Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 868 shares of the company's stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $48.01, for a total value of $41,672.68. Following the completion of the transaction, the insider owned 1,338,933 shares of the company's stock, valued at $64,282,173.33. The trade was a 0.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.
Isq Global Fund Ii Gp Llc also recently made the following trade(s):
- On Wednesday, April 29th, Isq Global Fund Ii Gp Llc sold 183,434 shares of Kinetik stock. The stock was sold at an average price of $49.53, for a total value of $9,085,486.02.
- On Tuesday, April 28th, Isq Global Fund Ii Gp Llc sold 192,041 shares of Kinetik stock. The stock was sold at an average price of $48.56, for a total value of $9,325,510.96.
- On Wednesday, April 22nd, Isq Global Fund Ii Gp Llc sold 21,429 shares of Kinetik stock. The stock was sold at an average price of $48.02, for a total value of $1,029,020.58.
- On Thursday, April 23rd, Isq Global Fund Ii Gp Llc sold 138,771 shares of Kinetik stock. The stock was sold at an average price of $48.17, for a total transaction of $6,684,599.07.
- On Thursday, February 26th, Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik stock. The stock was sold at an average price of $44.85, for a total transaction of $179,400,000.00.
Kinetik Stock Up 1.6%
Shares of NYSE:KNTK opened at $49.63 on Thursday. The stock has a market cap of $8.05 billion, a PE ratio of 19.31, a PEG ratio of 1.51 and a beta of 0.66. The company's fifty day moving average is $46.48 and its 200 day moving average is $40.38. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $49.73.
Kinetik (NYSE:KNTK - Get Free Report) last issued its earnings results on Thursday, February 26th. The company reported $2.16 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $2.01. The company had revenue of $430.42 million for the quarter. Kinetik had a net margin of 29.23% and a negative return on equity of 32.70%. Kinetik's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.01 EPS. Sell-side analysts anticipate that Kinetik Holdings Inc. will post 1.01 EPS for the current year.
Wall Street Analyst Weigh In
A number of brokerages recently commented on KNTK. Raymond James Financial set a $46.00 target price on shares of Kinetik in a research report on Monday, January 5th. Zacks Research upgraded shares of Kinetik from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 26th. Truist Financial began coverage on shares of Kinetik in a research report on Tuesday, March 24th. They issued a "buy" rating and a $53.00 target price on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Kinetik in a research report on Tuesday, April 21st. Finally, Scotiabank boosted their price objective on shares of Kinetik from $49.00 to $51.00 and gave the company a "sector outperform" rating in a research report on Tuesday, March 17th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $48.33.
View Our Latest Analysis on KNTK
Institutional Investors Weigh In On Kinetik
A number of large investors have recently modified their holdings of KNTK. Zimmer Partners LP bought a new stake in shares of Kinetik during the 4th quarter valued at about $98,611,000. Brave Warrior Advisors LLC bought a new stake in shares of Kinetik during the 3rd quarter valued at about $68,766,000. Wellington Management Group LLP boosted its stake in shares of Kinetik by 149.6% during the 4th quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company's stock valued at $57,983,000 after purchasing an additional 964,130 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its stake in shares of Kinetik by 86.5% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company's stock valued at $66,455,000 after purchasing an additional 855,000 shares in the last quarter. Finally, Cohen & Steers Inc. boosted its stake in shares of Kinetik by 82.5% during the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company's stock valued at $66,458,000 after purchasing an additional 833,224 shares in the last quarter. Institutional investors own 21.11% of the company's stock.
Kinetik Company Profile
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Get Free Report)
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.
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