Kinetik Holdings Inc. (NYSE:KNTK) Receives $47.25 Consensus Price Target from Brokerages
by Danessa Lincoln · The Markets DailyShares of Kinetik Holdings Inc. (NYSE:KNTK – Get Free Report) have received an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the stock, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation, seven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $47.25.
KNTK has been the subject of a number of research analyst reports. Truist Financial began coverage on shares of Kinetik in a research note on Tuesday, March 24th. They issued a “buy” rating and a $53.00 price target for the company. UBS Group lowered their price objective on shares of Kinetik from $49.00 to $48.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. Zacks Research raised Kinetik from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Citigroup increased their price target on Kinetik from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen upgraded Kinetik from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st.
Read Our Latest Research Report on KNTK
Insider Transactions at Kinetik
In other news, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $44.85, for a total transaction of $179,400,000.00. Following the completion of the transaction, the insider owned 1 shares in the company, valued at approximately $44.85. This trade represents a 100.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Steven Stellato sold 2,907 shares of Kinetik stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $136,396.44. Following the completion of the transaction, the insider directly owned 393,382 shares in the company, valued at $18,457,483.44. This represents a 0.73% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 4,007,748 shares of company stock worth $179,763,536. Corporate insiders own 3.83% of the company’s stock.
Institutional Trading of Kinetik
Several institutional investors and hedge funds have recently added to or reduced their stakes in KNTK. Vanguard Group Inc. increased its holdings in shares of Kinetik by 9.4% in the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock valued at $183,739,000 after buying an additional 439,586 shares in the last quarter. Zimmer Partners LP bought a new stake in shares of Kinetik during the 4th quarter worth $98,611,000. Cohen & Steers Inc. grew its holdings in shares of Kinetik by 82.5% in the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock worth $66,458,000 after acquiring an additional 833,224 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT raised its position in shares of Kinetik by 86.5% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock worth $66,455,000 after purchasing an additional 855,000 shares during the period. Finally, Invesco Ltd. raised its position in shares of Kinetik by 22.4% during the fourth quarter. Invesco Ltd. now owns 1,775,216 shares of the company’s stock worth $63,997,000 after purchasing an additional 325,251 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.
Kinetik Stock Performance
NYSE:KNTK opened at $46.67 on Friday. The stock has a market cap of $7.57 billion, a price-to-earnings ratio of 18.16, a PEG ratio of 1.58 and a beta of 0.66. Kinetik has a 1 year low of $31.33 and a 1 year high of $52.03. The business has a fifty day moving average of $44.30 and a 200-day moving average of $39.68.
Kinetik (NYSE:KNTK – Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $2.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $2.01. The business had revenue of $430.42 million during the quarter. Kinetik had a net margin of 29.23% and a negative return on equity of 32.70%. The business’s revenue for the quarter was up 11.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.01 EPS.
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.