Susquehanna Fundamental Investments LLC Takes $755,000 Position in Kinetik Holdings Inc. (NASDAQ:KNTK)

Susquehanna Fundamental Investments LLC acquired a new position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) during the 1st quarter, Holdings Channel.com reports. The firm acquired 18,933 shares of the company’s stock, valued at approximately $755,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KNTK. Virtu Financial LLC bought a new stake in shares of Kinetik in the fourth quarter worth about $223,000. Arizona State Retirement System bought a new stake in Kinetik during the 4th quarter worth approximately $240,000. Graham Capital Management L.P. acquired a new stake in Kinetik during the 3rd quarter worth approximately $252,000. SG Americas Securities LLC lifted its stake in Kinetik by 19.1% in the fourth quarter. SG Americas Securities LLC now owns 8,638 shares of the company’s stock valued at $289,000 after buying an additional 1,383 shares in the last quarter. Finally, Mutual Advisors LLC acquired a new position in shares of Kinetik in the fourth quarter valued at approximately $301,000. 21.11% of the stock is currently owned by institutional investors.

Kinetik Stock Performance

KNTK traded up $0.38 during trading on Monday, reaching $43.21. 98,326 shares of the stock were exchanged, compared to its average volume of 519,367. The stock has a market cap of $6.64 billion, a P/E ratio of 17.55, a price-to-earnings-growth ratio of 2.65 and a beta of 2.96. The stock’s 50 day moving average price is $40.62 and its two-hundred day moving average price is $37.36. Kinetik Holdings Inc. has a twelve month low of $31.31 and a twelve month high of $43.40.

Kinetik (NASDAQ:KNTK) last issued its earnings results on Wednesday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.32). Kinetik had a net margin of 29.62% and a negative return on equity of 48.03%. The firm had revenue of $341.39 million during the quarter, compared to the consensus estimate of $277.52 million. During the same period in the previous year, the company posted ($0.06) earnings per share. The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. Equities research analysts predict that Kinetik Holdings Inc. will post 1.15 earnings per share for the current fiscal year.

Kinetik Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 9th. Stockholders of record on Monday, April 29th were paid a dividend of $0.75 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $3.00 annualized dividend and a dividend yield of 6.94%. Kinetik’s dividend payout ratio is currently 122.95%.

Analyst Ratings Changes

KNTK has been the topic of a number of research analyst reports. Mizuho raised their price objective on shares of Kinetik from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Scotiabank boosted their price target on Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 2nd. Royal Bank of Canada started coverage on Kinetik in a research report on Monday, March 25th. They issued an “outperform” rating and a $40.00 target price on the stock. Wells Fargo & Company upped their price target on Kinetik from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Finally, Barclays reiterated an “equal weight” rating and issued a $43.00 price objective on shares of Kinetik in a report on Wednesday, July 10th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Kinetik currently has an average rating of “Moderate Buy” and a consensus price target of $41.40.

Kinetik 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.