Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 868 Shares

Kinetik Holdings Inc. (NYSE:KNTK) major shareholder Isq Global Fund Ii Gp Llc sold 868 shares of the company’s stock in a transaction that occurred on Monday, April 27th. The shares were sold at an average price of $48.01, for a total transaction of $41,672.68. Following the sale, the insider owned 1,338,933 shares in the company, valued at $64,282,173.33. The trade was a 0.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Isq Global Fund Ii Gp Llc also recently made the following trade(s):

• On Wednesday, April 29th, Isq Global Fund Ii Gp Llc sold 183,434 shares of Kinetik stock. The shares were sold at an average price of $49.53, for a total transaction of $9,085,486.02.
• On Tuesday, April 28th, Isq Global Fund Ii Gp Llc sold 192,041 shares of Kinetik stock. The shares were sold at an average price of $48.56, for a total transaction of $9,325,510.96.
• On Wednesday, April 22nd, Isq Global Fund Ii Gp Llc sold 21,429 shares of Kinetik stock. The shares were sold at an average price of $48.02, for a total transaction of $1,029,020.58.
• On Thursday, April 23rd, Isq Global Fund Ii Gp Llc sold 138,771 shares of Kinetik stock. The shares were sold at an average price of $48.17, for a total transaction of $6,684,599.07.
• On Thursday, February 26th, Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik stock. The shares were sold at an average price of $44.85, for a total transaction of $179,400,000.00.

Kinetik Trading Up 1.6%

Shares of KNTK stock opened at $49.63 on Thursday. The stock has a market capitalization of $8.05 billion, a P/E ratio of 19.31, a PEG ratio of 1.51 and a beta of 0.66. The firm’s 50 day moving average is $46.48 and its 200 day moving average is $40.38. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $49.73.

Kinetik (NYSE:KNTK) last posted its earnings results on Thursday, February 26th. The company reported $2.16 earnings per share (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 business had revenue of $430.42 million for the quarter. During the same quarter in the prior year, the company earned $0.01 earnings per share. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. On average, equities analysts predict that Kinetik Holdings Inc. will post 1.01 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Zimmer Partners LP bought a new position in Kinetik in the fourth quarter valued at $98,611,000. Brave Warrior Advisors LLC purchased a new position in shares of Kinetik in the 3rd quarter worth about $68,766,000. Wellington Management Group LLP boosted its holdings in shares of Kinetik by 149.6% in the 4th quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company’s stock worth $57,983,000 after purchasing an additional 964,130 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its holdings in shares of Kinetik by 86.5% in the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock worth $66,455,000 after purchasing an additional 855,000 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its holdings in shares of Kinetik by 82.5% in the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock worth $66,458,000 after purchasing an additional 833,224 shares in the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Wall Street Zen upgraded shares of Kinetik from a “sell” rating to a “hold” rating in a research note on Sunday. Barclays increased their target price on shares of Kinetik from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Friday, April 10th. Raymond James Financial set a $46.00 target price on shares of Kinetik in a research note on Monday, January 5th. Mizuho increased their target price on shares of Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Zacks Research upgraded shares of Kinetik from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.33.

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.