Key Points
- Isq Global Fund II GP LLC sold 534,564 Kinetik shares on April 30 at an average of $50.52 (~$27.0M), trimming its stake to 428,894 shares (a 55.48% reduction) after a string of late‑April sales and a February sale of 4,000,000 shares for ~$179.4M.
- Kinetik reported a strong quarter on Feb. 26 with adjusted EPS of $2.16 versus $0.15 expected and revenue of $430.4M (up 11.5% year‑over‑year), while shares trade near their 52‑week high and the company has a market cap of about $8.23B.
- Analysts are generally positive, with a consensus rating of "Moderate Buy" and an average target of $48.33, and several firms (Truist, Mizuho, Scotiabank, RBC) recently raising ratings or targets.
Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business's stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total value of $27,006,173.28. Following the transaction, the insider owned 428,894 shares of the company's stock, valued at $21,667,724.88. This trade represents a 55.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Major shareholders that own more than 10% of a company's stock are required to disclose their sales and purchases 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 shares were 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 shares were sold at an average price of $48.56, for a total transaction of $9,325,510.96.
- On Monday, April 27th, Isq Global Fund Ii Gp Llc sold 868 shares of Kinetik stock. The shares were sold at an average price of $48.01, for a total transaction of $41,672.68.
- 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 transaction of $1,029,020.58.
- On Thursday, April 23rd, Isq Global Fund Ii Gp Llc sold 138,771 shares of Kinetik stock. The shares were 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 shares were sold at an average price of $44.85, for a total transaction of $179,400,000.00.
Kinetik Trading Up 2.8%
KNTK stock opened at $50.76 on Tuesday. The firm's 50-day moving average is $46.59 and its two-hundred day moving average is $40.50. The company has a market capitalization of $8.23 billion, a price-to-earnings ratio of 19.75, a price-to-earnings-growth ratio of 1.56 and a beta of 0.61. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $51.11.
Kinetik (NYSE:KNTK - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $2.01. Kinetik had a net margin of 29.23% and a negative return on equity of 32.70%. The business had revenue of $430.42 million during the quarter. During the same quarter last year, the business earned $0.01 earnings per share. The company's revenue was up 11.5% on a year-over-year basis. On average, equities research analysts predict that Kinetik Holdings Inc. will post 1.01 earnings per share for the current year.
Institutional Investors Weigh In On Kinetik
A number of institutional investors and hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC lifted its holdings in shares of Kinetik by 3.5% during the fourth quarter. ProShare Advisors LLC now owns 8,633 shares of the company's stock valued at $311,000 after purchasing an additional 294 shares during the last quarter. Maryland State Retirement & Pension System increased its stake in Kinetik by 5.4% in the 4th quarter. Maryland State Retirement & Pension System now owns 6,612 shares of the company's stock worth $238,000 after purchasing an additional 337 shares in the last quarter. Federated Hermes Inc. increased its stake in Kinetik by 0.4% in the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company's stock worth $3,926,000 after purchasing an additional 346 shares in the last quarter. CWM LLC raised its holdings in Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company's stock worth $27,000 after buying an additional 352 shares during the period. Finally, Apollon Wealth Management LLC raised its holdings in Kinetik by 6.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company's stock worth $256,000 after buying an additional 388 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have issued reports on KNTK shares. Barclays increased their price target on Kinetik from $44.00 to $46.00 and gave the company an "equal weight" rating in a research note on Friday, April 10th. Scotiabank lifted their target price on Kinetik from $49.00 to $51.00 and gave the stock a "sector outperform" rating in a report on Tuesday, March 17th. Truist Financial began coverage on shares of Kinetik in a report on Tuesday, March 24th. They issued a "buy" rating and a $53.00 price target for the company. Mizuho raised their price objective on shares of Kinetik from $48.00 to $51.00 and gave the company an "outperform" rating in a research report on Tuesday, April 28th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $50.00 target price (up from $49.00) on shares of Kinetik in a report on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, Kinetik has an average rating of "Moderate Buy" and a consensus target price of $48.33.
View Our Latest Report on KNTK
Kinetik Company Profile
(
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.
Further Reading
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