Kinetik Holdings Inc. $KNTK Stock Holdings Lifted by Tiptree Advisors LLC

Tiptree Advisors LLC increased its stake in Kinetik Holdings Inc. (NYSE:KNTK - Free Report) by 26.3% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 120,000 shares of the company's stock after acquiring an additional 25,000 shares during the quarter. Kinetik makes up about 5.1% of Tiptree Advisors LLC's portfolio, making the stock its 7th biggest holding. Tiptree Advisors LLC owned 0.08% of Kinetik worth $6,233,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Comerica Bank grew its position in shares of Kinetik by 32.2% in the fourth quarter. Comerica Bank now owns 800 shares of the company's stock valued at $45,000 after purchasing an additional 195 shares during the period. Nisa Investment Advisors LLC lifted its stake in Kinetik by 141.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,133 shares of the company's stock valued at $59,000 after buying an additional 664 shares in the last quarter. Rossby Financial LCC acquired a new stake in Kinetik in the 1st quarter worth about $78,000. KBC Group NV purchased a new stake in Kinetik during the 1st quarter worth approximately $95,000. Finally, Covestor Ltd increased its stake in Kinetik by 4,129.6% during the 1st quarter. Covestor Ltd now owns 3,426 shares of the company's stock worth $178,000 after buying an additional 3,345 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KNTK. Barclays decreased their target price on Kinetik from $49.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, July 14th. Scotiabank restated an "outperform" rating and issued a $55.00 price objective on shares of Kinetik in a report on Thursday, August 14th. Wall Street Zen lowered shares of Kinetik from a "hold" rating to a "sell" rating in a report on Tuesday, June 17th. Zacks Research raised shares of Kinetik from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 13th. Finally, Citigroup restated a "buy" rating on shares of Kinetik in a research report on Tuesday, June 10th. Six equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $54.89.

Read Our Latest Analysis on Kinetik

Kinetik Stock Down 1.8%

Shares of NYSE:KNTK opened at $41.93 on Friday. Kinetik Holdings Inc. has a 52-week low of $39.25 and a 52-week high of $67.60. The stock has a market cap of $6.79 billion, a P/E ratio of 56.66 and a beta of 3.16. The business has a fifty day moving average of $41.86 and a two-hundred day moving average of $45.15.

Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.19. Kinetik had a net margin of 8.21% and a negative return on equity of 6.16%. During the same quarter in the previous year, the business posted $0.54 EPS. The business's quarterly revenue was up 18.7% on a year-over-year basis.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Friday, July 25th were paid a $0.78 dividend. The ex-dividend date of this dividend was Friday, July 25th. This represents a $3.12 annualized dividend and a dividend yield of 7.4%. Kinetik's dividend payout ratio is 421.62%.

Kinetik Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

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