SageView Advisory Group LLC Makes New $1.61 Million Investment in Kinetik Holdings Inc. $KNTK

Key Points

• SageView Advisory Group LLC established a new stake in Kinetik in Q3, buying 37,580 shares worth approximately $1.61 million according to its latest 13F filing.
• Significant insider selling has occurred: ISQ Global Fund II GP sold 4,000,000 shares at an average of $44.85 (≈$179.4M), and insiders have sold 4,015,831 shares (~$180.05M) in the last 90 days, leaving insiders with about 3.83% ownership.
• Kinetik beat quarterly expectations with $2.16 EPS vs. $0.15 expected and revenue of $430.4M (up 11.5% y/y); the company has a market cap of $7.45B and a consensus analyst rating of Hold with a $45.82 target.

SageView Advisory Group LLC acquired a new position in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 37,580 shares of the company's stock, valued at approximately $1,606,000.

Other large investors have also recently bought and sold shares of the company. Federated Hermes Inc. lifted its stake in Kinetik by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company's stock valued at $3,926,000 after acquiring an additional 346 shares during the period. SL Advisors LLC increased its stake in shares of Kinetik by 1.7% during the third quarter. SL Advisors LLC now owns 22,306 shares of the company's stock worth $953,000 after purchasing an additional 379 shares in the last quarter. Apollon Wealth Management LLC lifted its stake in Kinetik by 6.9% in the 3rd quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company's stock valued at $256,000 after buying an additional 388 shares in the last quarter. AQR Capital Management LLC increased 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 in the last quarter. Finally, Rossby Financial LCC lifted its position in shares of Kinetik by 29.2% in the third quarter. Rossby Financial LCC now owns 2,592 shares of the company's stock valued at $106,000 after acquiring an additional 586 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company's stock.

Insider Transactions at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the business's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $44.85, for a total value of $179,400,000.00. Following the completion of the sale, the insider owned 1 shares in the company, valued at approximately $44.85. The trade was a 100.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Trevor Howard sold 1,619 shares of Kinetik stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $75,963.48. Following the completion of the transaction, the insider owned 249,795 shares in the company, valued at approximately $11,720,381.40. This represents a 0.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 4,015,831 shares of company stock worth $180,054,928. 3.83% of the stock is currently owned by corporate insiders.

Kinetik Price Performance

Shares of NYSE KNTK opened at $46.13 on Thursday. Kinetik Holdings Inc. has a 1 year low of $31.33 and a 1 year high of $54.94. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 17.95, a price-to-earnings-growth ratio of 1.10 and a beta of 0.70. The business has a 50-day moving average of $41.20 and a two-hundred day moving average of $39.18.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Scotiabank upped their price objective on shares of Kinetik from $48.00 to $49.00 and gave the company a "sector outperform" rating in a research note on Thursday, March 5th. Jefferies Financial Group lowered shares of Kinetik from a "buy" rating to a "hold" rating and set a $43.00 price objective on the stock. in a report on Friday, February 6th. Wall Street Zen cut shares of Kinetik from a "hold" rating to a "sell" rating in a research report on Sunday. Barclays lifted their price target on shares of Kinetik from $40.00 to $43.00 and gave the company an "equal weight" rating in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada increased their price objective on shares of Kinetik from $46.00 to $49.00 and gave the stock an "outperform" rating in a research report on Tuesday. Six analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Kinetik has a consensus rating of "Hold" and a consensus target price of $45.82.

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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