Marshall Wace LLP Grows Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Marshall Wace LLP increased its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 196.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 302,892 shares of the company’s stock after purchasing an additional 200,572 shares during the period. Marshall Wace LLP’s holdings in Kinetik were worth $12,552,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in KNTK. Beach Investment Counsel Inc. PA purchased a new position in shares of Kinetik during the second quarter worth $27,000. Ameritas Investment Partners Inc. lifted its stake in Kinetik by 112.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,633 shares of the company’s stock worth $145,000 after acquiring an additional 1,926 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Kinetik by 270.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,841 shares of the company’s stock valued at $159,000 after acquiring an additional 2,803 shares during the period. EntryPoint Capital LLC grew its position in Kinetik by 109.8% in the 1st quarter. EntryPoint Capital LLC now owns 4,709 shares of the company’s stock valued at $188,000 after acquiring an additional 2,464 shares in the last quarter. Finally, Essex Financial Services Inc. purchased a new stake in Kinetik during the second quarter worth about $201,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Stock Up 0.3 %

NASDAQ KNTK opened at $44.91 on Friday. Kinetik Holdings Inc. has a 52 week low of $31.31 and a 52 week high of $47.80. The firm has a 50 day moving average of $43.36 and a two-hundred day moving average of $41.14. The stock has a market capitalization of $7.07 billion, a PE ratio of 18.41, a price-to-earnings-growth ratio of 2.52 and a beta of 2.91.

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

Kinetik Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Monday, July 29th were given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 6.68%. The ex-dividend date of this dividend was Monday, July 29th. Kinetik’s dividend payout ratio (DPR) is presently 122.95%.

Analysts Set New Price Targets

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

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.