Quantbot Technologies LP grew its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) by 274.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,566 shares of the company's stock after acquiring an additional 40,008 shares during the period. Quantbot Technologies LP's holdings in Kinetik were worth $2,470,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the company. Beach Investment Counsel Inc. PA acquired a new position in shares of Kinetik in the 2nd quarter valued at about $27,000. Ashton Thomas Securities LLC acquired a new position in Kinetik in the third quarter valued at approximately $46,000. SL Advisors LLC grew its holdings in shares of Kinetik by 5.0% during the third 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. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Kinetik by 45.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,884 shares of the company's stock worth $285,000 after purchasing an additional 2,158 shares during the period. Finally, Van ECK Associates Corp lifted 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 last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.
Kinetik Stock Up 0.6 %
Shares of KNTK traded up $0.36 during mid-day trading on Friday, reaching $59.02. The company's stock had a trading volume of 415,335 shares, compared to its average volume of 515,496. Kinetik Holdings Inc. has a 1 year low of $31.73 and a 1 year high of $62.55. The company has a market cap of $9.30 billion, a price-to-earnings ratio of 21.65, a price-to-earnings-growth ratio of 2.72 and a beta of 2.91. The business has a fifty day moving average of $51.79 and a 200 day moving average of $45.37.
Kinetik (NASDAQ:KNTK - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $396.40 million for the quarter, compared to analysts' expectations of $331.21 million. During the same period in the previous year, the firm posted $0.21 earnings per share. The business's revenue for the quarter was up 20.0% on a year-over-year basis. On average, analysts predict that Kinetik Holdings Inc. will post 1.46 earnings per share for the current year.
Kinetik Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were given a $0.78 dividend. This is a positive change from Kinetik's previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a yield of 5.29%. The ex-dividend date of this dividend was Monday, October 28th. Kinetik's dividend payout ratio is presently 115.13%.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Barclays increased their target price on Kinetik from $43.00 to $47.00 and gave the stock an "equal weight" rating in a research report 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 report on Wednesday, October 16th. Finally, Mizuho upped their price target on shares of Kinetik from $47.00 to $55.00 and gave the company an "outperform" rating in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat, Kinetik presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.71.
Read Our Latest Stock Analysis on KNTK
About Kinetik
(
Free Report)
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.
Featured Articles
Before you consider Kinetik, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kinetik wasn't on the list.
While Kinetik currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
