Kinetik Holdings Inc. (NYSE:KNTK) Given Average Recommendation of “Moderate Buy” by Brokerages

Kinetik Holdings Inc. (NYSE:KNTK) has been given a consensus recommendation of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $49.1667.

Several analysts have commented on the stock. Citigroup restated a “buy” rating and set a $52.00 target price (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. Truist Financial started coverage on shares of Kinetik in a report on Tuesday, March 24th. They issued a “buy” rating and a $53.00 price target for the company. Wells Fargo & Company upgraded shares of Kinetik from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $47.00 to $52.00 in a report on Wednesday, March 25th. Zacks Research raised shares of Kinetik from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Finally, Wall Street Zen lowered shares of Kinetik from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 17th.

Insider Activity at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the company’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $50.52, for a total transaction of $27,006,173.28. Following the completion of the transaction, the insider directly owned 428,894 shares of the company’s stock, valued at $21,667,724.88. This represents a 55.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 1,071,107 shares of company stock valued at $53,172,463 in the last 90 days. Insiders own 3.56% of the company’s stock.

Institutional Investors Weigh In On Kinetik

Several institutional investors have recently bought and sold shares of KNTK. Vanguard Group Inc. increased its position in shares of Kinetik by 9.4% during the 4th quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock worth $183,739,000 after purchasing an additional 439,586 shares during the last quarter. Miller Howard Investments Inc. NY boosted its holdings in shares of Kinetik by 69.4% in the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock valued at $7,083,000 after buying an additional 59,942 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Kinetik by 33.1% in the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock valued at $3,710,000 after buying an additional 25,574 shares in the last quarter. WESPAC Advisors LLC bought a new position in shares of Kinetik in the fourth quarter valued at $789,000. Finally, Crawford Investment Counsel Inc. increased its holdings in Kinetik by 10.2% during the third quarter. Crawford Investment Counsel Inc. now owns 309,175 shares of the company’s stock worth $13,214,000 after buying an additional 28,648 shares during the last quarter. Institutional investors own 21.11% of the company’s stock.

Kinetik Price Performance

Shares of Kinetik stock traded down $0.03 during trading hours on Friday, hitting $48.25. The company’s stock had a trading volume of 495,091 shares, compared to its average volume of 1,074,733. The company has a market capitalization of $7.83 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 2.49 and a beta of 0.56. The stock has a 50 day moving average of $48.01 and a 200 day moving average of $44.67. Kinetik has a 12 month low of $31.33 and a 12 month high of $51.51.

Kinetik (NYSE:KNTK) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.23). Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The business had revenue of $409.98 million for the quarter. During the same quarter in the previous year, the business earned $0.05 EPS. Kinetik’s quarterly revenue was down 7.5% compared to the same quarter last year. Equities analysts expect that Kinetik will post 0.62 EPS for the current year.

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.