Kinetik Holdings Inc. (NASDAQ:KNTK) Shares Bought by Eos Management L.P.

Eos Management L.P. boosted its stake in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 84.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,000 shares of the company’s stock after buying an additional 12,400 shares during the quarter. Eos Management L.P.’s holdings in Kinetik were worth $1,222,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blackstone Inc. raised its holdings in shares of Kinetik by 13.8% in the 1st quarter. Blackstone Inc. now owns 11,913,154 shares of the company’s stock valued at $474,977,000 after buying an additional 1,442,653 shares during the period. Vanguard Group Inc. increased its stake in Kinetik by 52.0% during the first quarter. Vanguard Group Inc. now owns 3,314,713 shares of the company’s stock worth $132,158,000 after purchasing an additional 1,134,570 shares during the period. Westwood Holdings Group Inc. lifted its position in shares of Kinetik by 148.3% during the first quarter. Westwood Holdings Group Inc. now owns 2,348,540 shares of the company’s stock worth $93,636,000 after purchasing an additional 1,402,751 shares in the last quarter. Yaupon Capital Management LP acquired a new stake in shares of Kinetik during the first quarter worth about $30,867,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Kinetik by 88.3% in the second quarter. Renaissance Technologies LLC now owns 633,962 shares of the company’s stock valued at $26,271,000 after purchasing an additional 297,200 shares during the period. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Kinetik Trading Up 2.7 %

Shares of NASDAQ:KNTK opened at $57.96 on Friday. Kinetik Holdings Inc. has a 52 week low of $31.73 and a 52 week high of $57.97. The company’s 50 day moving average is $47.77 and its two-hundred day moving average is $43.46. The company has a market cap of $9.13 billion, a PE ratio of 21.39, a P/E/G ratio of 2.47 and a beta of 2.91.

Kinetik (NASDAQ:KNTK) last posted its earnings results on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.17). The business had revenue of $396.40 million during the quarter, compared to analysts’ expectations of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 48.41%. The business’s quarterly revenue was up 20.0% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. As a group, equities research analysts expect that Kinetik Holdings Inc. will post 1.44 EPS for the current year.

Kinetik Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were given a dividend of $0.78 per share. This represents a $3.12 annualized dividend and a dividend yield of 5.38%. The ex-dividend date was Monday, October 28th. This is a positive change from Kinetik’s previous quarterly dividend of $0.75. Kinetik’s dividend payout ratio (DPR) is 115.13%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Barclays upped their target price on shares of Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Royal Bank of Canada upped their price objective on Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Mizuho lifted their target price on Kinetik from $47.00 to $55.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $45.71.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.