Waterloo Capital L.P. Sells 875 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Waterloo Capital L.P. trimmed its holdings in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 5.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 15,175 shares of the company’s stock after selling 875 shares during the period. Waterloo Capital L.P.’s holdings in Kinetik were worth $861,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. Harbor Capital Advisors Inc. lifted its stake in Kinetik by 2.0% during the fourth 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 period. 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 worth $29,000 after buying an additional 213 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Kinetik by 5.3% during the 4th quarter. Private Advisor Group LLC now owns 8,859 shares of the company’s stock worth $502,000 after buying an additional 448 shares during the period. Fifth Third Bancorp acquired a new stake in Kinetik in the 4th quarter valued at $26,000. Finally, Canton Hathaway LLC bought a new stake in Kinetik in the fourth quarter valued at $28,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Kinetik Stock Performance

Shares of KNTK opened at $43.46 on Monday. The firm has a market capitalization of $6.86 billion, a price-to-earnings ratio of 16.04, a PEG ratio of 1.52 and a beta of 2.68. The business’s fifty day moving average price is $56.88 and its two-hundred day moving average price is $55.68. Kinetik Holdings Inc. has a 52 week low of $37.65 and a 52 week high of $67.60.

Kinetik Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Investors of record on Monday, February 3rd were given a $0.78 dividend. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.12 dividend on an annualized basis and a yield of 7.18%. Kinetik’s payout ratio is 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 company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $52.66, for a total transaction of $55,004,370.54. Following the completion of the sale, the insider now owns 657,583 shares in the company, valued at approximately $34,628,320.78. The trade was a 61.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.71% of the company’s stock.

Wall Street Analysts Forecast Growth

KNTK has been the subject of a number of analyst reports. Citigroup lifted their price objective on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. 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 report on Thursday, December 19th. Scotiabank dropped 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. boosted their target price on Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, January 15th. Finally, Royal Bank of Canada dropped their price target on Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $59.63.

About Kinetik

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.