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

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK) have earned an average recommendation of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $49.00.

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a 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 report on Wednesday, October 16th. Citigroup boosted their price target on shares of Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Barclays raised their price objective on Kinetik from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Monday, October 14th.

Institutional Investors Weigh In On Kinetik

Several large investors have recently added to or reduced their stakes in KNTK. Ashton Thomas Securities LLC bought a new stake in shares of Kinetik in the 3rd quarter valued at approximately $46,000. Blue Trust Inc. raised its holdings in 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 buying an additional 2,699 shares during the period. CWM LLC lifted its position in Kinetik by 2,030.9% in the third quarter. CWM LLC now owns 3,793 shares of the company’s stock worth $172,000 after buying an additional 3,615 shares during the last quarter. Point72 DIFC Ltd purchased a new position in Kinetik during the second quarter worth $187,000. Finally, Covestor Ltd increased its position 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 acquiring an additional 4,137 shares during the last quarter. 21.11% of the stock is owned by institutional investors.

Kinetik Stock Down 0.6 %

Shares of Kinetik stock opened at $56.45 on Friday. The company has a market capitalization 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 stock’s 50-day simple moving average is $54.34 and its 200-day simple 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 issued its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $331.21 million. During the same period last year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 20.0% compared to the same quarter last year. On average, equities analysts expect that Kinetik will post 1.35 earnings per share for the current year.

Kinetik Increases Dividend

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

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.