Exchange Traded Concepts LLC Purchases 739 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Exchange Traded Concepts LLC raised its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 0.9% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 81,230 shares of the company’s stock after acquiring an additional 739 shares during the period. Exchange Traded Concepts LLC’s holdings in Kinetik were worth $4,607,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in KNTK. Janney Montgomery Scott LLC raised its stake in shares of Kinetik by 69.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 132,977 shares of the company’s stock worth $7,541,000 after purchasing an additional 54,370 shares in the last quarter. Ballentine Partners LLC acquired a new stake in Kinetik in the fourth quarter valued at $212,000. Diversify Advisory Services LLC bought a new position in shares of Kinetik in the 4th quarter valued at about $269,000. Harbor Capital Advisors Inc. increased its stake in shares of Kinetik by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock worth $515,000 after purchasing an additional 174 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of Kinetik by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares during the period. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Stock Up 0.8 %

NASDAQ KNTK opened at $66.35 on Friday. The firm has a 50-day moving average price of $59.32 and a two-hundred day moving average price of $50.65. Kinetik Holdings Inc. has a 12-month low of $31.73 and a 12-month high of $67.60. The company has a market capitalization of $10.45 billion, a P/E ratio of 24.06, a P/E/G ratio of 1.80 and a beta of 2.91.

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

Kinetik Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Monday, February 3rd will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Monday, February 3rd. Kinetik’s payout ratio is currently 115.13%.

Analyst Ratings Changes

Several analysts have issued reports on KNTK shares. Barclays upped their price objective on Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Royal Bank of Canada lifted their price objective on shares of Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. JPMorgan Chase & Co. upped their price objective on shares of Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Citigroup raised their target price on shares of Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group raised their price objective on shares of Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $59.25.

Kinetik 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.