Kinetik Holdings Inc. (NYSE:KNTK) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Kinetik Holdings Inc. (NYSE:KNTK) has earned an average recommendation of “Moderate Buy” from the thirteen analysts that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $47.2727.

Several research analysts recently commented on the stock. Wall Street Zen lowered shares of Kinetik from a “hold” rating to a “sell” rating in a research note on Sunday, September 28th. Jefferies Financial Group began coverage on Kinetik in a report on Tuesday, December 2nd. They set a “buy” rating and a $41.00 price objective for the company. Citigroup lowered their price objective on Kinetik from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Royal Bank Of Canada reduced their target price on Kinetik from $52.00 to $46.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 19th. Finally, Wolfe Research reiterated an “outperform” rating and issued a $42.00 price target on shares of Kinetik in a research note on Friday, November 7th.

Insider Activity at Kinetik

In related news, insider Jamie Welch bought 8,000 shares of the stock in a transaction that occurred on Monday, November 10th. The stock was bought at an average cost of $34.57 per share, for a total transaction of $276,560.00. Following the purchase, the insider directly owned 3,687,791 shares of the company’s stock, valued at approximately $127,486,934.87. This trade represents a 0.22% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.83% of the stock is owned by insiders.

Institutional Investors Weigh In On Kinetik

Several institutional investors and hedge funds have recently made changes to their positions in KNTK. Bell Investment Advisors Inc purchased a new position in Kinetik during the first quarter valued at approximately $41,000. Aster Capital Management DIFC Ltd acquired a new stake in Kinetik during the third quarter valued at $54,000. Advisory Services Network LLC acquired a new stake in Kinetik during the third quarter valued at $55,000. Chung Wu Investment Group LLC purchased a new position in Kinetik in the second quarter valued at $56,000. Finally, Fifth Third Bancorp increased its holdings in Kinetik by 269.2% in the third quarter. Fifth Third Bancorp now owns 1,569 shares of the company’s stock valued at $67,000 after buying an additional 1,144 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Kinetik Price Performance

Shares of NYSE KNTK opened at $35.56 on Wednesday. Kinetik has a 1-year low of $31.33 and a 1-year high of $67.60. The business has a fifty day moving average price of $35.69 and a 200 day moving average price of $39.80. The stock has a market capitalization of $5.75 billion, a P/E ratio of 84.67, a price-to-earnings-growth ratio of 1.88 and a beta of 0.78.

Kinetik (NYSE:KNTK) last posted its earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.20). The company had revenue of $463.97 million during the quarter, compared to analysts’ expectations of $604.57 million. Kinetik had a net margin of 6.70% and a negative return on equity of 5.74%. Kinetik’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 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.