Susquehanna Fundamental Investments LLC Has $2.76 Million Stock Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Susquehanna Fundamental Investments LLC raised its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 252.3% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 66,694 shares of the company’s stock after acquiring an additional 47,761 shares during the period. Susquehanna Fundamental Investments LLC’s holdings in Kinetik were worth $2,764,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. Beach Investment Counsel Inc. PA bought a new stake in shares of Kinetik in the second quarter worth $27,000. Ameritas Investment Partners Inc. increased its stake in Kinetik by 112.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 3,633 shares of the company’s stock valued at $145,000 after buying an additional 1,926 shares during the last quarter. Harbor Capital Advisors Inc. lifted its position in Kinetik by 270.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 3,841 shares of the company’s stock worth $159,000 after buying an additional 2,803 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Kinetik during the 2nd quarter worth about $187,000. Finally, EntryPoint Capital LLC grew its holdings in shares of 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. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Trading Up 0.8 %

KNTK opened at $45.26 on Tuesday. The stock’s fifty day simple moving average is $43.36 and its 200 day simple moving average is $41.23. Kinetik Holdings Inc. has a 1-year low of $31.31 and a 1-year high of $47.80. The stock has a market cap of $6.95 billion, a PE ratio of 18.55, 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. The company had revenue of $359.50 million during the quarter, compared to analysts’ expectations of $305.94 million. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. Kinetik’s quarterly revenue was up 21.4% compared to the same quarter last year. During the same quarter last year, the company posted $0.41 EPS. Equities analysts forecast that Kinetik Holdings Inc. will post 1.39 earnings per share for the current year.

Kinetik Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Stockholders of record on Monday, July 29th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 6.63%. Kinetik’s dividend payout ratio (DPR) is currently 122.95%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Barclays reiterated an “equal weight” rating and set a $43.00 target price on shares of Kinetik in a report on Wednesday, July 10th. Royal Bank of Canada upped their price objective on Kinetik from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Scotiabank raised their target price 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $42.00.

About Kinetik

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.