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Zimmer Partners, LP initiated a new position: 2,735,400 shares added; estimated trade value $98.61 million (based on quarterly average price) Quarter-end position value rose by $98.61 million, reflecting both share purchases and price movement Transaction represented approximately 2.6% of 13F reportable AUM Post-trade stake: 2,735,400 shares valued at $98.61 million Kinetik position comprises approximately 2.6% of fund AUM, which places it outside the fund's top five holdings

Kinetik Holdings (KNTK) faces delayed growth, with 2026 EBITDA guidance now 20% below prior expectations, raising questions about management credibility. KNTK's valuation remains discounted at 11.3x EBITDA versus C-Corp peers, while its Delaware basin and sour gas assets retain strategic appeal. Operational setbacks—King's Landing startup delays and Waha price-driven shut-ins—should resolve by 2027, positioning KNTK for a potential 20% EBITDA rebound.

Brave Warrior Advisors sold 1,608,928 shares of Kinetik Holdings in the fourth quarter, exiting its stake in the energy firm. The quarter-end position value declined by $68.77 million as a result.

Twenty-nine midstream energy companies were evaluated on a relative favorability matrix with factors representing yield, yield coverage, valuation, profitability, growth, and leverage. Based on this analysis, UGP, HESM, and USAC are the most favorable prospects in the midstream industry. I recommend investors who own TRP, GEL, or DKL carefully review their position, as these midstreams compare unfavorably to peers.

Kinetik Holdings Inc. (KNTK) Q4 2025 Earnings Call Transcript

Kinetik reported strong profits but weak sales in Q4 2025. Management forecasts decreased capital investment, implying more free cash flow in 2026.

HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)--Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter ended December 31, 2025. Kinetik reported net income including noncontrolling interest of $416.7 million and $525.9 million for the three and twelve months ended December 31, 2025, respectively. Kinetik generated Adjusted EBITDA1 of $252.1 million and $987.7 million, Distributable Cash Flow1 of $151.7 million and $620.5 million, and Free Cas.