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

Kinetik Holdings Inc. (NYSE:KNTK) has been given an average recommendation of “Moderate Buy” by the fourteen ratings firms that are currently covering the company, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $47.25.

Several equities analysts have issued reports on the stock. Wolfe Research downgraded shares of Kinetik from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. Jefferies Financial Group cut Kinetik from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a research report on Friday, February 6th. Citigroup boosted their target price on Kinetik from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Wall Street Zen raised Kinetik from a “sell” rating to a “hold” rating in a research report on Saturday, March 21st. Finally, Royal Bank Of Canada lifted their price target on Kinetik from $46.00 to $49.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 10th.

Insider Buying and Selling at Kinetik

In related news, insider Matthew Wall sold 3,222 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total value of $151,176.24. Following the completion of the sale, the insider owned 585,556 shares in the company, valued at $27,474,287.52. This represents a 0.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Trevor Howard sold 1,619 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $75,963.48. Following the sale, the insider owned 249,795 shares of the company’s stock, valued at approximately $11,720,381.40. This represents a 0.64% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 4,007,748 shares of company stock valued at $179,763,536. 3.83% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Kinetik

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Kinetik by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock worth $183,739,000 after buying an additional 439,586 shares during the last quarter. Zimmer Partners LP purchased a new stake in Kinetik during the 4th quarter valued at approximately $98,611,000. Cohen & Steers Inc. raised its stake in Kinetik by 82.5% during the 4th quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock valued at $66,458,000 after acquiring an additional 833,224 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT lifted its position in Kinetik by 86.5% during the 4th 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 acquiring an additional 855,000 shares during the period. Finally, Invesco Ltd. lifted its position in Kinetik by 22.4% during the 4th quarter. Invesco Ltd. now owns 1,775,216 shares of the company’s stock worth $63,997,000 after acquiring an additional 325,251 shares during the period. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Trading Up 1.9%

Shares of NYSE:KNTK opened at $46.67 on Friday. The company has a market capitalization of $7.57 billion, a PE ratio of 18.16, a P/E/G ratio of 1.55 and a beta of 0.66. Kinetik has a twelve month low of $31.33 and a twelve month high of $52.03. The firm has a 50 day simple moving average of $44.16 and a 200-day simple moving average of $39.70.

Kinetik (NYSE:KNTK) last posted its earnings results on Thursday, February 26th. The company reported $2.16 EPS for the quarter, beating analysts’ consensus estimates of $0.15 by $2.01. Kinetik had a net margin of 29.23% and a negative return on equity of 32.70%. The firm had revenue of $430.42 million for the quarter. During the same period last year, the business earned $0.01 earnings per share. The company’s quarterly revenue was up 11.5% on a year-over-year basis.

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.