Kinetik Holdings Inc. (NYSE:KNTK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have been given an average rating of “Moderate Buy” by the nineteen brokerages that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $53.2667.

A number of analysts recently issued reports on the company. Barclays set a $51.00 target price on Kinetik and gave the company an “equal weight” rating in a research report on Thursday, August 6th. Citigroup restated a “buy” rating and issued a $55.00 price target (up from $52.00) on shares of Kinetik in a research note on Tuesday, August 11th. Wells Fargo & Company reaffirmed an “overweight” rating and set a $54.00 price target on shares of Kinetik in a research report on Monday, August 10th. Raymond James Financial reiterated an “outperform” rating and set a $55.00 price objective on shares of Kinetik in a research note on Friday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th.

Insider Buying and Selling at Kinetik

In other Kinetik news, Director Deborah L. Byers sold 2,739 shares of the stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $51.51, for a total value of $141,085.89. Following the completion of the sale, the director owned 24,389 shares in the company, valued at $1,256,277.39. This trade represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Isq Global Fund Ii Gp Llc sold 76,260 shares of Kinetik stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $55.28, for a total transaction of $4,215,652.80. Following the completion of the transaction, the insider directly owned 842,564 shares of the company’s stock, valued at approximately $46,576,937.92. This trade represents a 8.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,089,069 shares of company stock worth $56,764,485 over the last ninety days. Insiders own 3.56% of the company’s stock.

Hedge Funds Weigh In On Kinetik

A number of institutional investors have recently bought and sold shares of KNTK. CWM LLC raised its stake in Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after buying an additional 352 shares during the period. Kestra Advisory Services LLC acquired a new stake in shares of Kinetik in the fourth quarter valued at approximately $33,000. Los Angeles Capital Management LLC bought a new position in shares of Kinetik during the 4th quarter worth approximately $40,000. Huntington National Bank boosted its stake in shares of Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after acquiring an additional 711 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. acquired a new position in shares of Kinetik during the 4th quarter worth approximately $47,000. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Trading Up 0.4%

Shares of KNTK opened at $54.02 on Monday. The stock has a market capitalization of $8.77 billion, a price-to-earnings ratio of 19.57, a PEG ratio of 1.33 and a beta of 0.56. Kinetik has a 12 month low of $31.33 and a 12 month high of $56.10. The firm has a fifty day simple moving average of $50.54 and a 200 day simple moving average of $48.03.

Kinetik (NYSE:KNTK) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The firm had revenue of $581.44 million for the quarter, compared to analyst estimates of $421.48 million. During the same period in the previous year, the business earned $0.33 EPS. The company’s revenue was up 36.3% compared to the same quarter last year. As a group, research analysts predict that Kinetik will post 1.3 earnings per share for the current fiscal year.

About Kinetik

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.