Mutual Advisors LLC Sells 2,216 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Mutual Advisors LLC lowered its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 40.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,267 shares of the company’s stock after selling 2,216 shares during the period. Mutual Advisors LLC’s holdings in Kinetik were worth $185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Merewether Investment Management LP raised its stake in shares of Kinetik by 56.6% during the third quarter. Merewether Investment Management LP now owns 662,300 shares of the company’s stock valued at $29,976,000 after acquiring an additional 239,500 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of Kinetik by 551.6% during the third quarter. Gilman Hill Asset Management LLC now owns 244,524 shares of the company’s stock valued at $11,067,000 after acquiring an additional 206,999 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Kinetik by 70.3% during the second quarter. Dimensional Fund Advisors LP now owns 456,740 shares of the company’s stock valued at $18,927,000 after acquiring an additional 188,533 shares in the last quarter. Point72 Asset Management L.P. raised its stake in shares of Kinetik by 30.6% during the third quarter. Point72 Asset Management L.P. now owns 352,558 shares of the company’s stock valued at $15,957,000 after acquiring an additional 82,600 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in shares of Kinetik during the third quarter valued at approximately $3,558,000. Institutional investors own 21.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KNTK shares. The Goldman Sachs Group lifted their price target on shares of Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Citigroup boosted their price objective on shares of Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Wells Fargo & Company boosted their price objective on shares of Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on shares of Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada boosted their price objective on shares of Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $59.25.

Kinetik Trading Up 2.2 %

NASDAQ KNTK opened at $64.80 on Thursday. The firm’s fifty day simple moving average is $59.51 and its two-hundred day simple moving average is $51.15. Kinetik Holdings Inc. has a 12-month low of $31.73 and a 12-month high of $67.60. The firm has a market capitalization of $10.21 billion, a P/E ratio of 23.91, a P/E/G ratio of 1.80 and a beta of 2.91.

Kinetik (NASDAQ:KNTK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). Kinetik had a negative return on equity of 39.48% and a net margin of 30.25%. The firm had revenue of $396.40 million during the quarter, compared to analysts’ expectations of $331.21 million. During the same period in the prior year, the firm posted $0.21 earnings per share. Kinetik’s revenue for the quarter was up 20.0% compared to the same quarter last year. As a group, sell-side analysts predict that Kinetik Holdings Inc. will post 1.35 earnings per share for the current fiscal year.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd will be issued a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 4.81%. The ex-dividend date is Monday, February 3rd. Kinetik’s dividend payout ratio is currently 115.13%.

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.