Key Points
- ISQ Global Fund II GP LLC sold 78,474 Kinetik shares at an average price of $50.87, generating nearly $4.0 million; it retained 1.59 million shares valued at about $80.7 million.
- Kinetik reported a strong quarterly performance, with EPS of $0.64 versus the $0.19 analyst consensus and revenue of $581.4 million, up 36.3% year over year.
- Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and a $52.87 price target, while Truist raised its target to $59; however, the major shareholder’s recent consecutive sales could weigh on investor sentiment.
Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 78,474 shares of the firm's stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $50.87, for a total transaction of $3,991,972.38. Following the completion of the sale, the insider owned 1,586,346 shares in the company, valued at approximately $80,697,421.02. The trade was a 4.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company's shares 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, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The stock was sold at an average price of $51.52, for a total transaction of $4,363,795.52.
- On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The shares were sold at an average price of $52.03, for a total transaction of $7,675,257.48.
- On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The shares were sold at an average price of $50.24, for a total transaction of $1,333,872.00.
- On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The shares were sold at an average price of $50.52, for a total transaction of $11,889,831.48.
- On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total transaction of $108,837.00.
Kinetik Stock Performance
Shares of NYSE:KNTK opened at $51.22 on Thursday. The company has a fifty day moving average of $48.64 and a 200-day moving average of $46.90. The company has a market capitalization of $8.32 billion, a PE ratio of 18.56, a price-to-earnings-growth ratio of 1.69 and a beta of 0.56. Kinetik Holdings Inc. has a 52-week low of $31.33 and a 52-week high of $52.69.
Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.45. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The company had revenue of $581.44 million during the quarter, compared to analysts' expectations of $421.48 million. During the same period in the prior year, the company earned $0.33 EPS. Kinetik's revenue was up 36.3% compared to the same quarter last year. On average, equities analysts forecast that Kinetik Holdings Inc. will post 0.97 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of KNTK. CWM LLC lifted 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. Signaturefd LLC grew its position in shares of Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company's stock valued at $29,000 after buying an additional 404 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Kinetik in the fourth quarter valued at about $33,000. Los Angeles Capital Management LLC acquired a new stake in shares of Kinetik in the fourth quarter valued at about $40,000. Finally, Huntington National Bank raised its position in shares of Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company's stock worth $44,000 after acquiring an additional 711 shares during the last quarter. 21.11% of the stock is owned by institutional investors.
Kinetik News Roundup
Here are the key news stories impacting Kinetik this week:
- Positive Sentiment: Truist raised its price target to $59 from $53 and maintained a “buy” rating. The new target implies approximately 15.2% upside from the referenced share price, signaling confidence in Kinetik’s growth prospects and valuation. Benzinga analyst report
- Neutral Sentiment: Analysts were reported to have set a price target of $51.40, broadly consistent with Kinetik’s recent trading level. This suggests limited near-term upside under that estimate, although it does not represent a rating downgrade. Analysts set Kinetik price target
- Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 Kinetik shares from August 10 through August 12 for approximately $16.0 million. The fund’s reported position fell from 1,586,346 shares to 1,354,129 shares, a reduction of about 14.6%. Although the sales may reflect portfolio management rather than concerns about Kinetik’s fundamentals, the size and consecutive timing of the disposals could weigh on investor sentiment and create additional supply. SEC insider transaction filing
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. Mizuho lifted their price target on Kinetik from $48.00 to $51.00 and gave the company an "outperform" rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Kinetik from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Kinetik from $54.00 to $57.00 and gave the company an "overweight" rating in a research note on Tuesday, July 14th. Zacks Research upgraded shares of Kinetik from a "hold" rating to a "strong-buy" rating in a report on Monday, July 27th. Finally, Barclays set a $51.00 target price on shares of Kinetik and gave the stock an "equal weight" rating in a research report on Thursday, August 6th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.87.
Read Our Latest Report on Kinetik
About Kinetik
(
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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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