Kinetik Holdings Inc. (NASDAQ:KNTK) Receives $45.71 Consensus Target Price from Analysts

Kinetik Holdings Inc. (NASDAQ:KNTK) has been assigned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $45.71.

Several brokerages have commented on KNTK. Barclays raised their target price on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Monday, October 14th. Mizuho raised their target price on shares of Kinetik from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada upped their price objective on Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th.

Kinetik Stock Up 2.8 %

Shares of NASDAQ:KNTK opened at $62.27 on Tuesday. The firm has a market capitalization of $9.81 billion, a PE ratio of 22.98, a P/E/G ratio of 2.79 and a beta of 2.91. The company has a 50-day moving average price of $50.41 and a two-hundred day moving average price of $44.66. Kinetik has a twelve month low of $31.73 and a twelve month high of $62.55.

Kinetik (NASDAQ:KNTK) last posted its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by ($0.10). The company had revenue of $396.40 million for the quarter, compared to analysts’ expectations of $331.21 million. Kinetik had a negative return on equity of 39.48% and a net margin of 30.25%. The company’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Analysts anticipate that Kinetik will post 1.46 earnings per share for the current fiscal year.

Kinetik Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.01%. The ex-dividend date was Monday, October 28th. This is a positive change from Kinetik’s previous quarterly dividend of $0.75. Kinetik’s dividend payout ratio is 115.13%.

Institutional Investors Weigh In On Kinetik

Institutional investors have recently added to or reduced their stakes in the company. Beach Investment Counsel Inc. PA bought a new position in Kinetik during the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC bought a new position in shares of Kinetik during the third quarter valued at approximately $46,000. Ameritas Investment Partners Inc. lifted its stake in Kinetik by 112.8% in the first quarter. Ameritas Investment Partners Inc. now owns 3,633 shares of the company’s stock worth $145,000 after acquiring an additional 1,926 shares during the period. CWM LLC lifted its stake in Kinetik by 2,030.9% in the third quarter. CWM LLC now owns 3,793 shares of the company’s stock worth $172,000 after acquiring an additional 3,615 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Kinetik by 244.9% in the third quarter. Blue Trust Inc. now owns 3,801 shares of the company’s stock valued at $158,000 after acquiring an additional 2,699 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

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.