Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Sold by Dakota Wealth Management

Dakota Wealth Management decreased its position in Kinetik Holdings Inc. (NASDAQ:KNTK) by 2.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 19,170 shares of the company’s stock after selling 519 shares during the period. Dakota Wealth Management’s holdings in Kinetik were worth $1,087,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KNTK. Dimensional Fund Advisors LP grew its holdings in Kinetik by 70.3% in 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 last quarter. Hsbc Holdings PLC acquired a new stake in Kinetik in the second quarter valued at $210,000. Canada Pension Plan Investment Board acquired a new stake in Kinetik in the second quarter valued at $3,091,000. Marshall Wace LLP boosted its stake in shares of Kinetik by 196.0% during the second quarter. Marshall Wace LLP now owns 302,892 shares of the company’s stock valued at $12,552,000 after acquiring an additional 200,572 shares during the last quarter. Finally, Point72 DIFC Ltd acquired a new stake in shares of Kinetik during the second quarter valued at $187,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on KNTK shares. Citigroup increased their price objective on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Barclays increased their target price on Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. JPMorgan Chase & Co. increased their target price on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Royal Bank of Canada raised their price objective on Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Wells Fargo & Company raised their price objective on Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Kinetik currently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

Kinetik Stock Performance

KNTK stock opened at $65.93 on Friday. Kinetik Holdings Inc. has a 1 year low of $31.73 and a 1 year high of $67.60. The firm has a market cap of $10.39 billion, a P/E ratio of 24.33, a price-to-earnings-growth ratio of 1.84 and a beta of 2.91. The stock has a 50-day simple moving average of $59.15 and a 200-day simple moving average of $50.48.

Kinetik (NASDAQ:KNTK) last issued its quarterly earnings data 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). Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business had revenue of $396.40 million for the quarter, compared to analyst estimates of $331.21 million. During the same quarter last year, the business earned $0.21 EPS. Kinetik’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities research analysts predict that Kinetik Holdings Inc. will post 1.35 EPS for the current year.

Kinetik Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd will be given a $0.78 dividend. The ex-dividend date is Monday, February 3rd. This represents a $3.12 annualized dividend and a dividend yield of 4.73%. Kinetik’s payout ratio is 115.13%.

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.