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

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have been given a consensus rating of “Moderate Buy” by the thirteen analysts that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have given a buy rating to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $45.8182.

KNTK has been the subject of several recent analyst reports. Raymond James Financial set a $46.00 price objective on shares of Kinetik in a research report on Monday, January 5th. Zacks Research downgraded shares of Kinetik from a “hold” rating to a “strong sell” rating in a research report on Monday, January 5th. Mizuho set a $48.00 target price on shares of Kinetik in a research report on Wednesday, October 29th. Citigroup dropped their price objective on shares of Kinetik from $55.00 to $46.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Finally, Royal Bank Of Canada decreased their target price on shares of Kinetik from $52.00 to $46.00 and set an “outperform” rating for the company in a research note on Wednesday, November 19th.

Insiders Place Their Bets

In other Kinetik news, insider Jamie Welch acquired 8,000 shares of the stock in a transaction on Monday, November 10th. The shares were bought at an average price of $34.57 per share, with a total value of $276,560.00. Following the acquisition, the insider owned 3,687,791 shares of the company’s stock, valued at $127,486,934.87. This trade represents a 0.22% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Wall sold 8,083 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $36.05, for a total transaction of $291,392.15. Following the transaction, the insider directly owned 554,738 shares in the company, valued at approximately $19,998,304.90. This trade represents a 1.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 3.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Kinetik

Institutional investors and hedge funds have recently modified their holdings of the business. Aster Capital Management DIFC Ltd purchased a new position in shares of Kinetik during the 3rd quarter worth approximately $54,000. Advisory Services Network LLC acquired a new stake in shares of Kinetik during the 3rd quarter worth $55,000. Chung Wu Investment Group LLC acquired a new position in shares of Kinetik in the 2nd quarter valued at about $56,000. GAMMA Investing LLC raised its stake in shares of Kinetik by 569.6% in the 4th quarter. GAMMA Investing LLC now owns 1,761 shares of the company’s stock valued at $63,000 after acquiring an additional 1,498 shares during the period. Finally, Fifth Third Bancorp lifted its holdings in shares of Kinetik by 269.2% during the 3rd quarter. Fifth Third Bancorp now owns 1,569 shares of the company’s stock valued at $67,000 after acquiring an additional 1,144 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Stock Performance

NYSE KNTK opened at $38.68 on Friday. The company has a market cap of $6.25 billion, a P/E ratio of 92.10, a P/E/G ratio of 0.71 and a beta of 0.73. The business has a fifty day moving average price of $35.28 and a 200 day moving average price of $38.96. Kinetik has a one year low of $31.33 and a one year high of $67.60.

Kinetik (NYSE:KNTK) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.03 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 analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS.

Kinetik Company Profile

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.