Kinetik Holdings Inc. $KNTK Shares Purchased by SG Americas Securities LLC

Key Points

• SG Americas Securities LLC boosted its stake in Kinetik by 641.4% in Q4, adding 123,260 shares to hold 142,476 shares (about 0.09% of the company) worth roughly $5.14M, while other institutions (Millennium, UBS, AQR, Comerica, Intech) also increased positions and institutional investors now own 21.11%.
• Kinetik reported a strong quarter with EPS of $2.16 versus a $0.15 consensus and revenue of $430.4M (up 11.5% YoY), yet the stock traded down about 5% and sits at a market cap near $7.46B.
• Large insider selling occurred: Isq Global Fund II GP LLC sold 4,000,000 shares at $44.85 for $179.4M, and insiders sold a total of 4,015,831 shares (~$180.05M) last quarter, leaving insiders with 3.83% ownership.

SG Americas Securities LLC boosted its stake in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) by 641.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 142,476 shares of the company's stock after acquiring an additional 123,260 shares during the period. SG Americas Securities LLC owned about 0.09% of Kinetik worth $5,136,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Comerica Bank lifted its holdings in shares of Kinetik by 91.5% in the 1st quarter. Comerica Bank now owns 1,532 shares of the company's stock valued at $80,000 after purchasing an additional 732 shares during the last quarter. AQR Capital Management LLC grew its stake in Kinetik by 4.2% during the 1st quarter. AQR Capital Management LLC now owns 12,900 shares of the company's stock worth $670,000 after buying an additional 522 shares during the last quarter. Millennium Management LLC increased its position in Kinetik by 88.7% during the first quarter. Millennium Management LLC now owns 132,533 shares of the company's stock worth $6,884,000 after buying an additional 62,306 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Kinetik by 27.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company's stock valued at $4,131,000 after buying an additional 17,034 shares during the last quarter. Finally, Intech Investment Management LLC lifted its stake in Kinetik by 14.3% in the first quarter. Intech Investment Management LLC now owns 22,114 shares of the company's stock valued at $1,149,000 after buying an additional 2,766 shares during the last quarter. Hedge funds and other institutional investors own 21.11% of the company's stock.

Kinetik Trading Down 5.0%

NYSE:KNTK opened at $46.01 on Thursday. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $54.15. The stock's 50 day simple moving average is $44.02 and its 200-day simple moving average is $39.65. The firm has a market cap of $7.46 billion, a P/E ratio of 17.90, a PEG ratio of 1.64 and a beta of 0.66.

Kinetik (NYSE:KNTK - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $2.01. The firm had revenue of $430.42 million during the quarter. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.Kinetik's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 earnings per share.

Insider Activity

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $44.85, for a total value of $179,400,000.00. Following the sale, the insider owned 1 shares of the company's stock, valued at $44.85. The trade was a 100.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Matthew Wall sold 3,222 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $151,176.24. Following the transaction, the insider owned 585,556 shares in the company, valued at approximately $27,474,287.52. This trade represents a 0.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 4,015,831 shares of company stock worth $180,054,928 over the last quarter. Insiders own 3.83% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KNTK shares. Weiss Ratings restated a "hold (c)" rating on shares of Kinetik in a research report on Thursday, January 22nd. Barclays upped their price target on shares of Kinetik from $43.00 to $44.00 and gave the company an "equal weight" rating in a research report on Thursday, March 19th. Raymond James Financial set a $46.00 price objective on shares of Kinetik in a research note on Monday, January 5th. UBS Group reduced their target price on shares of Kinetik from $49.00 to $48.00 and set a "neutral" rating for the company in a report on Monday, March 16th. Finally, Citigroup increased their target price on shares of Kinetik from $46.00 to $51.00 and gave the stock a "buy" rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.25.

Kinetik Profile

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.

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