Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Acquired by SL Advisors LLC

SL Advisors LLC increased its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 5.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,927 shares of the company’s stock after acquiring an additional 1,037 shares during the quarter. Kinetik comprises 1.8% of SL Advisors LLC’s investment portfolio, making the stock its 15th biggest position. SL Advisors LLC’s holdings in Kinetik were worth $992,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KNTK. Blackstone Inc. lifted its stake in Kinetik by 13.8% in the 1st quarter. Blackstone Inc. now owns 11,913,154 shares of the company’s stock worth $474,977,000 after purchasing an additional 1,442,653 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in shares of Kinetik by 148.3% in the first quarter. Westwood Holdings Group Inc. now owns 2,348,540 shares of the company’s stock valued at $93,636,000 after purchasing an additional 1,402,751 shares during the last quarter. Vanguard Group Inc. lifted its position in Kinetik by 52.0% during the first quarter. Vanguard Group Inc. now owns 3,314,713 shares of the company’s stock worth $132,158,000 after buying an additional 1,134,570 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its position in Kinetik by 1,992.8% during the first quarter. Kayne Anderson Capital Advisors LP now owns 1,164,974 shares of the company’s stock worth $46,448,000 after buying an additional 1,109,308 shares in the last quarter. Finally, Yaupon Capital Management LP acquired a new position in Kinetik during the first quarter worth $30,867,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Stock Down 0.8 %

Shares of Kinetik stock opened at $48.14 on Wednesday. The business’s fifty day simple moving average is $43.99 and its 200-day simple moving average is $41.67. The firm has a market cap of $7.40 billion, a PE ratio of 19.73, a price-to-earnings-growth ratio of 2.52 and a beta of 2.91. Kinetik Holdings Inc. has a 52 week low of $31.73 and a 52 week high of $48.69.

Kinetik (NASDAQ:KNTK) last posted its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The company had revenue of $359.50 million for the quarter, compared to analysts’ expectations of $305.94 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. Kinetik’s revenue for the quarter was up 21.4% compared to the same quarter last year. As a group, equities analysts expect that Kinetik Holdings Inc. will post 1.39 earnings per share for the current year.

Kinetik Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Monday, July 29th were issued a $0.75 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.00 annualized dividend and a yield of 6.23%. Kinetik’s dividend payout ratio (DPR) is presently 122.95%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on KNTK. Royal Bank of Canada raised their target price on Kinetik from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Scotiabank upped their price objective on shares of Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 2nd. Finally, Barclays reaffirmed an “equal weight” rating and set a $43.00 target price on shares of Kinetik in a research note on Wednesday, July 10th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $42.43.

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.