UBS Group AG Increases Stock Holdings in Kinetik Holdings Inc. $KNTK

Key Points

• UBS Group AG increased its Kinetik stake by 61.7% in the fourth quarter, bringing its holding to 754,056 shares valued at about $27.2 million. Several other institutional investors also added to or initiated positions in the stock.
• Analyst sentiment is mixed but generally constructive, with Kinetik carrying a “Moderate Buy” consensus and an average price target of $48.42. Recent changes included Wells Fargo upgrading the stock to overweight and Truist starting coverage with a buy rating.
• Kinetik reported weaker-than-expected quarterly results, posting EPS of -$0.07 versus an expected $0.16 and revenue of $409.98 million, down 7.5% year over year. The stock was also pressured by notable insider selling, including a 4 million-share sale by a major shareholder.

UBS Group AG boosted its position in shares of Kinetik Holdings Inc. (NYSE:KNTK - Free Report) by 61.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 754,056 shares of the company's stock after acquiring an additional 287,738 shares during the quarter. UBS Group AG owned 0.47% of Kinetik worth $27,184,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of KNTK. CWM LLC raised its position in Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company's stock valued at $27,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC raised its position in Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company's stock valued at $29,000 after purchasing an additional 404 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Kinetik in the 3rd quarter valued at about $54,000. Advisory Services Network LLC acquired a new stake in Kinetik in the 3rd quarter valued at about $55,000. Finally, GAMMA Investing LLC raised its position in Kinetik by 569.6% in the 4th quarter. GAMMA Investing LLC now owns 1,761 shares of the company's stock valued at $63,000 after purchasing an additional 1,498 shares in the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company raised Kinetik from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $47.00 to $52.00 in a research report on Wednesday, March 25th. Zacks Research raised Kinetik from a "strong sell" rating to a "hold" rating in a research report on Thursday, March 26th. Wall Street Zen lowered Kinetik from a "hold" rating to a "sell" rating in a research report on Saturday. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $50.00 price target (up from $49.00) on shares of Kinetik in a research report on Thursday, April 16th. Finally, Truist Financial assumed coverage on Kinetik in a research report on Tuesday, March 24th. They issued a "buy" rating and a $53.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Kinetik currently has a consensus rating of "Moderate Buy" and an average price target of $48.42.

Insider Transactions at Kinetik

In other Kinetik news, insider Trevor Howard sold 1,619 shares of Kinetik stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $75,963.48. Following the transaction, the insider owned 249,795 shares of the company's stock, valued at $11,720,381.40. The trade was a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik 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 transaction, the insider directly owned 1 shares in the company, valued at approximately $44.85. This trade represents a 100.00% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 5,078,855 shares of company stock worth $232,935,999. 3.56% of the stock is currently owned by corporate insiders.

Kinetik Stock Down 2.2%

KNTK opened at $47.41 on Friday. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 1.49 and a beta of 0.61. Kinetik Holdings Inc. has a 52 week low of $31.33 and a 52 week high of $51.11. The business's 50 day moving average is $46.84 and its two-hundred day moving average is $40.77.

Kinetik (NYSE:KNTK - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.23). The firm had revenue of $409.98 million for the quarter. Kinetik had a negative return on equity of 38.92% and a net margin of 28.58%.The firm's revenue for the quarter was down 7.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. Equities analysts expect that Kinetik Holdings Inc. will post 1.02 EPS for the current fiscal year.

About Kinetik

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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