Kinetik Holdings Inc. (NASDAQ:KNTK – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday after Royal Bank of Canada raised their price target on the stock from $46.00 to $52.00. Royal Bank of Canada currently has an outperform rating on the stock. Kinetik traded as high as $50.21 and last traded at $50.10, with a volume of 81227 shares trading hands. The stock had previously closed at $49.07.
Several other equities analysts have also commented on the company. Scotiabank upped their target price on Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 2nd. Barclays increased their price objective on Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Kinetik has an average rating of “Moderate Buy” and an average target price of $43.86.
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Kinetik Price Performance
The company has a fifty day moving average of $45.05 and a 200-day moving average of $42.08. The firm has a market capitalization 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 (NASDAQ:KNTK – Get Free Report) last posted its earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.43 by $0.11. The firm had revenue of $359.50 million for the quarter, compared to the consensus estimate of $305.94 million. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The business’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.41 earnings per share. Equities analysts anticipate that Kinetik Holdings Inc. will post 1.39 EPS for the current year.
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.
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