Kinetik Holdings Inc. (NASDAQ:KNTK) Stock Position Raised by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY grew its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 269,970 shares of the company’s stock after buying an additional 13,611 shares during the quarter. Miller Howard Investments Inc. NY owned approximately 0.17% of Kinetik worth $15,310,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. increased its position 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 buying an additional 174 shares during the last quarter. GAMMA Investing LLC raised its stake 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 acquiring an additional 213 shares in the last quarter. Fifth Third Bancorp acquired a new stake in Kinetik in the 4th quarter worth approximately $26,000. Blue Trust Inc. grew its holdings in Kinetik by 18.1% during the fourth quarter. Blue Trust Inc. now owns 4,488 shares of the company’s stock valued at $255,000 after purchasing an additional 687 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Kinetik by 0.9% in the fourth quarter. Exchange Traded Concepts LLC now owns 81,230 shares of the company’s stock valued at $4,607,000 after purchasing an additional 739 shares during the period. Institutional investors own 21.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on KNTK. Scotiabank decreased their price objective on shares of Kinetik from $64.00 to $62.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Wells Fargo & Company boosted their price objective on Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised their target price on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Mizuho upped their price target on Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Royal Bank of Canada raised their price objective on shares of Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $59.25.

Kinetik Price Performance

Shares of Kinetik stock opened at $63.07 on Friday. Kinetik Holdings Inc. has a 52-week low of $31.98 and a 52-week high of $67.60. The firm has a market capitalization of $9.94 billion, a PE ratio of 23.09, a price-to-earnings-growth ratio of 1.60 and a beta of 2.89. The company’s fifty day moving average price is $60.10 and its two-hundred day moving average price is $52.13.

Kinetik (NASDAQ:KNTK) last posted 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 negative return on equity of 39.48% and a net margin of 30.25%. The business had revenue of $396.40 million during the quarter, compared to analyst estimates of $331.21 million. During the same period last year, the company earned $0.21 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. Analysts predict that Kinetik Holdings Inc. will post 1.96 earnings per share for the current fiscal year.

Kinetik Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Monday, February 3rd will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.12 annualized dividend and a dividend yield of 4.95%. Kinetik’s dividend payout ratio (DPR) is presently 115.13%.

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.