Kinetik (NYSE:KNTK) Major Shareholder Isq Global Fund Ii Gp Llc Sells 84,701 Shares

Kinetik Holdings Inc. (NYSE:KNTKGet Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 84,701 shares of the stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $51.52, for a total value of $4,363,795.52. Following the completion of the transaction, the insider directly owned 1,354,129 shares of the company’s stock, valued at approximately $69,764,726.08. The trade was a 5.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Isq Global Fund Ii Gp Llc also recently made the following trade(s):

  • On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The shares were sold at an average price of $52.03, for a total value of $7,675,257.48.
  • On Monday, August 10th, Isq Global Fund Ii Gp Llc sold 78,474 shares of Kinetik stock. The shares were sold at an average price of $50.87, for a total transaction of $3,991,972.38.
  • On Friday, August 7th, Isq Global Fund Ii Gp Llc sold 26,550 shares of Kinetik stock. The shares were sold at an average price of $50.24, for a total transaction of $1,333,872.00.
  • On Thursday, August 6th, Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock. The shares were sold at an average price of $50.52, for a total transaction of $11,889,831.48.
  • On Monday, August 3rd, Isq Global Fund Ii Gp Llc sold 2,175 shares of Kinetik stock. The stock was sold at an average price of $50.04, for a total transaction of $108,837.00.

Kinetik Trading Up 0.2%

Shares of NYSE:KNTK opened at $51.22 on Thursday. The company has a 50 day moving average of $48.64 and a 200-day moving average of $46.90. The firm has a market cap of $8.32 billion, a P/E ratio of 18.56, a P/E/G ratio of 1.69 and a beta of 0.56. Kinetik Holdings Inc. has a twelve month low of $31.33 and a twelve month high of $52.69.

Kinetik (NYSE:KNTKGet Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The business had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. During the same quarter last year, the business earned $0.33 earnings per share. The business’s revenue for the quarter was up 36.3% on a year-over-year basis. Equities research analysts forecast that Kinetik Holdings Inc. will post 0.97 EPS for the current year.

Analyst Ratings Changes

KNTK has been the topic of several research analyst reports. JPMorgan Chase & Co. lifted their price target on Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. Truist Financial raised their target price on Kinetik from $53.00 to $59.00 and gave the company a “buy” rating in a research note on Wednesday. Scotiabank reaffirmed an “outperform” rating and set a $52.00 target price (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. Barclays set a $51.00 price target on shares of Kinetik and gave the stock an “equal weight” rating in a research report on Thursday, August 6th. Finally, Weiss Ratings upgraded shares of Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research report on Tuesday. Two investment analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $52.87.

Check Out Our Latest Research Report on KNTK

Hedge Funds Weigh In On Kinetik

Institutional investors have recently bought and sold shares of the stock. Miller Howard Investments Inc. NY raised its holdings in shares of Kinetik by 69.4% during the first quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock valued at $7,083,000 after acquiring an additional 59,942 shares during the period. Vanguard Group Inc. boosted its position in Kinetik by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock valued at $183,739,000 after purchasing an additional 439,586 shares during the last quarter. Infrastructure Capital Advisors LLC acquired a new stake in shares of Kinetik during the 4th quarter valued at about $9,323,000. HighTower Advisors LLC lifted its stake in Kinetik by 33.1% in the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock valued at $3,710,000 after acquiring an additional 25,574 shares during the last quarter. Finally, Jennison Associates LLC lifted its stake in shares of Kinetik by 33.0% in the 4th quarter. Jennison Associates LLC now owns 270,126 shares of the company’s stock valued at $9,738,000 after purchasing an additional 66,992 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Key Headlines Impacting Kinetik

Here are the key news stories impacting Kinetik this week:

  • Positive Sentiment: Truist raised its price target to $59 from $53 and maintained a “buy” rating. The new target implies approximately 15.2% upside from the referenced share price, signaling confidence in Kinetik’s growth prospects and valuation. Benzinga analyst report
  • Neutral Sentiment: Analysts were reported to have set a price target of $51.40, broadly consistent with Kinetik’s recent trading level. This suggests limited near-term upside under that estimate, although it does not represent a rating downgrade. Analysts set Kinetik price target
  • Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 Kinetik shares from August 10 through August 12 for approximately $16.0 million. The fund’s reported position fell from 1,586,346 shares to 1,354,129 shares, a reduction of about 14.6%. Although the sales may reflect portfolio management rather than concerns about Kinetik’s fundamentals, the size and consecutive timing of the disposals could weigh on investor sentiment and create additional supply. SEC insider transaction filing

Kinetik Company Profile

(Get Free Report)

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.

Featured Articles

Insider Buying and Selling by Quarter for Kinetik (NYSE:KNTK)

Receive News & Ratings for Kinetik Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kinetik and related companies with MarketBeat.com's FREE daily email newsletter.