On Jan. 27, Cushing Asset Management, LP dba NXG Investment Management disclosed a buy of 855,000 shares of Kinetik Holdings (NYSE:KNTK). Added 855,000 shares of Kinetik Holdings Quarter-end position value increased by $24.2 million, reflecting both share purchases and price movement Post-trade stake: 1.8 million shares valued at $66.5 million as of quarter-end The position now accounts for 3.8% of the fund’s AUM. A buy alert What happened According to a SEC filing dated Jan. 27, Cushing Asset ...

Core Viewpoint - Western Midstream Partners, LP announced a quarterly cash distribution of $0.910 per unit for Q4 2025, maintaining the same level as the previous quarter [1] Group 1: Financial Announcements - The fourth-quarter distribution is payable on February 13, 2026, to unitholders of record as of February 2, 2026 [1] - The Partnership plans to report its Q4 2025 results after market close on February 18, 2026, with a conference call scheduled for February 19, 2026, at 9:00 a.m. Central [2][3] Group 2: Company Overview - Western Midstream Partners, LP is a master limited partnership focused on developing, acquiring, owning, and operating midstream assets across Texas, New Mexico, Colorado, Utah, and Wyoming [4] - The company engages in various activities including gathering, compressing, treating, processing, and transporting natural gas, as well as handling condensate, natural-gas liquids, and crude oil [4] - A significant portion of WES's cash flows is secured through fee-based contracts, reducing direct exposure to commodity price volatility [4]

Company Overview - Kinetik Holdings Inc. is a midstream energy company focused on providing essential infrastructure for the movement and processing of hydrocarbons in the Texas Delaware Basin [5] - The company offers gathering, transportation, compression, processing, and treating services for natural gas, natural gas liquids, crude oil, and water [7] - Kinetik's revenue for the trailing twelve months (TTM) is $1.7 billion, with a net income of $125.5 million and a dividend yield of 8.5% [4] Recent Developments - Brave Warrior Advisors disclosed a new position in Kinetik Holdings, acquiring 1.6 million shares valued at approximately $68.8 million as of September 30 [2][3] - This new position represents 1.6% of Brave Warrior's 13F reportable assets under management [3] Financial Performance - Kinetik reported third-quarter adjusted EBITDA of $242.6 million and distributable cash flow of $158.5 million, with free cash flow reaching $50.9 million despite increased capital spending [8] - The company has maintained full-year EBITDA guidance close to $1 billion, indicating potential for multi-year volume growth [9] Market Position - Kinetik's shares are currently priced at $37.14, reflecting a 34% decline over the past year, contrasting with the S&P 500's 13% increase during the same period [3] - The company is facing challenges such as volatility in Permian gas markets and lower producer activity, but continues to generate stable cash flow and expand processing capacity [6]

Core Insights - Kinetik Holdings Inc. (NYSE:KNTK) experienced a significant share price decline of 10.66% from November 3 to November 10, 2025, ranking among the energy stocks that lost the most during that week [1] Financial Performance - The company reported mixed results for Q3 on November 5, with an EPS of $0.03, which fell short of expectations by $0.27, primarily due to increased costs of goods sold and operating expenses [3] - Kinetik's revenue for the quarter was $463.9 million, exceeding estimates by over $33 million and reflecting a year-over-year increase of 17.1% [3] - The company has lowered its adjusted EBITDA guidance by 5% for 2025 and 2% for 2026 [3] Analyst Ratings - Following the Q3 report, Clear Street analyst Tim Moore reduced the price target for Kinetik Holdings from $60 to $55 while maintaining a 'Buy' rating, indicating recognition of operational challenges and delays in the King's Landing project [4]

Core Insights - Antero Midstream Corporation reported strong operational performance in Q3 2025, with a 5% year-over-year growth in gathering and compression volumes and a 30% increase in fresh water delivery volumes [3][6][10] - The company achieved significant Free Cash Flow growth, nearly doubling from the previous year, allowing for debt reduction and share repurchases [3][4][6] - Antero Midstream's credit rating improved, enabling refinancing of near-term debt maturities out to 2033 at favorable rates [3][6] Financial Performance - Net Income for Q3 2025 was $116 million, or $0.24 per diluted share, reflecting a 14% increase per share compared to the prior year [6][14] - Adjusted Net Income was $130 million, or $0.27 per diluted share, a 17% increase per share year-over-year [6][15] - Adjusted EBITDA reached $281 million, a 10% increase from the previous year [6][16] - Free Cash Flow after dividends was $78 million, a 94% increase compared to the prior year [6][16] Operational Highlights - The company connected 16 wells to its gathering system and serviced 17 wells with its fresh water delivery system during Q3 2025 [5] - Capital expenditures totaled $51 million, a 9% decrease from the prior year, with investments focused on gathering, compression, and water infrastructure [5][16] - Low pressure gathering volumes averaged 3,432 MMcf/d, a 5% increase year-over-year, while compression volumes averaged 3,421 MMcf/d, also a 5% increase [10][11] Share Repurchase and Debt Management - Antero Midstream repurchased 2.3 million shares for $41 million during Q3 2025, with approximately $385 million remaining under its $500 million share repurchase program [4][6] - The company reduced its total debt to $3.03 billion as of September 30, 2025, down from $3.19 billion the previous year [26][29] Strategic Initiatives - The company is focusing on additional well connections and fresh water delivery for its 2026 development plan, including a new dry gas pad in the Marcellus Shale [8][9] - Antero Resources, a key partner, completed approximately $260 million in acquisitions in the Marcellus Shale, enhancing Antero Midstream's operational capacity [9]

Core Points - Antero Midstream Corporation declared a cash dividend of $0.225 per share for the third quarter of 2025, amounting to an annualized dividend of $0.90 per share [2] - The dividend will be payable on November 5, 2025, to stockholders of record as of October 22, 2025, marking the 44th consecutive quarterly dividend since the company's IPO in November 2014 [2] - The company repurchased approximately 2.3 million shares for about $41.3 million during the third quarter of 2025, with $385 million remaining under its $500 million share repurchase program as of September 30, 2025 [2] - Antero Midstream plans to release its third quarter 2025 earnings on October 29, 2025, after the close of trading, followed by a conference call on October 30, 2025 [3] - The conference call will include a Q&A session for security analysts, and a replay will be available until November 6, 2025 [3] - Antero Midstream operates midstream gathering, compression, processing, and fractionation assets in the Appalachian Basin, along with integrated water assets servicing Antero Resources Corporation [4]

Group 1 - Antero Midstream Corporation declared a cash dividend of $0.225 per share for Q2 2025, amounting to an annualized rate of $0.90 per share [2] - The dividend will be payable on August 6, 2025, to stockholders of record as of July 23, 2025, marking the 43rd consecutive quarterly dividend since the company's IPO in November 2014 [2] - The company repurchased approximately 1.0 million shares for about $16.8 million during Q2 2025, with $426 million remaining under its $500 million share repurchase program as of June 30, 2025 [2] Group 2 - Antero Midstream plans to release its Q2 2025 earnings on July 30, 2025, after the close of trading on the New York Stock Exchange [3] - A conference call to discuss the financial and operational results is scheduled for July 31, 2025, at 10:00 am MT, with a Q&A session for analysts to follow [3] - The company provides access to the live webcast and related earnings conference call presentation on its website, with an archive available until August 7, 2025 [3] Group 3 - Antero Midstream Corporation operates midstream gathering, compression, processing, and fractionation assets in the Appalachian Basin, along with integrated water assets servicing Antero Resources Corporation's properties [4]