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

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

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

Kinetik Stock Performance

Shares of KNTK opened at $59.26 on Tuesday. Kinetik has a 52-week low of $31.73 and a 52-week high of $59.33. The stock has a fifty day moving average price of $49.36 and a two-hundred day moving average price of $44.27. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 21.87, a PEG ratio of 2.68 and a beta of 2.91.

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

Kinetik Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were given a $0.78 dividend. This is a positive change from Kinetik’s previous quarterly dividend of $0.75. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.26%. The ex-dividend date of this dividend was Monday, October 28th. Kinetik’s dividend payout ratio (DPR) is 115.13%.

Institutional Trading of Kinetik

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blackstone Inc. raised its position in Kinetik by 13.8% during the 1st quarter. Blackstone Inc. now owns 11,913,154 shares of the company’s stock valued at $474,977,000 after purchasing an additional 1,442,653 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Kinetik by 52.0% in the 1st quarter. Vanguard Group Inc. now owns 3,314,713 shares of the company’s stock worth $132,158,000 after acquiring an additional 1,134,570 shares in the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Kinetik by 148.3% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,348,540 shares of the company’s stock valued at $93,636,000 after purchasing an additional 1,402,751 shares during the period. Geode Capital Management LLC boosted its position in shares of Kinetik by 1.6% during the third quarter. Geode Capital Management LLC now owns 877,887 shares of the company’s stock valued at $39,742,000 after purchasing an additional 13,644 shares in the last quarter. Finally, Yaupon Capital Management LP purchased a new stake in Kinetik in the first quarter worth $30,867,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

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.