Kinetik Holdings Inc. (NASDAQ:KNTK) Receives $42.00 Consensus PT from Analysts

by · The Cerbat Gem

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK – Get Free Report) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $42.43.

A number of equities analysts have recently commented on KNTK shares. Scotiabank boosted their price target on 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 target price on Kinetik from $43.00 to $46.00 and gave the stock an “outperform” rating in a research note on Thursday, August 15th. Finally, Barclays restated an “equal weight” rating and issued a $43.00 price target on shares of Kinetik in a research note on Wednesday, July 10th.

Check Out Our Latest Analysis on KNTK

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KNTK. Blackstone Inc. increased its stake in shares of Kinetik by 13.8% in the first quarter. Blackstone Inc. now owns 11,913,154 shares of the company’s stock valued at $474,977,000 after buying an additional 1,442,653 shares during the period. Vanguard Group Inc. increased its position in Kinetik by 52.0% during the 1st quarter. Vanguard Group Inc. now owns 3,314,713 shares of the company’s stock valued at $132,158,000 after purchasing an additional 1,134,570 shares during the period. Westwood Holdings Group Inc. raised its holdings in Kinetik by 148.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,348,540 shares of the company’s stock worth $93,636,000 after purchasing an additional 1,402,751 shares during the last quarter. Kayne Anderson Capital Advisors LP lifted its position in shares of Kinetik by 1,992.8% in the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,164,974 shares of the company’s stock worth $46,448,000 after purchasing an additional 1,109,308 shares during the period. Finally, Yaupon Capital Management LP bought a new stake in shares of Kinetik in the 1st quarter valued at $30,867,000. 21.11% of the stock is owned by institutional investors.

Kinetik Stock Up 1.7 %

KNTK stock opened at $48.46 on Monday. The company’s 50-day moving average price is $43.72 and its two-hundred day moving average price is $41.52. Kinetik has a 12 month low of $31.73 and a 12 month high of $48.49. The firm has a market cap of $7.45 billion, a P/E ratio of 19.86, a P/E/G ratio of 2.52 and a beta of 2.91.

Kinetik (NASDAQ:KNTK – Get Free Report) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The business had revenue of $359.50 million for the quarter, compared to analysts’ expectations of $305.94 million. During the same period last year, the firm posted $0.41 earnings per share. The firm’s quarterly revenue was up 21.4% compared to the same quarter last year. Equities analysts predict that Kinetik will post 1.39 EPS for the current year.

Kinetik Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Monday, July 29th were paid a $0.75 dividend. The ex-dividend date was Monday, July 29th. This represents a $3.00 annualized dividend and a dividend yield of 6.19%. Kinetik’s dividend payout ratio is 122.95%.

About Kinetik

(Get Free Report

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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