Atria Investments Inc Invests $412,000 in Kinetik Holdings Inc. (NASDAQ:KNTK)

Atria Investments Inc acquired a new stake in Kinetik Holdings Inc. (NASDAQ:KNTK) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,267 shares of the company’s stock, valued at approximately $412,000.

Other large investors have also recently bought and sold shares of the company. Fifth Third Bancorp acquired a new stake in shares of Kinetik in the 4th quarter valued at about $26,000. Canton Hathaway LLC bought a new position in Kinetik in the fourth quarter worth approximately $28,000. GAMMA Investing LLC grew its stake in Kinetik by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares during the period. Bright Futures Wealth Management LLC. bought a new stake in shares of Kinetik during the fourth quarter valued at approximately $189,000. Finally, New York State Teachers Retirement System acquired a new position in shares of Kinetik during the fourth quarter worth approximately $197,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

KNTK has been the subject of a number of analyst reports. Scotiabank reduced their price objective on shares of Kinetik from $62.00 to $60.00 and set a “sector outperform” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price target on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Royal Bank of Canada lowered their price objective on Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a research note on Thursday. The Goldman Sachs Group lifted their target price on Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Citigroup increased their price target on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $59.63.

Insider Buying and Selling at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of Kinetik stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $55.63, for a total value of $219,873,736.53. Following the transaction, the insider now owns 1,044,520 shares in the company, valued at approximately $58,106,647.60. The trade was a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.71% of the stock is currently owned by company insiders.

Kinetik Trading Up 2.7 %

KNTK stock opened at $53.05 on Monday. The firm has a 50 day moving average of $60.08 and a 200-day moving average of $54.86. The firm has a market capitalization of $8.37 billion, a P/E ratio of 19.57, a price-to-earnings-growth ratio of 1.52 and a beta of 2.85. Kinetik Holdings Inc. has a 12 month low of $36.56 and a 12 month high of $67.60.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Monday, February 3rd were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 5.88%. The ex-dividend date of this dividend was Monday, February 3rd. Kinetik’s dividend payout ratio is currently 305.88%.

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.