HUB Investment Partners LLC Has $410,000 Stock Holdings in Kinetik Holdings Inc. (NASDAQ:KNTK)

HUB Investment Partners LLC cut its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 18.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,233 shares of the company’s stock after selling 1,633 shares during the quarter. HUB Investment Partners LLC’s holdings in Kinetik were worth $410,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Principal Financial Group Inc. bought a new position in Kinetik in the third quarter valued at approximately $921,000. Intech Investment Management LLC bought a new stake in shares of Kinetik during the 3rd quarter valued at approximately $558,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Kinetik by 3.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 307,929 shares of the company’s stock valued at $13,937,000 after purchasing an additional 9,882 shares during the last quarter. Quantbot Technologies LP increased its position in Kinetik by 274.8% during the 3rd quarter. Quantbot Technologies LP now owns 54,566 shares of the company’s stock worth $2,470,000 after purchasing an additional 40,008 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in Kinetik in the 3rd quarter valued at approximately $1,887,000. 21.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KNTK has been the subject of several research analyst reports. Barclays lowered their price target on shares of Kinetik from $61.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. The Goldman Sachs Group increased 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. Wells Fargo & Company reduced their price target on Kinetik from $60.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. raised 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. Finally, Citigroup boosted their target price on shares of Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday, December 16th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $59.63.

Kinetik Price Performance

Shares of KNTK stock opened at $52.64 on Friday. The stock has a market capitalization of $8.31 billion, a PE ratio of 19.42, a PEG ratio of 1.52 and a beta of 2.85. The business’s 50 day simple moving average is $59.49 and its 200 day simple moving average is $55.03. Kinetik Holdings Inc. has a one year low of $37.04 and a one year high of $67.60.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd were given a dividend of $0.78 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.12 dividend on an annualized basis and a yield of 5.93%. Kinetik’s dividend payout ratio (DPR) is currently 305.88%.

Insiders Place Their Bets

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $52.66, for a total value of $55,004,370.54. Following the transaction, the insider now directly owns 657,583 shares of the company’s stock, valued at approximately $34,628,320.78. The trade was a 61.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.71% of the company’s stock.

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.