Kinetik Holdings Inc. (NASDAQ:KNTK) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK) have been given a consensus rating of “Moderate Buy” by the eight ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $59.25.

Several brokerages recently commented on KNTK. Wells Fargo & Company increased their price objective on shares of Kinetik from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Royal Bank of Canada increased their target price on Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. The Goldman Sachs Group lifted their target price on shares of Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup upped their price target on shares of Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research report on Monday, December 16th. Finally, Scotiabank reduced their price objective on shares of Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, January 21st.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP purchased a new stake in Kinetik during the third quarter valued at about $543,000. Barclays PLC increased its holdings in Kinetik by 34.5% during the 3rd quarter. Barclays PLC now owns 234,286 shares of the company’s stock worth $10,603,000 after acquiring an additional 60,058 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of Kinetik in the third quarter worth $921,000. Eos Management L.P. increased its position in shares of Kinetik by 84.9% in the third quarter. Eos Management L.P. now owns 27,000 shares of the company’s stock worth $1,222,000 after purchasing an additional 12,400 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Kinetik by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 877,887 shares of the company’s stock worth $39,742,000 after buying an additional 13,644 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Stock Performance

Shares of KNTK stock opened at $64.44 on Friday. Kinetik has a fifty-two week low of $31.73 and a fifty-two week high of $67.60. The stock’s fifty day moving average price is $59.64 and its two-hundred day moving average price is $51.46. The company has a market cap of $10.15 billion, a PE ratio of 23.78, a P/E/G ratio of 1.68 and a beta of 2.91.

Kinetik (NASDAQ:KNTK) last released its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The business had revenue of $396.40 million during the quarter, compared to the consensus estimate of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business’s revenue was up 20.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.21 EPS. On average, equities analysts predict that Kinetik will post 1.96 EPS for the current fiscal year.

Kinetik Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Monday, February 3rd will be given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 4.84%. The ex-dividend date is Monday, February 3rd. Kinetik’s payout ratio is currently 115.13%.

Kinetik Company Profile

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.