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

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have received a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the firm, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $47.25.

Several analysts have recently commented on KNTK shares. Jefferies Financial Group cut Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a report on Friday, February 6th. Zacks Research raised Kinetik from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Raymond James Financial set a $46.00 price target on shares of Kinetik in a research note on Monday, January 5th. Truist Financial initiated coverage on shares of Kinetik in a research note on Tuesday, March 24th. They issued a “buy” rating and a $53.00 price objective for the company. Finally, Citigroup upped their target price on shares of Kinetik from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd.

Kinetik Stock Performance

Shares of Kinetik stock opened at $46.67 on Friday. Kinetik has a one year low of $31.33 and a one year high of $52.03. The company has a market cap of $7.57 billion, a P/E ratio of 18.16, a PEG ratio of 1.55 and a beta of 0.66. The firm has a fifty day moving average of $44.16 and a two-hundred day moving average of $39.70.

Kinetik (NYSE:KNTK) last issued its quarterly earnings results on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $2.01. The business had revenue of $430.42 million for the quarter. Kinetik had a net margin of 29.23% and a negative return on equity of 32.70%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.01 earnings per share.

Insider Transactions at Kinetik

In other news, insider Trevor Howard sold 1,619 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $75,963.48. Following the completion of the transaction, the insider owned 249,795 shares in the company, valued at $11,720,381.40. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $44.85, for a total transaction of $179,400,000.00. Following the completion of the sale, the insider owned 1 shares in the company, valued at $44.85. This represents a 100.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 4,007,748 shares of company stock valued at $179,763,536. Company insiders own 3.83% of the company’s stock.

Institutional Trading of Kinetik

Several institutional investors and hedge funds have recently modified their holdings of KNTK. CWM LLC increased its stake in shares of Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after purchasing an additional 352 shares in the last quarter. Signaturefd LLC grew its holdings in Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after buying an additional 404 shares during the last quarter. Kestra Advisory Services LLC purchased a new position in Kinetik during the fourth quarter worth $33,000. Los Angeles Capital Management LLC acquired a new position in shares of Kinetik in the fourth quarter worth $40,000. Finally, Huntington National Bank lifted its position in shares of Kinetik by 139.1% in the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after acquiring an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

About Kinetik

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.