Kinetik Holdings Inc. (NASDAQ:KNTK) Holdings Lifted by Principle Wealth Partners LLC

Principle Wealth Partners LLC boosted its position in shares of Kinetik Holdings Inc. (NASDAQ:KNTK) by 16.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,202 shares of the company’s stock after buying an additional 1,030 shares during the quarter. Principle Wealth Partners LLC’s holdings in Kinetik were worth $408,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Wealthstar Advisors LLC acquired a new position in shares of Kinetik in the 4th quarter valued at $718,000. Miller Howard Investments Inc. NY boosted its position in shares of Kinetik by 5.3% in the 4th quarter. Miller Howard Investments Inc. NY now owns 269,970 shares of the company’s stock valued at $15,310,000 after purchasing an additional 13,611 shares during the period. Round Rock Advisors LLC acquired a new position in shares of Kinetik in the 4th quarter valued at $303,000. Blue Trust Inc. boosted its position in shares of Kinetik by 18.1% in the 4th quarter. Blue Trust Inc. now owns 4,488 shares of the company’s stock valued at $255,000 after purchasing an additional 687 shares during the period. Finally, Fifth Third Bancorp acquired a new position in shares of Kinetik in the 4th quarter valued at $26,000. Institutional investors own 21.11% of the company’s stock.

Kinetik Price Performance

KNTK opened at $62.71 on Wednesday. Kinetik Holdings Inc. has a fifty-two week low of $31.98 and a fifty-two week high of $67.60. The business has a 50-day moving average of $60.33 and a 200-day moving average of $52.49. The company has a market capitalization of $9.88 billion, a PE ratio of 23.14, a price-to-earnings-growth ratio of 1.60 and a beta of 2.89.

Kinetik Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.98%. The ex-dividend date of this dividend is Monday, February 3rd. Kinetik’s dividend payout ratio (DPR) is presently 115.13%.

Analysts Set New Price Targets

KNTK has been the subject of a number of recent analyst reports. Scotiabank decreased their price target on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating for the company in a research report on Tuesday, January 21st. Citigroup increased their price objective on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th. The Goldman Sachs Group increased their price objective on Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company increased their price objective on Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Finally, Mizuho increased their price objective on Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $59.25.

Kinetik Company 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.