Susquehanna Fundamental Investments LLC Makes New $4.34 Million Investment in Kinetik Holdings Inc. (NASDAQ:KNTK)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 76,530 shares of the company’s stock, valued at approximately $4,340,000.

Other large investors have also made changes to their positions in the company. Stifel Financial Corp bought a new position in Kinetik during the 3rd quarter valued at about $202,000. Barclays PLC boosted its stake in shares of Kinetik by 34.5% in the 3rd quarter. Barclays PLC now owns 234,286 shares of the company’s stock valued at $10,603,000 after purchasing an additional 60,058 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in Kinetik during the 3rd quarter worth $921,000. JPMorgan Chase & Co. increased its holdings in Kinetik by 53.5% in the third quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company’s stock valued at $7,145,000 after purchasing an additional 55,050 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Kinetik by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares during the period. Institutional investors and hedge funds own 21.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on KNTK. US Capital Advisors raised shares of Kinetik from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. Wells Fargo & Company cut their price target on Kinetik from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. Barclays raised their target price on shares of Kinetik from $57.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 16th. Royal Bank of Canada lowered their target price on shares of Kinetik from $67.00 to $63.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Scotiabank cut their price target on Kinetik from $62.00 to $60.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $59.75.

Kinetik Trading Up 1.4 %

Shares of KNTK opened at $43.42 on Tuesday. The stock has a market capitalization of $6.85 billion, a PE ratio of 16.02, a P/E/G ratio of 1.52 and a beta of 2.68. Kinetik Holdings Inc. has a 12 month low of $37.65 and a 12 month high of $67.60. The firm’s 50 day moving average is $49.74 and its 200-day moving average is $55.09.

Kinetik Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 2nd. Stockholders of record on Friday, April 25th will be issued a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 7.19%. The ex-dividend date is Friday, April 25th. Kinetik’s dividend payout ratio (DPR) is currently 305.88%.

Insider Activity at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the completion of the sale, the insider now directly owns 657,583 shares in the company, valued at $34,628,320.78. This represents a 61.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.83% of the stock is owned by insiders.

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.