Barclays PLC Has $10.60 Million Stake in Kinetik Holdings Inc. (NASDAQ:KNTK)

Barclays PLC increased its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 34.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,286 shares of the company's stock after buying an additional 60,058 shares during the quarter. Barclays PLC owned about 0.15% of Kinetik worth $10,603,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KNTK. Zurcher Kantonalbank Zurich Cantonalbank lifted 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 acquiring an additional 983 shares during the period. Ashton Thomas Securities LLC acquired a new stake in Kinetik during the third quarter worth about $46,000. SL Advisors LLC increased its holdings in 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 buying an additional 1,037 shares during the period. Van ECK Associates Corp raised its position 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 valued at $586,000 after buying an additional 2,318 shares in the last quarter. Finally, SG Americas Securities LLC lifted its holdings 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 worth $257,000 after acquiring an additional 2,375 shares during the period. Institutional investors and hedge funds own 21.11% of the company's stock.

Kinetik Stock Down 0.4 %

KNTK traded down $0.24 during midday trading on Tuesday, hitting $56.19. 864,937 shares of the company were exchanged, compared to its average volume of 517,882. The firm has a market capitalization of $8.85 billion, a P/E ratio of 20.73, a P/E/G ratio of 2.83 and a beta of 2.95. The firm's 50 day moving average price is $54.34 and its 200-day moving average price is $46.88. Kinetik Holdings Inc. has a 1-year low of $31.73 and a 1-year high of $62.55.

Kinetik (NASDAQ:KNTK - Get Free Report) last released its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share 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 firm had revenue of $396.40 million for the quarter, compared to analyst estimates of $331.21 million. During the same period in the prior year, the company posted $0.21 EPS. The business's revenue for the quarter was up 20.0% compared to the same quarter last year. On average, sell-side analysts predict that Kinetik Holdings Inc. will post 1.35 earnings per share for the current fiscal year.

Kinetik Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were given a dividend of $0.78 per share. This is an increase from Kinetik's previous quarterly dividend of $0.75. The ex-dividend date of this dividend was Monday, October 28th. This represents a $3.12 annualized dividend and a dividend yield of 5.55%. Kinetik's dividend payout ratio (DPR) is 115.13%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on KNTK shares. Mizuho lifted their price objective on shares of Kinetik from $47.00 to $55.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Barclays lifted their price target on Kinetik from $43.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Royal Bank of Canada boosted their target price on Kinetik from $46.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Finally, Citigroup raised their price target on shares of Kinetik from $54.00 to $58.00 and gave the company a "neutral" rating in a research note on Monday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $49.00.

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.