Barclays Increases Kinetik (NASDAQ:KNTK) Price Target to $47.00

Kinetik (NASDAQ:KNTK) had its price objective upped by Barclays from $43.00 to $47.00 in a report issued on Monday, Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities research analysts have also issued reports on KNTK. Scotiabank raised their price target on shares of Kinetik from $42.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 2nd. Royal Bank of Canada boosted their price target on Kinetik from $43.00 to $46.00 and gave the company an “outperform” rating in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Kinetik presently has an average rating of “Moderate Buy” and a consensus price target of $43.86.

Kinetik Trading Up 1.4 %

NASDAQ KNTK opened at $49.76 on Monday. The firm has a market cap of $7.65 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.60 and a beta of 2.91. Kinetik has a 1-year low of $31.73 and a 1-year high of $50.21. The stock has a 50-day moving average of $45.05 and a 200-day moving average of $42.08.

Kinetik (NASDAQ:KNTK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Kinetik had a negative return on equity of 48.16% and a net margin of 30.96%. The firm had revenue of $359.50 million during the quarter, compared to analyst estimates of $305.94 million. During the same quarter in the prior year, the firm posted $0.41 earnings per share. The business’s quarterly revenue was up 21.4% compared to the same quarter last year. As a group, equities research analysts forecast that Kinetik will post 1.39 earnings per share for the current fiscal year.

Institutional Trading of Kinetik

Several large investors have recently bought and sold shares of KNTK. Creative Planning raised its position in shares of Kinetik by 70.4% in the 3rd quarter. Creative Planning now owns 26,132 shares of the company’s stock worth $1,183,000 after acquiring an additional 10,792 shares in the last quarter. Gilman Hill Asset Management LLC grew its stake in Kinetik by 551.6% in the third quarter. Gilman Hill Asset Management LLC now owns 244,524 shares of the company’s stock worth $11,067,000 after purchasing an additional 206,999 shares during the period. Exchange Traded Concepts LLC raised its holdings in Kinetik by 19.3% in the third quarter. Exchange Traded Concepts LLC now owns 80,491 shares of the company’s stock worth $3,643,000 after purchasing an additional 13,011 shares in the last quarter. CWM LLC lifted its position in Kinetik by 2,030.9% during the third quarter. CWM LLC now owns 3,793 shares of the company’s stock valued at $172,000 after buying an additional 3,615 shares during the period. Finally, SL Advisors LLC boosted its holdings in shares of Kinetik by 5.0% during the 3rd quarter. SL Advisors LLC now owns 21,927 shares of the company’s stock valued at $992,000 after buying an additional 1,037 shares in the last quarter. 21.11% of the stock is owned by institutional investors.

About Kinetik

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.