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

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK) have been assigned an average rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $53.00.

Several brokerages have recently weighed in on KNTK. The Goldman Sachs Group increased their target price on shares of Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Royal Bank of Canada increased their price objective on Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Citigroup boosted their target price on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Monday, December 16th. Barclays increased their price target on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company boosted 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.

Institutional Investors Weigh In On Kinetik

A number of hedge funds and other institutional investors have recently modified their holdings of KNTK. GAMMA Investing LLC grew its stake in Kinetik by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares during the last quarter. Ashton Thomas Securities LLC purchased a new stake in shares of Kinetik in the third quarter valued at about $46,000. Blue Trust Inc. grew its position in shares of 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 purchasing an additional 2,699 shares during the last quarter. CWM LLC increased its stake in shares of Kinetik by 2,030.9% during the 3rd quarter. CWM LLC now owns 3,793 shares of the company’s stock worth $172,000 after purchasing an additional 3,615 shares in the last quarter. Finally, Point72 DIFC Ltd acquired a new position in shares of Kinetik during the 2nd quarter worth approximately $187,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Kinetik Stock Up 1.4 %

KNTK opened at $59.30 on Wednesday. The firm has a market cap of $9.34 billion, a price-to-earnings ratio of 21.88, a price-to-earnings-growth ratio of 2.85 and a beta of 2.91. Kinetik has a 52 week low of $31.73 and a 52 week high of $62.55. The business’s 50 day moving average is $56.75 and its two-hundred day moving average is $48.80.

Kinetik (NASDAQ:KNTK) last announced its earnings results on Wednesday, November 6th. The company reported $0.35 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 analyst estimates 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.21 earnings per share. Equities analysts expect that Kinetik will post 1.35 EPS for the current fiscal year.

Kinetik Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date was Monday, October 28th. This is an increase from Kinetik’s previous quarterly dividend of $0.75. Kinetik’s dividend payout ratio (DPR) 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.