Kinetik Holdings Inc. (NASDAQ:KNTK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK) have been assigned a consensus rating of “Moderate Buy” from the twelve ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $40.00.

Several research analysts have recently issued reports on the stock. Royal Bank of Canada began coverage on shares of Kinetik in a report on Monday, March 25th. They issued an “outperform” rating and a $40.00 target price on the stock. Barclays assumed coverage on Kinetik in a research note on Monday, April 22nd. They set an “equal weight” rating and a $40.00 target price on the stock. Mizuho raised their price target on Kinetik from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Kinetik from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th.

Insider Transactions at Kinetik

In other Kinetik news, insider Anne Psencik sold 3,182 shares of the firm’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $35.57, for a total transaction of $113,183.74. Following the completion of the sale, the insider now directly owns 247,128 shares in the company, valued at approximately $8,790,342.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Kinetik news, insider Anne Psencik sold 3,182 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $35.57, for a total transaction of $113,183.74. Following the sale, the insider now directly owns 247,128 shares in the company, valued at approximately $8,790,342.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Matthew Wall sold 5,750 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $39.82, for a total value of $228,965.00. Following the completion of the transaction, the insider now owns 530,066 shares of the company’s stock, valued at approximately $21,107,228.12. The disclosure for this sale can be found here. Insiders have sold a total of 13,095,803 shares of company stock valued at $442,051,135 in the last ninety days. 3.71% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Kinetik

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blackstone Inc. increased its position in Kinetik by 15.9% during the fourth quarter. Blackstone Inc. now owns 10,470,501 shares of the company’s stock valued at $349,715,000 after acquiring an additional 1,433,616 shares during the last quarter. Kayne Anderson Capital Advisors LP increased its position in shares of Kinetik by 1,992.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,164,974 shares of the company’s stock valued at $46,448,000 after purchasing an additional 1,109,308 shares during the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Kinetik in the 4th quarter worth approximately $31,589,000. Chickasaw Capital Management LLC boosted its holdings in shares of Kinetik by 217.0% in the fourth quarter. Chickasaw Capital Management LLC now owns 722,326 shares of the company’s stock worth $24,126,000 after buying an additional 494,453 shares during the last quarter. Finally, Cohen & Steers Inc. grew its position in shares of Kinetik by 97.5% during the 4th quarter. Cohen & Steers Inc. now owns 762,940 shares of the company’s stock valued at $25,482,000 after acquiring an additional 376,732 shares during the period. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Stock Performance

Shares of KNTK opened at $39.15 on Friday. Kinetik has a fifty-two week low of $28.82 and a fifty-two week high of $40.42. The firm has a market cap of $6.02 billion, a price-to-earnings ratio of 17.32, a PEG ratio of 2.00 and a beta of 2.81. The firm has a 50 day moving average price of $37.90 and a 200-day moving average price of $35.46.

Kinetik (NASDAQ:KNTK) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $0.46 by $1.24. The firm had revenue of $348.87 million for the quarter, compared to the consensus estimate of $301.49 million. Kinetik had a negative return on equity of 49.32% and a net margin of 28.57%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.25 earnings per share. As a group, equities research analysts predict that Kinetik will post 2.32 earnings per share for the current year.

Kinetik Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 7.66%. The ex-dividend date is Friday, April 26th. Kinetik’s dividend payout ratio is 132.74%.

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.