Miller Howard Investments Inc. NY grew its stake in shares of Kinetik Holdings Inc. (NYSE:KNTK – Free Report) by 69.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 146,317 shares of the company’s stock after acquiring an additional 59,942 shares during the period. Miller Howard Investments Inc. NY owned about 0.09% of Kinetik worth $7,083,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CWM LLC grew its holdings in shares of Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after acquiring an additional 352 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Kinetik by 101.5% during the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in shares of Kinetik in the 4th quarter valued at $33,000. Los Angeles Capital Management LLC acquired a new position in shares of Kinetik in the 4th quarter valued at $40,000. Finally, Huntington National Bank increased its stake in Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after purchasing an additional 711 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.
Insider Buying and Selling at Kinetik
In other news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $50.52, for a total value of $27,006,173.28. Following the completion of the sale, the insider directly owned 428,894 shares of the company’s stock, valued at $21,667,724.88. This represents a 55.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders sold 1,071,107 shares of company stock valued at $53,172,463. 3.56% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
Get Our Latest Analysis on Kinetik
Kinetik Trading Up 3.1%
NYSE:KNTK opened at $48.47 on Wednesday. The firm has a market capitalization of $7.87 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 2.43 and a beta of 0.57. Kinetik Holdings Inc. has a 1-year low of $31.33 and a 1-year high of $51.51. The business’s fifty day moving average price is $47.80 and its 200 day moving average price is $43.59.
Kinetik (NYSE:KNTK – Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). Kinetik had a negative return on equity of 36.36% and a net margin of 28.58%.The business had revenue of $409.98 million for the quarter. During the same period in the previous year, the firm earned $0.05 EPS. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. Equities analysts forecast that Kinetik Holdings Inc. will post 0.62 earnings per share for the current year.
Kinetik Profile
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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