Public Sector Pension Investment Board Invests $7.28 Million in Kinetik Holdings Inc. $KNTK

Public Sector Pension Investment Board acquired a new stake in Kinetik Holdings Inc. (NYSE:KNTK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 170,251 shares of the company’s stock, valued at approximately $7,277,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Chickasaw Capital Management LLC increased its position in Kinetik by 63.9% in the third quarter. Chickasaw Capital Management LLC now owns 1,098,447 shares of the company’s stock worth $46,948,000 after buying an additional 428,103 shares during the last quarter. Fort Washington Investment Advisors Inc. OH raised its stake in Kinetik by 90.5% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 61,695 shares of the company’s stock valued at $2,637,000 after acquiring an additional 29,303 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Kinetik by 86.9% in the 2nd quarter. Dynamic Technology Lab Private Ltd now owns 17,360 shares of the company’s stock valued at $765,000 after acquiring an additional 8,070 shares during the period. Eagle Global Advisors LLC lifted its holdings in Kinetik by 70.7% during the third quarter. Eagle Global Advisors LLC now owns 449,980 shares of the company’s stock valued at $19,232,000 after purchasing an additional 186,444 shares during the last quarter. Finally, Westwood Holdings Group Inc. boosted its position in Kinetik by 4.6% during the second quarter. Westwood Holdings Group Inc. now owns 1,178,890 shares of the company’s stock worth $51,930,000 after purchasing an additional 52,058 shares during the period. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Insider Buying and Selling

In other news, insider Matthew Wall sold 8,083 shares of the firm’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $36.05, for a total value of $291,392.15. Following the transaction, the insider directly owned 554,738 shares in the company, valued at $19,998,304.90. This trade represents a 1.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 3.83% of the company’s stock.

Kinetik Trading Down 1.3%

Shares of Kinetik stock opened at $41.00 on Wednesday. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $61.95. The company has a market cap of $6.63 billion, a P/E ratio of 97.62, a PEG ratio of 1.01 and a beta of 0.73. The company’s fifty day simple moving average is $38.03 and its two-hundred day simple moving average is $38.67.

Wall Street Analyst Weigh In

KNTK has been the subject of several analyst reports. Wolfe Research downgraded shares of Kinetik from an “outperform” rating to a “peer perform” rating in a report on Tuesday, January 27th. Zacks Research lowered Kinetik from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Raymond James Financial set a $46.00 price target on Kinetik in a research report on Monday, January 5th. Scotiabank reaffirmed an “outperform” rating and issued a $48.00 price target on shares of Kinetik in a research note on Friday, January 16th. Finally, The Goldman Sachs Group dropped their price objective on Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $46.00.

About Kinetik

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.