Kinetik (NYSE:KNTK) Insider Sells $136,396.44 in Stock

Key Points

• Insider sale: Kinetik insider Steven Stellato sold 2,907 shares at an average of $46.92 on March 4 for $136,396.44, trimming his stake by 0.73% to 393,382 shares valued at about $18.46 million.
• Strong quarter but mixed metrics: Kinetik reported EPS of $2.16 (vs. $0.15 consensus) and revenue of $430.4M, up 11.5% YoY, yet shows a negative ROE (-32.7%); the stock trades near $45.57 with a $7.36B market cap and a consensus analyst rating of "Hold" (average target ~$45.55).

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) insider Steven Stellato sold 2,907 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $136,396.44. Following the completion of the sale, the insider owned 393,382 shares of the company's stock, valued at $18,457,483.44. This represents a 0.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Kinetik Trading Down 0.3%

NYSE KNTK traded down $0.16 during trading on Friday, hitting $45.57. 974,173 shares of the company traded hands, compared to its average volume of 1,479,206. Kinetik Holdings Inc. has a 12 month low of $31.33 and a 12 month high of $54.94. The business has a fifty day simple moving average of $40.62 and a 200 day simple moving average of $39.07. The company has a market capitalization of $7.36 billion, a P/E ratio of 17.73, a PEG ratio of 1.11 and a beta of 0.70.

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

Institutional Investors Weigh In On Kinetik

A number of institutional investors have recently bought and sold shares of KNTK. Comerica Bank lifted its holdings in shares of Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company's stock worth $80,000 after acquiring an additional 732 shares during the period. AQR Capital Management LLC grew its stake in Kinetik by 4.2% during the first 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 grew its position in Kinetik by 88.7% during the 1st quarter. Millennium Management LLC now owns 132,533 shares of the company's stock worth $6,884,000 after acquiring an additional 62,306 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of 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 in the last quarter. Finally, Intech Investment Management LLC increased its position in Kinetik by 14.3% in the 1st quarter. Intech Investment Management LLC now owns 22,114 shares of the company's stock valued at $1,149,000 after acquiring an additional 2,766 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company's stock.

Wall Street Analysts Forecast Growth

KNTK has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Kinetik from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Raymond James Financial set a $46.00 target price on Kinetik in a research note on Monday, January 5th. Wells Fargo & Company lifted their price target on Kinetik from $40.00 to $44.00 and gave the stock an "equal weight" rating in a research report on Friday, February 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Kinetik in a research report on Thursday, January 22nd. Finally, Zacks Research cut shares of Kinetik from a "hold" rating to a "strong sell" rating in a research note on Monday, January 5th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $45.55.

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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