Duff & Phelps Investment Management Co. Purchases 17,039 Shares of Kinetik Holdings Inc. $KNTK

Duff & Phelps Investment Management Co. raised its position in shares of Kinetik Holdings Inc. (NYSE:KNTK) by 91.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,578 shares of the company’s stock after purchasing an additional 17,039 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Kinetik were worth $1,521,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Federated Hermes Inc. increased its position in shares of Kinetik by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock valued at $3,926,000 after purchasing an additional 346 shares during the last quarter. SL Advisors LLC lifted its position in Kinetik by 1.7% in the 3rd quarter. SL Advisors LLC now owns 22,306 shares of the company’s stock worth $953,000 after buying an additional 379 shares during the last quarter. Apollon Wealth Management LLC boosted its stake in Kinetik by 6.9% in the third quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company’s stock worth $256,000 after buying an additional 388 shares in the last quarter. AQR Capital Management LLC boosted its stake in Kinetik by 4.2% in the first quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock worth $670,000 after buying an additional 522 shares in the last quarter. Finally, Rossby Financial LCC grew its position in Kinetik by 29.2% during the third quarter. Rossby Financial LCC now owns 2,592 shares of the company’s stock valued at $106,000 after acquiring an additional 586 shares during the last quarter. Institutional investors own 21.11% of the company’s stock.

Insider Activity

In other Kinetik 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 transaction, the insider owned 393,382 shares in the company, valued at approximately $18,457,483.44. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction, the insider directly owned 1 shares of the company’s stock, valued at approximately $44.85. This trade represents a 100.00% 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 4,015,831 shares of company stock worth $180,054,928 over the last ninety days. 3.83% of the stock is owned by insiders.

Kinetik Stock Performance

NYSE:KNTK opened at $45.26 on Friday. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $54.94. The firm has a market cap of $7.31 billion, a PE ratio of 17.61, a price-to-earnings-growth ratio of 1.28 and a beta of 0.70. The business has a 50 day moving average price of $41.38 and a 200-day moving average price of $39.22.

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

Analyst Ratings Changes

KNTK has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price objective on shares of Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a report on Monday, November 17th. Citigroup increased their target price on shares of Kinetik from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Raymond James Financial set a $46.00 target price on shares of Kinetik in a research report on Monday, January 5th. Wells Fargo & Company boosted their price target on shares of Kinetik from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, February 27th. Finally, Royal Bank Of Canada upped their price target on shares of Kinetik from $46.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday. Six investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $45.82.

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.