Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) major shareholder Isq Global Fund Ii Gp Llc sold 3,107 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $55.07, for a total transaction of $171,102.49. Following the transaction, the insider directly owned 925,787 shares in the company, valued at $50,983,090.09. This trade represents a 0.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
Isq Global Fund Ii Gp Llc also recently made the following trade(s):
- On Monday, August 17th, Isq Global Fund Ii Gp Llc sold 135,102 shares of Kinetik stock. The shares were sold at an average price of $52.78, for a total transaction of $7,130,683.56.
- On Friday, August 14th, Isq Global Fund Ii Gp Llc sold 112,160 shares of Kinetik stock. The stock was sold at an average price of $53.48, for a total transaction of $5,998,316.80.
- On Thursday, August 13th, Isq Global Fund Ii Gp Llc sold 113,075 shares of Kinetik stock. The shares were sold at an average price of $51.60, for a total transaction of $5,834,670.00.
- On Wednesday, August 12th, Isq Global Fund Ii Gp Llc sold 84,701 shares of Kinetik stock. The shares were sold at an average price of $51.52, for a total transaction of $4,363,795.52.
- On Tuesday, August 11th, Isq Global Fund Ii Gp Llc sold 147,516 shares of Kinetik stock. The stock was sold at an average price of $52.03, for a total transaction 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 value 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 value 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 value 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 value of $108,837.00.
Kinetik Stock Down 0.4%
Shares of NYSE KNTK traded down $0.24 during mid-day trading on Thursday, reaching $54.47. 1,119,421 shares of the company were exchanged, compared to its average volume of 1,170,829. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of 19.74, a P/E/G ratio of 1.35 and a beta of 0.56. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $56.10. The firm has a 50-day moving average of $49.39 and a 200 day moving average of $47.38.
Analysts Set New Price Targets
KNTK has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Kinetik from a “strong sell” rating to a “hold” rating in a report on Saturday, August 8th. Wells Fargo & Company reissued an “overweight” rating and set a $54.00 target price on shares of Kinetik in a research report on Monday, August 10th. Weiss Ratings upgraded shares of Kinetik from a “hold (c)” rating to a “hold (c+)” rating in a research note on Tuesday, August 11th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 target price on shares of Kinetik in a research note on Friday, May 8th. Finally, Zacks Research raised Kinetik from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.27.
View Our Latest Analysis on KNTK
Institutional Investors Weigh In On Kinetik
A number of large investors have recently modified their holdings of the business. Zimmer Partners LP purchased a new stake in Kinetik during the 4th quarter worth approximately $98,611,000. Wellington Management Group LLP raised its holdings in shares of Kinetik by 149.6% in the fourth quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company’s stock worth $57,983,000 after buying an additional 964,130 shares during the last quarter. Cohen & Steers Inc. raised its holdings in shares of Kinetik by 82.5% in the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock worth $66,458,000 after buying an additional 833,224 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Kinetik by 382.8% during the fourth quarter. Principal Financial Group Inc. now owns 1,018,692 shares of the company’s stock worth $36,724,000 after buying an additional 807,707 shares during the period. Finally, Adage Capital Partners GP L.L.C. acquired a new stake in shares of Kinetik during the second quarter worth $22,025,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.
About Kinetik
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.
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