Quaero Capital S.A. Grows Stock Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

Quaero Capital S.A. lifted its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 92.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,800 shares of the company's stock after purchasing an additional 12,400 shares during the period. Kinetik accounts for about 1.9% of Quaero Capital S.A.'s portfolio, making the stock its 22nd biggest position. Quaero Capital S.A.'s holdings in Kinetik were worth $1,463,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC boosted its position in shares of Kinetik by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 877,887 shares of the company's stock valued at $39,742,000 after purchasing an additional 13,644 shares in the last quarter. Merewether Investment Management LP boosted its position in shares of Kinetik by 56.6% during the 3rd quarter. Merewether Investment Management LP now owns 662,300 shares of the company's stock valued at $29,976,000 after purchasing an additional 239,500 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT boosted its position in shares of Kinetik by 10.5% during the 4th quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 440,000 shares of the company's stock valued at $24,952,000 after purchasing an additional 41,864 shares in the last quarter. Point72 Asset Management L.P. boosted its position in shares of Kinetik by 30.6% during the 3rd quarter. Point72 Asset Management L.P. now owns 352,558 shares of the company's stock valued at $15,957,000 after purchasing an additional 82,600 shares in the last quarter. Finally, Advisors Asset Management Inc. boosted its position in shares of Kinetik by 26.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 318,938 shares of the company's stock valued at $14,435,000 after purchasing an additional 66,329 shares in the last quarter. Institutional investors own 21.11% of the company's stock.

Kinetik Trading Down 0.8 %

Shares of KNTK traded down $0.48 on Wednesday, reaching $60.59. 479,264 shares of the company's stock traded hands, compared to its average volume of 661,786. The stock has a market cap of $9.54 billion, a PE ratio of 22.36, a PEG ratio of 1.56 and a beta of 2.89. The stock's 50 day simple moving average is $60.83 and its two-hundred day simple moving average is $53.25. Kinetik Holdings Inc. has a 52-week low of $32.96 and a 52-week high of $67.60.

Kinetik Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Monday, February 3rd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date of this dividend was Monday, February 3rd. Kinetik's payout ratio is 115.13%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on KNTK. Wells Fargo & Company increased their price target on Kinetik from $58.00 to $60.00 and gave the stock an "equal weight" rating in a report on Wednesday, December 18th. Mizuho increased their price target on Kinetik from $47.00 to $55.00 and gave the stock an "outperform" rating in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Barclays increased their price target on Kinetik from $47.00 to $61.00 and gave the stock an "equal weight" rating in a report on Monday, January 13th. Finally, Citigroup increased their price target on Kinetik from $54.00 to $58.00 and gave the stock a "neutral" rating in a report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, Kinetik presently has an average rating of "Moderate Buy" and an average target price of $59.25.

Kinetik 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.