Fort Washington Investment Advisors Inc. OH Lowers Holdings in Kinetik Holdings Inc. $KNTK

Fort Washington Investment Advisors Inc. OH trimmed its position in shares of Kinetik Holdings Inc. (NYSE:KNTK) by 53.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 28,697 shares of the company’s stock after selling 32,998 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Kinetik were worth $1,035,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Aster Capital Management DIFC Ltd purchased a new stake in shares of Kinetik during the third quarter valued at approximately $54,000. Advisory Services Network LLC purchased a new position in Kinetik in the 3rd quarter worth approximately $55,000. GAMMA Investing LLC lifted its position in Kinetik by 569.6% in the 4th quarter. GAMMA Investing LLC now owns 1,761 shares of the company’s stock valued at $63,000 after acquiring an additional 1,498 shares in the last quarter. Fifth Third Bancorp lifted its position in Kinetik by 269.2% in the 3rd quarter. Fifth Third Bancorp now owns 1,569 shares of the company’s stock valued at $67,000 after acquiring an additional 1,144 shares in the last quarter. Finally, Comerica Bank boosted its stake in Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company’s stock valued at $80,000 after purchasing an additional 732 shares during the last quarter. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Stock Performance

NYSE:KNTK opened at $48.64 on Friday. The company has a market cap of $7.89 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.64 and a beta of 0.70. The company has a 50 day simple moving average of $43.49 and a two-hundred day simple moving average of $39.56. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month 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, beating the consensus estimate of $0.15 by $2.01. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The firm had revenue of $430.42 million for the quarter. During the same period in the previous year, the company earned $0.01 earnings per share. Kinetik’s quarterly revenue was up 11.5% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Wall Street Zen raised Kinetik from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Raymond James Financial set a $46.00 price target on Kinetik in a report on Monday, January 5th. Scotiabank lifted their price objective on Kinetik from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Tuesday, March 17th. Jefferies Financial Group downgraded Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a report on Friday, February 6th. 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 research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $47.25.

Insider Transactions at Kinetik

In other Kinetik news, insider Trevor Howard sold 1,619 shares of the stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $75,963.48. Following the transaction, the insider owned 249,795 shares of the company’s stock, valued at approximately $11,720,381.40. This represents a 0.64% 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 firm’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $44.85, for a total value of $179,400,000.00. Following the completion of the transaction, the insider directly owned 1 shares in the company, valued at $44.85. The trade was a 100.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 4,015,831 shares of company stock worth $180,054,928 in the last ninety days. Insiders own 3.83% of the company’s stock.

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.