Kinetik (KNTK) Scheduled to Post Earnings on Wednesday

Kinetik (NASDAQ:KNTK) is set to release its earnings data after the market closes on Wednesday, May 8th. Analysts expect Kinetik to post earnings of $0.46 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Kinetik (NASDAQ:KNTK) last announced its earnings results on Wednesday, February 28th. The company reported $1.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $1.24. Kinetik had a negative return on equity of 49.32% and a net margin of 28.57%. The firm had revenue of $348.87 million during the quarter, compared to analysts’ expectations of $301.49 million. During the same quarter in the prior year, the business earned $0.25 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. On average, analysts expect Kinetik to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Kinetik Stock Down 0.1 %

NASDAQ:KNTK opened at $38.19 on Monday. The company’s 50 day moving average is $37.69 and its 200-day moving average is $35.42. The firm has a market cap of $5.87 billion, a price-to-earnings ratio of 16.90, a P/E/G ratio of 2.01 and a beta of 2.81. Kinetik has a 12 month low of $26.32 and a 12 month high of $40.42.

Kinetik Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be issued a $0.75 dividend. The ex-dividend date is Friday, April 26th. This represents a $3.00 annualized dividend and a yield of 7.86%. Kinetik’s dividend payout ratio (DPR) is presently 132.74%.

Analyst Upgrades and Downgrades

KNTK has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on Kinetik in a research note on Monday, March 25th. They issued an “outperform” rating and a $40.00 price objective on the stock. Mizuho upped their price target on Kinetik from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Barclays assumed coverage on Kinetik in a research report on Monday, April 22nd. They issued an “equal weight” rating and a $40.00 price objective for the company. Finally, JPMorgan Chase & Co. upped their target price on shares of Kinetik from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Six research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Kinetik has an average rating of “Moderate Buy” and a consensus price target of $40.00.

Insider Transactions at Kinetik

In related news, major shareholder Corp Apache sold 13,079,871 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $33.75, for a total value of $441,445,646.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder Corp Apache sold 13,079,871 shares of the business’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $33.75, for a total value of $441,445,646.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Matthew Wall sold 5,750 shares of the 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 transaction, the insider now owns 530,066 shares of the company’s stock, valued at $21,107,228.12. The disclosure for this sale can be found here. In the last three months, insiders sold 13,095,803 shares of company stock valued at $442,051,135. Company insiders own 3.71% of the company’s stock.

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.