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

Kinetik Holdings Inc. (NYSE:KNTK) has received a consensus recommendation of “Moderate Buy” from the fifteen brokerages that are presently covering the stock, Marketbeat reports. Six equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $49.1667.

A number of research firms have recently commented on KNTK. Citigroup restated a “buy” rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a research report on Tuesday, May 12th. Truist Financial began coverage on Kinetik in a research report on Tuesday, March 24th. They issued a “buy” rating and a $53.00 price objective for the company. US Capital Advisors upgraded Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Jefferies Financial Group restated a “hold” rating and issued a $51.00 price objective on shares of Kinetik in a research report on Friday, May 8th. Finally, Mizuho boosted their price objective on Kinetik from $48.00 to $51.00 and gave the company an “outperform” rating in a research report on Tuesday, April 28th.

Kinetik Trading Up 3.1%

Shares of NYSE:KNTK opened at $48.47 on Wednesday. Kinetik has a 12-month low of $31.33 and a 12-month high of $51.51. The company has a market capitalization of $7.87 billion, a PE ratio of 19.78, a PEG ratio of 2.43 and a beta of 0.57. The business has a 50 day moving average of $47.80 and a two-hundred day moving average of $43.59.

Kinetik (NYSE:KNTK) last announced its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The company had revenue of $409.98 million during the quarter. During the same period in the previous year, the firm earned $0.05 earnings per share. The company’s revenue for the quarter was down 7.5% compared to the same quarter last year. Equities research analysts predict that Kinetik will post 0.62 earnings per share for the current fiscal year.

Insider Activity at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the business’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total value of $27,006,173.28. Following the completion of the sale, the insider directly owned 428,894 shares in the company, valued at $21,667,724.88. The trade was a 55.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,071,107 shares of company stock valued at $53,172,463 in the last three months. 3.56% of the stock is owned by insiders.

Institutional Trading of Kinetik

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Sector Pension Investment Board purchased a new stake in Kinetik in the 3rd quarter valued at $7,277,000. Advisors Capital Management LLC grew its holdings in Kinetik by 4.3% in the 3rd quarter. Advisors Capital Management LLC now owns 632,387 shares of the company’s stock valued at $27,028,000 after buying an additional 26,103 shares in the last quarter. Vanguard Group Inc. grew its holdings in Kinetik by 9.4% in the 4th quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock valued at $183,739,000 after buying an additional 439,586 shares in the last quarter. SageView Advisory Group LLC purchased a new stake in Kinetik in the 3rd quarter valued at $1,606,000. Finally, HighTower Advisors LLC grew its holdings in Kinetik by 33.1% in the 4th quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock valued at $3,710,000 after buying an additional 25,574 shares in the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Kinetik Company Profile

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.