Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 113,075 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $51.60, for a total value of $5,834,670.00. Following the sale, the insider owned 1,241,054 shares in the company, valued at $64,038,386.40. The trade was a 8.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% 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 Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The stock was sold at an average price of $52.78, for a total value of $7,130,683.56.
- On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The stock was sold at an average price of $53.48, for a total value of $5,998,316.80.
- On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The shares were sold at an average price of $51.52, for a total value 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 value of $7,675,257.48.
- On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The shares were sold at an average price of $50.87, for a total value of $3,991,972.38.
- On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The stock was sold at an average price of $50.24, for a total value of $1,333,872.00.
- On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The stock was 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 shares were 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 $52.99 on Tuesday. The company's fifty day moving average is $49.07 and its two-hundred day moving average is $47.18. Kinetik Holdings Inc. has a 1-year low of $31.33 and a 1-year high of $54.12. The stock has a market capitalization of $8.60 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.32 and a beta of 0.56.
Kinetik (NYSE:KNTK - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business had revenue of $581.44 million during the quarter, compared to analyst estimates of $421.48 million. During the same period in the previous year, the business posted $0.33 EPS. The company's quarterly revenue was up 36.3% on a year-over-year basis. Sell-side analysts expect that Kinetik Holdings Inc. will post 1.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on KNTK shares. Wall Street Zen upgraded Kinetik from a "strong sell" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings upgraded Kinetik from a "hold (c)" rating to a "hold (c+)" rating in a research report on Tuesday, August 11th. Scotiabank reiterated an "outperform" rating and set a $52.00 price target (up from $51.00) on shares of Kinetik in a research report on Tuesday, May 12th. JPMorgan Chase & Co. raised their price target on Kinetik from $54.00 to $57.00 and gave the stock an "overweight" rating in a report on Tuesday, July 14th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $57.00 price objective (up from $56.00) on shares of Kinetik in a research report on Tuesday, August 11th. Two equities research 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 company. According to MarketBeat.com, Kinetik currently has an average rating of "Moderate Buy" and a consensus target price of $52.87.
Check Out Our Latest Research Report on KNTK
Hedge Funds Weigh In On Kinetik
Institutional investors have recently bought and sold shares of the stock. Zimmer Partners LP acquired a new stake in Kinetik during the 4th quarter worth about $98,611,000. Wellington Management Group LLP increased its position in shares of Kinetik by 149.6% in the fourth quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company's stock worth $57,983,000 after acquiring an additional 964,130 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its holdings in shares of Kinetik by 86.5% during the fourth 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 acquiring an additional 855,000 shares during the period. Cohen & Steers Inc. raised its holdings in shares of Kinetik by 82.5% during the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company's stock valued at $66,458,000 after acquiring an additional 833,224 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Kinetik by 382.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,018,692 shares of the company's stock valued at $36,724,000 after acquiring an additional 807,707 shares in the last quarter. Hedge funds and other 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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