Kinetik Holdings Inc. (NASDAQ:KNTK) Receives $45.71 Average Target Price from Brokerages

Kinetik Holdings Inc. (NASDAQ:KNTK) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $49.00.

KNTK has been the subject of several research reports. Barclays increased their target price on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Citigroup increased their price objective on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Monday. Mizuho upped their target price on shares of Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Finally, 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.

Kinetik Stock Down 0.6 %

Shares of NASDAQ KNTK opened at $56.45 on Friday. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.83 and a beta of 2.95. The firm’s fifty day moving average is $54.34 and its 200 day moving average is $46.88. Kinetik has a 52 week low of $31.73 and a 52 week high of $62.55.

Kinetik (NASDAQ:KNTK) last announced its quarterly 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). Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business had revenue of $396.40 million for the quarter, compared to analysts’ expectations of $331.21 million. During the same quarter in the prior year, the firm earned $0.21 EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. Equities research analysts anticipate that Kinetik will post 1.35 earnings per share for the current year.

Kinetik Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Shareholders of record on Monday, October 28th were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date of this dividend was Monday, October 28th. This is an increase from Kinetik’s previous quarterly dividend of $0.75. Kinetik’s payout ratio is 115.13%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Ashton Thomas Securities LLC purchased a new position in shares of Kinetik during the 3rd quarter worth $46,000. Blue Trust Inc. grew its stake in shares of Kinetik by 244.9% during the 3rd quarter. Blue Trust Inc. now owns 3,801 shares of the company’s stock valued at $158,000 after acquiring an additional 2,699 shares during the period. CWM LLC increased its holdings in Kinetik by 2,030.9% in the 3rd quarter. CWM LLC now owns 3,793 shares of the company’s stock worth $172,000 after acquiring an additional 3,615 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Kinetik during the 2nd quarter worth approximately $187,000. Finally, Covestor Ltd lifted its holdings in Kinetik by 13,790.0% during the third quarter. Covestor Ltd now owns 4,167 shares of the company’s stock valued at $189,000 after purchasing an additional 4,137 shares in the last quarter. 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.