Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Waterloo Capital L.P.

Waterloo Capital L.P. lowered its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 5.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,386 shares of the company’s stock after selling 1,083 shares during the quarter. Waterloo Capital L.P.’s holdings in Kinetik were worth $720,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in KNTK. Beach Investment Counsel Inc. PA purchased a new stake in shares of Kinetik in the second quarter valued at approximately $27,000. Ameritas Investment Partners Inc. grew its position in shares of Kinetik by 112.8% in the first quarter. Ameritas Investment Partners Inc. now owns 3,633 shares of the company’s stock valued at $145,000 after purchasing an additional 1,926 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Kinetik by 270.0% in the second quarter. Harbor Capital Advisors Inc. now owns 3,841 shares of the company’s stock valued at $159,000 after purchasing an additional 2,803 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of Kinetik by 109.8% in the first quarter. EntryPoint Capital LLC now owns 4,709 shares of the company’s stock valued at $188,000 after purchasing an additional 2,464 shares in the last quarter. Finally, Essex Financial Services Inc. purchased a new stake in shares of Kinetik in the second quarter valued at approximately $201,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KNTK. Royal Bank of Canada increased their price objective on Kinetik from $43.00 to $46.00 and gave the stock an “outperform” rating in a research report on Thursday, August 15th. Scotiabank raised their price target on Kinetik from $42.00 to $48.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 2nd. Finally, Barclays restated an “equal weight” rating and set a $43.00 price target on shares of Kinetik in a research report on Wednesday, July 10th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Kinetik Trading Down 0.2 %

Shares of NASDAQ KNTK opened at $45.80 on Thursday. The stock has a market cap of $7.04 billion, a P/E ratio of 18.77, a PEG ratio of 2.31 and a beta of 2.91. Kinetik Holdings Inc. has a 12-month low of $31.31 and a 12-month high of $47.41. The business’s fifty day simple moving average is $42.88 and its 200-day simple moving average is $40.57.

Kinetik (NASDAQ:KNTK) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.11. The business had revenue of $359.50 million for the quarter, compared to analysts’ expectations of $305.94 million. Kinetik had a negative return on equity of 48.16% and a net margin of 30.96%. The company’s revenue for the quarter was up 21.4% compared to the same quarter last year. During the same period last year, the firm earned $0.41 earnings per share. On average, equities analysts forecast that Kinetik Holdings Inc. will post 1.39 EPS for the current fiscal year.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Monday, July 29th were paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 6.55%. The ex-dividend date was Monday, July 29th. Kinetik’s payout ratio is currently 122.95%.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.