Catalyst Capital Advisors LLC Has $17.72 Million Stock Position in Kinetik Holdings Inc. $KNTK

Catalyst Capital Advisors LLC cut its position in Kinetik Holdings Inc. (NYSE:KNTK) by 8.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 366,076 shares of the company’s stock after selling 35,691 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Kinetik were worth $17,722,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC grew its position in shares of Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after purchasing an additional 352 shares during the last quarter. Signaturefd LLC boosted its stake in Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the period. Kestra Advisory Services LLC acquired a new stake in Kinetik in the 4th quarter valued at approximately $33,000. Los Angeles Capital Management LLC acquired a new stake in Kinetik in the 4th quarter valued at approximately $40,000. Finally, Huntington National Bank increased its position in Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after buying an additional 711 shares during the period. 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 534,564 shares of Kinetik 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 completion of the transaction, the insider directly owned 428,894 shares of the company’s stock, valued at approximately $21,667,724.88. This trade represents a 55.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold 1,071,107 shares of company stock worth $53,172,463 in the last three months. Corporate insiders own 3.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on KNTK. Barclays set a $50.00 price objective on shares of Kinetik and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. Scotiabank reiterated an “outperform” rating and set a $52.00 target price (up from $51.00) on shares of Kinetik in a research note on Tuesday, May 12th. Weiss Ratings upgraded shares of Kinetik from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 6th. Citigroup restated a “buy” rating and set a $52.00 price objective (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday. Two analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $49.77.

Kinetik Price Performance

Shares of KNTK stock opened at $50.20 on Friday. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $51.51. The stock has a market cap of $8.15 billion, a P/E ratio of 20.49, a price-to-earnings-growth ratio of 2.57 and a beta of 0.56. The stock has a fifty day moving average price of $48.11 and a 200 day moving average price of $45.17.

Kinetik (NYSE:KNTK) last issued its earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The business had revenue of $409.98 million for the quarter. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s quarterly revenue was down 7.5% compared to the same quarter last year. Equities research analysts anticipate that Kinetik Holdings Inc. will post 0.62 EPS for the current year.

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.