Neuberger Berman Investment Advis has recently announced that it has increased stake in Kinetik Holdings Inc. (NYSE:KNTK) by 9.92%. After grabbing 2.09 million shares, the institutional investor is now in possession of 0.19 million shares of the Energy Company. The new investment brought the stake of investor firm to 4.86% having worth around $69.22 million. Moreover, The Vanguard Group, Inc. increased its share by 0.43 million to have a control over 1.53 million shares. And Aventail Capital Group LP raised its holdings to 0.18 million shares by acquiring 1.39 million shares or 3.23% of the stake.
Kinetik Holdings Inc. (KNTK) concluded trading on 01/18/23 at a closing price of $31.19, with 0.32 million shares of worth about $9.88 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -15.31% during that period and on Wednesday the price saw a loss of about -5.43%. Currently the company’s common shares owned by public are about 41.82M shares, out of which, 18.85M shares are available for trading.
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According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 52 times over the past 12 months. They bought 1,986,081 shares in 40 of the transactions. In 12 selling transactions, insiders dumped 4,036,372 shares.
Kayne Anderson MLP/Midstream Inve, Vanguard Total Stock Market Index, and Neuberger Berman MLP & Energy Inc are the top 3 mutual funds which are holding stakes in Kinetik Holdings Inc. Kayne Anderson MLP/Midstream Inve is currently holding 0.55 million shares of worth totaling $18.05 million. The company recently came selling 54400.0 shares which brought its stake up to 1.27% of the company’s outstanding shares. Neuberger Berman MLP & Energy Inc, after selling 0.45 million shares, have now control over 1.05% of the stake in the company. It holds 49096.0 shares of worth $14.89 million.
However, the stock later moved at a day high price of 33.02, or with a loss of -5.43%. Stock saw a price change of -0.42% in past 5 days and over the past one month there was a price change of -4.79%. Year-to-date (YTD), KNTK shares are showing a performance of -5.71% which decreased to -3.69% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $29.05 but also hit the highest price of $44.99 during that period. The average intraday trading volume for Kinetik Holdings Inc. shares is 214.60K. The stock is currently trading -3.05% below its 20-day simple moving average (SMA20), while that difference is down -5.73% for SMA50 and it goes to -12.82% lower than SMA200.
Neuberger Berman Investment Advis acquired 2.09 million shares of Kinetik Holdings Inc. having value of about $69.22 million. Data submitted at the U.S SEC by Neuberger Berman Investment Advis revealed that the firm now holds 0.19 million shares in the company valued at close to $5892040.52, or have control over 9.92% stake in the company. Kinetik Holdings Inc. (NYSE: KNTK) currently have 41.82M outstanding shares and institutions hold larger chunk of about 36.40% of that. Holding of mutual funds in the company is about 15.57% while other institutional holders and individual stake holders have control over 43.04% and 15.35% of the stake respectively.
The stock has a current market capitalization of $4.23B and its 3Y-monthly beta is at 2.69. It has posted earnings per share of -$3.52 in the same period. It has Quick Ratio of 1.10. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for KNTK, volatility over the week remained 3.24% while standing at 3.32% over the month.
Analysts are in expectations that Kinetik Holdings Inc. (KNTK) stock would likely to be making an EPS of $0.62 in the current quarter, while forecast for next quarter EPS is $0.7 and it is $2.68 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.44 which is $0.79 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.04 in the same quarter a year ago. Stock’s fiscal year EPS is expected to drop by -67.00% while it is estimated to increase by 55.03% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by JP Morgan on October 07, 2022 offering a Neutral rating for the stock and assigned a target price of $42 to it. Coverage by Goldman stated Kinetik Holdings Inc. (KNTK) stock as a Neutral in their note to investors on October 07, 2022, suggesting a price target of $37 for the stock. On August 25, 2022, Morgan Stanley Initiated their recommendations, while on April 28, 2022, BofA Securities Initiated their ratings for the stock with a price target of $80. Stock get a Buy rating from Mizuho on April 19, 2022.
