Janney Montgomery Scott LLC Has $7.54 Million Stake in Kinetik Holdings Inc. (NASDAQ:KNTK)

Janney Montgomery Scott LLC lifted its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 69.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 132,977 shares of the company’s stock after buying an additional 54,370 shares during the quarter. Janney Montgomery Scott LLC owned about 0.08% of Kinetik worth $7,541,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Merewether Investment Management LP increased its stake in shares of Kinetik by 56.6% in the 3rd quarter. Merewether Investment Management LP now owns 662,300 shares of the company’s stock valued at $29,976,000 after acquiring an additional 239,500 shares in the last quarter. Gilman Hill Asset Management LLC increased its stake in Kinetik by 551.6% in the third quarter. Gilman Hill Asset Management LLC now owns 244,524 shares of the company’s stock valued at $11,067,000 after purchasing an additional 206,999 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Kinetik by 70.3% during the second quarter. Dimensional Fund Advisors LP now owns 456,740 shares of the company’s stock valued at $18,927,000 after purchasing an additional 188,533 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Kinetik by 46.5% during the 2nd quarter. Point72 Asset Management L.P. now owns 269,958 shares of the company’s stock worth $11,187,000 after purchasing an additional 85,748 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of Kinetik in the 3rd quarter valued at about $3,297,000. Institutional investors own 21.11% of the company’s stock.

Kinetik Trading Up 3.6 %

Shares of NASDAQ:KNTK opened at $63.45 on Wednesday. Kinetik Holdings Inc. has a 12 month low of $31.73 and a 12 month high of $67.60. The stock has a market cap of $10.00 billion, a P/E ratio of 23.41, a P/E/G ratio of 1.80 and a beta of 2.91. The company has a 50 day moving average of $59.43 and a 200 day moving average of $51.05.

Kinetik (NASDAQ:KNTK) last released its quarterly earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The firm had revenue of $396.40 million for the quarter, compared to analysts’ expectations of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The company’s revenue for the quarter was up 20.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.21 EPS. On average, equities analysts forecast that Kinetik Holdings Inc. will post 1.35 earnings per share for the current fiscal year.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd will be issued a $0.78 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.12 annualized dividend and a yield of 4.92%. Kinetik’s dividend payout ratio (DPR) is presently 115.13%.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Scotiabank dropped their price target on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, January 21st. Barclays increased their target price on Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their price target on shares of Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Mizuho raised their price objective on shares of Kinetik from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Citigroup lifted their price objective on shares of Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Kinetik currently has an average rating of “Moderate Buy” and an average price target of $59.25.

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.