Kinetik Holdings Inc. (NASDAQ:KNTK) Stock Holdings Lifted by SG Americas Securities LLC

SG Americas Securities LLC lifted its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK) by 71.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,678 shares of the company’s stock after buying an additional 2,375 shares during the quarter. SG Americas Securities LLC’s holdings in Kinetik were worth $257,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Point72 Asset Management L.P. lifted its position in shares of Kinetik by 46.5% in the 2nd quarter. Point72 Asset Management L.P. now owns 269,958 shares of the company’s stock worth $11,187,000 after buying an additional 85,748 shares during the last quarter. Creative Planning lifted its position in shares of Kinetik by 83.1% in the 2nd quarter. Creative Planning now owns 15,340 shares of the company’s stock worth $636,000 after buying an additional 6,961 shares during the last quarter. Susquehanna Fundamental Investments LLC lifted its position in Kinetik by 252.3% in the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 66,694 shares of the company’s stock valued at $2,764,000 after purchasing an additional 47,761 shares during the last quarter. Mackenzie Financial Corp lifted its position in Kinetik by 60.1% in the 2nd quarter. Mackenzie Financial Corp now owns 73,918 shares of the company’s stock valued at $3,063,000 after purchasing an additional 27,737 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Kinetik by 20.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 57,777 shares of the company’s stock valued at $2,394,000 after purchasing an additional 9,860 shares during the last quarter. 21.11% of the stock is currently owned by institutional investors.

Kinetik Trading Up 1.9 %

Kinetik stock opened at $50.64 on Monday. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 20.75, a PEG ratio of 2.60 and a beta of 2.91. The company’s 50-day moving average price is $45.42 and its two-hundred day moving average price is $42.22. Kinetik Holdings Inc. has a 52 week low of $31.73 and a 52 week high of $50.83.

Kinetik (NASDAQ:KNTK) last released its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The business had revenue of $359.50 million for the quarter, compared to the consensus estimate of $305.94 million. During the same period in the previous year, the firm earned $0.41 EPS. The business’s revenue for the quarter was up 21.4% on a year-over-year basis. Research analysts expect that Kinetik Holdings Inc. will post 1.39 earnings per share for the current fiscal year.

Kinetik Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Monday, October 28th will be issued a $0.78 dividend. This is an increase from Kinetik’s previous quarterly dividend of $0.75. This represents a $3.12 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date is Monday, October 28th. Kinetik’s payout ratio is presently 122.95%.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Kinetik from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th. Royal Bank of Canada lifted their price objective on shares of Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Finally, Scotiabank raised their target price on shares of Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Tuesday, July 2nd. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $43.86.

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.