Fort Washington Investment Advisors Inc. OH Trims Stake in Kinetik Holdings Inc. $KNTK

Fort Washington Investment Advisors Inc. OH cut its holdings in Kinetik Holdings Inc. (NYSE:KNTK) by 53.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,697 shares of the company’s stock after selling 32,998 shares during the period. Fort Washington Investment Advisors Inc. OH’s holdings in Kinetik were worth $1,035,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KNTK. Aster Capital Management DIFC Ltd bought a new stake in shares of Kinetik during the 3rd quarter valued at $54,000. Advisory Services Network LLC bought a new position in Kinetik in the 3rd quarter worth $55,000. Comerica Bank raised its holdings in Kinetik by 91.5% in the 1st quarter. Comerica Bank now owns 1,532 shares of the company’s stock worth $80,000 after purchasing an additional 732 shares during the period. Fifth Third Bancorp lifted its position in Kinetik by 269.2% during the third quarter. Fifth Third Bancorp now owns 1,569 shares of the company’s stock valued at $67,000 after purchasing an additional 1,144 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Kinetik by 569.6% during the fourth quarter. GAMMA Investing LLC now owns 1,761 shares of the company’s stock valued at $63,000 after purchasing an additional 1,498 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Stock Performance

Shares of Kinetik stock opened at $48.64 on Friday. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $54.15. The company has a market capitalization of $7.89 billion, a P/E ratio of 18.93, a P/E/G ratio of 1.64 and a beta of 0.70. The company has a fifty day moving average of $43.49 and a 200 day moving average of $39.56.

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

Insiders Place Their Bets

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $44.85, for a total value of $179,400,000.00. Following the completion of the transaction, the insider directly owned 1 shares in the company, valued at $44.85. This represents a 100.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Trevor Howard sold 1,619 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $75,963.48. Following the sale, the insider directly owned 249,795 shares of the company’s stock, valued at approximately $11,720,381.40. This trade represents a 0.64% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 4,015,831 shares of company stock worth $180,054,928 over the last quarter. Company insiders own 3.83% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Jefferies Financial Group cut Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research report on Friday, February 6th. Raymond James Financial set a $46.00 price objective on Kinetik in a research report on Monday, January 5th. Royal Bank Of Canada boosted their price objective on Kinetik from $46.00 to $49.00 and gave the company an “outperform” rating in a research note on Tuesday, March 10th. Wall Street Zen raised shares of Kinetik from a “sell” rating to a “hold” rating in a report on Saturday, March 21st. Finally, Zacks Research upgraded shares of Kinetik from a “strong sell” rating to a “hold” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $47.25.

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.