Quaero Capital S.A. Acquires 12,400 Shares of Kinetik Holdings Inc. (NASDAQ:KNTK)

Quaero Capital S.A. raised its holdings in Kinetik Holdings Inc. (NASDAQ:KNTK) by 92.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 25,800 shares of the company’s stock after acquiring an additional 12,400 shares during the quarter. Kinetik comprises 1.9% of Quaero Capital S.A.’s portfolio, making the stock its 22nd largest position. Quaero Capital S.A.’s holdings in Kinetik were worth $1,463,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of KNTK. Harbor Capital Advisors Inc. boosted its position in shares of Kinetik by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock worth $515,000 after purchasing an additional 174 shares during the last quarter. GAMMA Investing LLC lifted its stake in Kinetik by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after buying an additional 213 shares during the period. Fifth Third Bancorp bought a new position in Kinetik during the fourth quarter worth about $26,000. Blue Trust Inc. grew its position in shares of Kinetik by 18.1% during the 4th quarter. Blue Trust Inc. now owns 4,488 shares of the company’s stock worth $255,000 after buying an additional 687 shares during the period. Finally, Exchange Traded Concepts LLC increased its stake in shares of Kinetik by 0.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 81,230 shares of the company’s stock valued at $4,607,000 after acquiring an additional 739 shares during the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Price Performance

KNTK stock opened at $61.30 on Friday. The stock has a market capitalization of $9.66 billion, a P/E ratio of 23.09, a P/E/G ratio of 1.60 and a beta of 2.89. Kinetik Holdings Inc. has a fifty-two week low of $32.22 and a fifty-two week high of $67.60. The business has a 50-day moving average of $60.53 and a 200-day moving average of $52.76.

Kinetik Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Monday, February 3rd. This represents a $3.12 annualized dividend and a dividend yield of 5.09%. Kinetik’s dividend payout ratio is currently 115.13%.

Analysts Set New Price Targets

Several research firms recently weighed in on KNTK. Wells Fargo & Company lifted their price objective on shares of Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price target on shares of Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Scotiabank dropped their price objective on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, January 21st. Citigroup boosted their target price on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Finally, The Goldman Sachs Group raised their price target on Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Three analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $59.25.

About Kinetik

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.