Kinetik Holdings Inc. $KNTK Shares Purchased by Eagle Global Advisors LLC

Eagle Global Advisors LLC grew its stake in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) by 98.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 263,536 shares of the company's stock after purchasing an additional 130,899 shares during the quarter. Eagle Global Advisors LLC owned approximately 0.17% of Kinetik worth $11,609,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of KNTK. Millennium Management LLC raised its stake in shares of Kinetik by 97.6% in the 4th quarter. Millennium Management LLC now owns 70,227 shares of the company's stock valued at $3,983,000 after purchasing an additional 34,679 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Kinetik by 1.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 62,498 shares of the company's stock valued at $3,544,000 after purchasing an additional 738 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Kinetik in the 4th quarter valued at about $267,000. GAMMA Investing LLC raised its stake in shares of Kinetik by 5,716.5% in the 1st quarter. GAMMA Investing LLC now owns 29,606 shares of the company's stock valued at $1,538,000 after purchasing an additional 29,097 shares in the last quarter. Finally, Chickasaw Capital Management LLC raised its stake in shares of Kinetik by 0.8% in the 1st quarter. Chickasaw Capital Management LLC now owns 622,388 shares of the company's stock valued at $32,327,000 after purchasing an additional 4,732 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company's stock.

Kinetik Trading Up 0.8%

NYSE KNTK opened at $45.63 on Friday. Kinetik Holdings Inc. has a 52 week low of $39.25 and a 52 week high of $67.60. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 61.66, a price-to-earnings-growth ratio of 1.12 and a beta of 3.16. The company has a 50-day moving average price of $42.24 and a two-hundred day moving average price of $44.02.

Kinetik (NYSE:KNTK - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.14 by $0.19. Kinetik had a net margin of 8.21% and a negative return on equity of 6.16%. During the same period in the previous year, the business posted $0.54 earnings per share. The company's revenue was up 18.7% compared to the same quarter last year.

Kinetik Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 25th were given a $0.78 dividend. The ex-dividend date was Friday, July 25th. This represents a $3.12 annualized dividend and a yield of 6.8%. Kinetik's dividend payout ratio is 421.62%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on KNTK shares. Zacks Research upgraded shares of Kinetik from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Mizuho set a $53.00 price objective on shares of Kinetik and gave the company an "outperform" rating in a research report on Friday, August 29th. Royal Bank Of Canada lowered their price objective on shares of Kinetik from $57.00 to $55.00 and set an "outperform" rating for the company in a research report on Friday, May 30th. Barclays lowered their price objective on shares of Kinetik from $49.00 to $43.00 and set an "equal weight" rating for the company in a research report on Monday, July 14th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of Kinetik in a research report on Monday, September 8th. Six equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $54.67.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.