Janus Henderson Group PLC Raises Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

Janus Henderson Group PLC grew its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 21.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,360 shares of the company's stock after purchasing an additional 8,863 shares during the period. Janus Henderson Group PLC's holdings in Kinetik were worth $2,279,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Kinetik by 14.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,867 shares of the company's stock valued at $356,000 after buying an additional 983 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Kinetik during the third quarter valued at approximately $46,000. SL Advisors LLC lifted its stake in shares of Kinetik by 5.0% in the 3rd quarter. SL Advisors LLC now owns 21,927 shares of the company's stock valued at $992,000 after purchasing an additional 1,037 shares during the last quarter. Van ECK Associates Corp boosted its holdings in shares of Kinetik by 19.6% in the 2nd quarter. Van ECK Associates Corp now owns 14,143 shares of the company's stock worth $586,000 after purchasing an additional 2,318 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Kinetik by 71.9% during the 3rd quarter. SG Americas Securities LLC now owns 5,678 shares of the company's stock valued at $257,000 after purchasing an additional 2,375 shares during the last quarter. 21.11% of the stock is owned by institutional investors.

Kinetik Trading Down 2.3 %

Shares of KNTK traded down $1.35 during midday trading on Friday, reaching $56.80. 383,841 shares of the stock were exchanged, compared to its average volume of 515,261. The company's 50 day moving average is $54.18 and its two-hundred day moving average is $46.67. The company has a market capitalization of $8.95 billion, a P/E ratio of 20.96, a PEG ratio of 2.83 and a beta of 2.95. Kinetik Holdings Inc. has a 52 week low of $31.73 and a 52 week high of $62.55.

Kinetik (NASDAQ:KNTK - Get Free Report) last posted its earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, missing analysts' consensus estimates of $0.45 by ($0.10). Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business had revenue of $396.40 million for the quarter, compared to analysts' expectations of $331.21 million. During the same period last year, the business posted $0.21 EPS. The company's revenue for the quarter was up 20.0% on a year-over-year basis. On average, sell-side analysts expect that Kinetik Holdings Inc. will post 1.35 EPS for the current year.

Kinetik Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a yield of 5.49%. The ex-dividend date was Monday, October 28th. This is a boost from Kinetik's previous quarterly dividend of $0.75. Kinetik's dividend payout ratio (DPR) is 115.13%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada raised their price target on Kinetik from $46.00 to $52.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 16th. Mizuho raised their target price on shares of Kinetik from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. Finally, Barclays boosted their target price on Kinetik from $43.00 to $47.00 and gave the company an "equal weight" rating in a research report on Monday, October 14th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat, Kinetik has a consensus rating of "Moderate Buy" and an average target price of $45.71.

About Kinetik

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.