Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Acquired by Barclays PLC

Barclays PLC grew its stake in Kinetik Holdings Inc. (NASDAQ:KNTK) by 34.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 234,286 shares of the company’s stock after purchasing an additional 60,058 shares during the period. Barclays PLC owned approximately 0.15% of Kinetik worth $10,603,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Versor Investments LP acquired a new stake in shares of Kinetik in the 3rd quarter worth $543,000. Principal Financial Group Inc. acquired a new stake in Kinetik during the third quarter worth about $921,000. Eos Management L.P. raised its stake in Kinetik by 84.9% during the third quarter. Eos Management L.P. now owns 27,000 shares of the company’s stock worth $1,222,000 after purchasing an additional 12,400 shares during the period. Quest Partners LLC boosted its holdings in Kinetik by 261.7% in the 3rd quarter. Quest Partners LLC now owns 41,448 shares of the company’s stock valued at $1,876,000 after purchasing an additional 29,988 shares during the last quarter. Finally, Dakota Wealth Management purchased a new stake in shares of Kinetik in the 3rd quarter valued at approximately $891,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Price Performance

NASDAQ KNTK opened at $56.45 on Tuesday. The company has a market cap of $8.89 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.83 and a beta of 2.95. The stock has a 50-day moving average of $54.34 and a two-hundred day moving average of $46.88. Kinetik Holdings Inc. has a 1-year low of $31.73 and a 1-year high of $62.55.

Kinetik (NASDAQ:KNTK) last announced its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share 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 for the quarter, compared to analysts’ expectations of $331.21 million. During the same period in the previous year, the company earned $0.21 earnings per share. Kinetik’s quarterly revenue was up 20.0% on a year-over-year basis. On average, analysts anticipate that Kinetik Holdings Inc. will post 1.35 EPS for the current fiscal year.

Kinetik Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were paid a $0.78 dividend. This is a boost from Kinetik’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a dividend yield of 5.53%. The ex-dividend date of this dividend was Monday, October 28th. Kinetik’s dividend payout ratio (DPR) is presently 115.13%.

Analyst Ratings Changes

KNTK has been the topic of several analyst reports. Citigroup lifted their price target on shares of Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday. Royal Bank of Canada upped their price target on Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Barclays raised their price objective on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Mizuho boosted their price objective on shares of Kinetik from $47.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $49.00.

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.