco Ltd. increased its holdings in shares of Kinetik by 40.2% in the third quarter. Invesco Ltd. now owns 1,449,965 shares of the company’s stock valued at $61,972,000 after purchasing an additional 415,505 shares during the period. Finally, Chickasaw Capital Management LLC increased its holdings in shares of Kinetik by 3.6% in the fourth quarter. Chickasaw Capital Management LLC now owns 1,137,460 shares of the company’s stock valued at $41,005,000 after purchasing an additional 39,013 shares during the period. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Stock Performance

KNTK opened at $47.41 on Friday. The business’s fifty day moving average is $46.84 and its two-hundred day moving average is $40.77. The company has a market cap of $7.69 billion, a price-to-earnings ratio of 19.35, a PEG ratio of 1.49 and a beta of 0.61. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $51.11.

Kinetik (NYSE:KNTK) last posted its earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). The firm had revenue of $409.98 million for the quarter. Kinetik had a negative return on equity of 38.92% and a net margin of 28.58%.The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 EPS. On average, analysts predict that Kinetik Holdings Inc. will post 1.02 EPS for the current fiscal year.

Insider Transactions at Kinetik

In other news, insider Matthew Wall sold 3,222 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $151,176.24. Following the sale, the insider directly owned 585,556 shares in the company, valued at $27,474,287.52. This represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Steven Stellato sold 2,907 shares of the company’s stock in a transaction on 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 sale, the insider owned 393,382 shares in the company, valued at $18,457,483.44. This represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 5,078,855 shares of company stock valued at $232,935,999 in the last three months. 3.56% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

KNTK has been the topic of a number of recent research reports. Scotiabank boosted their target price on Kinetik from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Tuesday, March 17th. Wall Street Zen lowered Kinetik from a “hold” rating to a “sell” rating in a report on Saturday. Wolfe Research downgraded Kinetik from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. Citigroup lifted their price target on Kinetik from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $50.00 price target (up from $49.00) on shares of Kinetik in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $48.42.

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.