60,688 Shares in Kinetik Holdings Inc. $KNTK Bought by Brooklands Fund Management Ltd

Brooklands Fund Management Ltd acquired a new stake in shares of Kinetik Holdings Inc. (NYSE:KNTK) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 60,688 shares of the company’s stock, valued at approximately $2,880,000. Kinetik makes up about 3.2% of Brooklands Fund Management Ltd’s investment portfolio, making the stock its 12th largest holding.

Several other institutional investors have also modified their holdings of the stock. Comerica Bank lifted its stake in 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 buying an additional 732 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. Millennium Management LLC increased its stake 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 buying an additional 62,306 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kinetik by 27.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company’s stock worth $4,131,000 after buying an additional 17,034 shares in the last quarter. Finally, Intech Investment Management LLC raised its holdings in shares of Kinetik by 14.3% during the first 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 during the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Price Performance

KNTK opened at $51.55 on Friday. The firm has a market capitalization of $8.37 billion, a price-to-earnings ratio of 21.04, a price-to-earnings-growth ratio of 2.45 and a beta of 0.56. The company’s 50 day simple moving average is $48.26 and its two-hundred day simple moving average is $45.67. Kinetik Holdings Inc. has a 1-year low of $31.33 and a 1-year high of $52.54.

Kinetik (NYSE:KNTK) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The company had revenue of $409.98 million during the quarter. During the same period in the previous year, the business earned $0.05 EPS. Kinetik’s quarterly revenue was down 7.5% on a year-over-year basis. On average, equities analysts anticipate that Kinetik Holdings Inc. will post 0.68 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on Kinetik from $54.00 to $57.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 14th. Mizuho increased their price objective on Kinetik from $48.00 to $51.00 and gave the company an “outperform” rating in a research note on Tuesday, April 28th. Scotiabank restated an “outperform” rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. US Capital Advisors raised shares of Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research note on Friday, May 29th. Finally, Wall Street Zen lowered shares of Kinetik from a “sell” rating to a “strong sell” rating in a report on Sunday, May 17th. Two equities research analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Kinetik currently has an average rating of “Moderate Buy” and an average price target of $50.50.

Insiders Place Their Bets

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business’s stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total transaction of $27,006,173.28. Following the transaction, the insider owned 428,894 shares of the company’s stock, valued at approximately $21,667,724.88. The trade was a 55.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 910,907 shares of company stock worth $45,458,843 over the last quarter. Insiders own 3.56% of the company’s stock.

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.