Kinetik (NASDAQ:KNTK) Given New $55.00 Price Target at Mizuho

Kinetik (NASDAQ:KNTK) had its target price raised by stock analysts at Mizuho from $47.00 to $55.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective would suggest a potential upside of 10.80% from the stock’s current price.

KNTK has been the topic of several other research reports. Scotiabank lifted their target price on shares of Kinetik from $42.00 to $48.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, July 2nd. Barclays lifted their price objective on shares of Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Finally, Royal Bank of Canada raised their price target on shares of Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Kinetik presently has an average rating of “Moderate Buy” and an average target price of $45.71.

Kinetik Stock Performance

Shares of KNTK opened at $49.64 on Thursday. Kinetik has a 52 week low of $31.73 and a 52 week high of $51.97. The stock has a market capitalization of $7.82 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 2.38 and a beta of 2.91. The stock has a fifty day moving average of $46.26 and a 200-day moving average of $42.59.

Kinetik (NASDAQ:KNTK) last posted its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.43 by $0.11. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The company had revenue of $359.50 million during the quarter, compared to the consensus estimate of $305.94 million. During the same period in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 21.4% on a year-over-year basis. As a group, equities analysts forecast that Kinetik will post 1.44 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Inscription Capital LLC purchased a new stake in shares of Kinetik during the third quarter worth $214,000. Dakota Wealth Management bought a new stake in shares of Kinetik during the 3rd quarter valued at $891,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its holdings in Kinetik by 15.7% during the 3rd quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 398,136 shares of the company’s stock worth $18,020,000 after purchasing an additional 54,000 shares in the last quarter. Raymond James & Associates boosted its stake in Kinetik by 74.2% in the 3rd quarter. Raymond James & Associates now owns 108,334 shares of the company’s stock worth $4,903,000 after purchasing an additional 46,157 shares during the period. Finally, Blue Trust Inc. grew its holdings in Kinetik by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 3,801 shares of the company’s stock valued at $158,000 after buying an additional 2,699 shares in the last quarter. 21.11% of the stock is owned by institutional investors.

About Kinetik

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.