Brooklands Fund Management Ltd Buys Shares of 60,688 Kinetik Holdings Inc. $KNTK

Brooklands Fund Management Ltd purchased a new stake in Kinetik Holdings Inc. (NYSE:KNTK) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 60,688 shares of the company’s stock, valued at approximately $2,880,000. Kinetik accounts for approximately 3.2% of Brooklands Fund Management Ltd’s holdings, making the stock its 12th largest position.

Several other institutional investors have also recently made changes to their positions in KNTK. CWM LLC lifted its holdings in Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. Signaturefd LLC increased its stake in Kinetik by 101.5% during the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Kinetik in the fourth quarter valued at $33,000. Los Angeles Capital Management LLC purchased a new stake in Kinetik in the fourth quarter valued at $40,000. Finally, Huntington National Bank raised its position in Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after purchasing an additional 711 shares during the period. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Stock Down 0.1%

NYSE:KNTK opened at $51.55 on Friday. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $52.54. The stock’s fifty day moving average is $48.26 and its two-hundred day moving average is $45.67. The stock has a market capitalization of $8.37 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.45 and a beta of 0.56.

Kinetik (NYSE:KNTK) last issued its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). The firm had revenue of $409.98 million during the quarter. Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The company’s quarterly revenue was down 7.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.05 earnings per share. On average, sell-side analysts expect that Kinetik Holdings Inc. will post 0.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of Kinetik stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $50.52, for a total value of $27,006,173.28. Following the completion of the transaction, the insider directly owned 428,894 shares of the company’s stock, valued at $21,667,724.88. The trade was a 55.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last three months, insiders sold 910,907 shares of company stock worth $45,458,843. Company insiders own 3.56% of the company’s stock.

Analyst Upgrades and Downgrades

KNTK has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price target on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a report on Tuesday, July 14th. Barclays set a $50.00 price objective on shares of Kinetik and gave the company an “equal weight” rating in a report on Thursday, May 14th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $56.00 target price on shares of Kinetik in a research report on Tuesday. Weiss Ratings raised shares of Kinetik from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 6th. Finally, Scotiabank reiterated an “outperform” rating and set a $52.00 price target (up from $51.00) on shares of Kinetik in a research report on Tuesday, May 12th. Two analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $50.50.

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.