Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Bought by Invesco Ltd.

Invesco Ltd. raised its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,247,843 shares of the company's stock after purchasing an additional 36,362 shares during the quarter. Invesco Ltd. owned 0.79% of Kinetik worth $70,765,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KNTK. Stifel Financial Corp purchased a new stake in shares of Kinetik in the third quarter worth about $202,000. Barclays PLC lifted its holdings in Kinetik by 34.5% in the third quarter. Barclays PLC now owns 234,286 shares of the company's stock valued at $10,603,000 after acquiring an additional 60,058 shares during the period. Geode Capital Management LLC boosted its position in Kinetik by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 877,887 shares of the company's stock worth $39,742,000 after purchasing an additional 13,644 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Kinetik during the 3rd quarter worth approximately $921,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of Kinetik by 53.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company's stock valued at $7,145,000 after purchasing an additional 55,050 shares in the last quarter. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Price Performance

KNTK traded up $0.41 on Friday, reaching $43.73. 733,604 shares of the company's stock were exchanged, compared to its average volume of 606,216. Kinetik Holdings Inc. has a twelve month low of $37.65 and a twelve month high of $67.60. The stock has a market cap of $6.90 billion, a PE ratio of 16.14, a P/E/G ratio of 1.52 and a beta of 2.68. The stock's fifty day moving average price is $52.37 and its 200-day moving average price is $55.26.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 25th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 7.13%. The ex-dividend date is Friday, April 25th. Kinetik's dividend payout ratio is currently 305.88%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on KNTK shares. Wells Fargo & Company lowered their price target on shares of Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Scotiabank dropped their target price on Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a research report on Thursday, March 6th. US Capital Advisors upgraded Kinetik from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Barclays increased their price target on Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Finally, Royal Bank of Canada cut their price objective on Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.75.

Insider Activity

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the business's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the transaction, the insider now owns 657,583 shares of the company's stock, valued at approximately $34,628,320.78. The trade was a 61.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 3.71% of the company's stock.

Kinetik Company Profile

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.