Public Sector Pension Investment Board Acquires Shares of 170,251 Kinetik Holdings Inc. $KNTK

Public Sector Pension Investment Board bought a new stake in shares of Kinetik Holdings Inc. (NYSE:KNTK) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 170,251 shares of the company’s stock, valued at approximately $7,277,000. Public Sector Pension Investment Board owned about 0.11% of Kinetik as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Federated Hermes Inc. lifted its holdings in Kinetik by 0.4% during the second quarter. Federated Hermes Inc. now owns 89,133 shares of the company’s stock worth $3,926,000 after acquiring an additional 346 shares in the last quarter. SL Advisors LLC raised its position in shares of Kinetik by 1.7% during the third quarter. SL Advisors LLC now owns 22,306 shares of the company’s stock worth $953,000 after purchasing an additional 379 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of Kinetik by 6.9% during the 3rd quarter. Apollon Wealth Management LLC now owns 5,990 shares of the company’s stock valued at $256,000 after purchasing an additional 388 shares in the last quarter. Rossby Financial LCC grew its position in shares of Kinetik by 33.5% in the 2nd quarter. Rossby Financial LCC now owns 2,006 shares of the company’s stock valued at $88,000 after purchasing an additional 503 shares during the period. Finally, AQR Capital Management LLC increased its stake in Kinetik by 4.2% during the 1st quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock worth $670,000 after purchasing an additional 522 shares in the last quarter. 21.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kinetik

In other Kinetik news, insider Matthew Wall sold 8,083 shares of the business’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $36.05, for a total value of $291,392.15. Following the transaction, the insider directly owned 554,738 shares of the company’s stock, valued at approximately $19,998,304.90. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.83% of the stock is currently owned by corporate insiders.

Kinetik Price Performance

NYSE KNTK opened at $41.00 on Wednesday. The business has a fifty day moving average price of $38.03 and a two-hundred day moving average price of $38.67. The stock has a market capitalization of $6.63 billion, a PE ratio of 97.62, a PEG ratio of 1.01 and a beta of 0.73. Kinetik Holdings Inc. has a fifty-two week low of $31.33 and a fifty-two week high of $61.95.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on KNTK. The Goldman Sachs Group lowered their price objective on shares of Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Royal Bank Of Canada dropped their price target on Kinetik from $52.00 to $46.00 and set an “outperform” rating for the company in a report on Wednesday, November 19th. Zacks Research downgraded Kinetik from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Mizuho set a $48.00 price objective on shares of Kinetik in a report on Wednesday, October 29th. Finally, Raymond James Financial set a $46.00 price target on Kinetik in a research note on Monday, January 5th. Six research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $46.00.

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.