Brave Warrior Advisors LLC Invests $68.77 Million in Kinetik Holdings Inc. $KNTK

Brave Warrior Advisors LLC purchased a new stake in shares of Kinetik Holdings Inc. (NYSE:KNTK) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,608,928 shares of the company’s stock, valued at approximately $68,766,000. Kinetik makes up approximately 1.6% of Brave Warrior Advisors LLC’s portfolio, making the stock its 16th biggest position. Brave Warrior Advisors LLC owned about 1.00% of Kinetik as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of KNTK. Federated Hermes Inc. grew its position in Kinetik by 0.4% during the 2nd quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock valued at $3,926,000 after purchasing an additional 346 shares during the last quarter. SL Advisors LLC raised its holdings in Kinetik by 1.7% in the third quarter. SL Advisors LLC now owns 22,306 shares of the company’s stock worth $953,000 after buying an additional 379 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in shares of Kinetik by 6.9% in the third quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company’s stock worth $256,000 after buying an additional 388 shares in the last quarter. Aquatic Capital Management LLC grew its holdings in shares of Kinetik by 0.8% during the third quarter. Aquatic Capital Management LLC now owns 61,058 shares of the company’s stock valued at $2,610,000 after buying an additional 479 shares during the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Kinetik by 4.2% during the first quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock valued at $670,000 after buying an additional 522 shares during the last quarter. Institutional investors own 21.11% of the company’s stock.

Kinetik Price Performance

Shares of KNTK stock opened at $44.79 on Friday. Kinetik Holdings Inc. has a one year low of $31.33 and a one year high of $54.94. The company’s fifty day moving average price is $41.55 and its 200-day moving average price is $39.23. The company has a market capitalization of $7.24 billion, a price-to-earnings ratio of 17.43, a PEG ratio of 1.24 and a beta of 0.70.

Kinetik (NYSE:KNTK) last issued its earnings results on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $2.01. Kinetik had a net margin of 29.23% and a negative return on equity of 32.70%. The company had revenue of $430.42 million during the quarter. During the same period in the prior year, the company posted $0.01 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis.

Insiders Place Their Bets

In other news, insider Trevor Howard sold 1,619 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $75,963.48. Following the completion of the transaction, the insider owned 249,795 shares of the company’s stock, valued at $11,720,381.40. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Steven Stellato sold 2,907 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $136,396.44. Following the completion of the transaction, the insider directly owned 393,382 shares in the company, valued at approximately $18,457,483.44. This represents a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,015,831 shares of company stock valued at $180,054,928 over the last three months. Insiders own 3.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on KNTK. The Goldman Sachs Group decreased their price target on Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Scotiabank increased their price objective on shares of Kinetik from $48.00 to $49.00 and gave the stock a “sector outperform” rating in a research note on Thursday, March 5th. Royal Bank Of Canada upped their target price on shares of Kinetik from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Citigroup increased their price target on shares of Kinetik from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Finally, Barclays boosted their price objective on shares of Kinetik from $40.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Six research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.09.

Kinetik Company 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.