Kinetik Holdings Inc. (NYSE:KNTK) Receives $46.00 Average Price Target from Brokerages

Kinetik Holdings Inc. (NYSE:KNTK) has received a consensus recommendation of “Hold” from the thirteen analysts that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, six have given a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $46.00.

Several equities research analysts have weighed in on KNTK shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kinetik in a research report on Thursday, January 22nd. Wolfe Research downgraded Kinetik from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. Mizuho set a $48.00 target price on Kinetik in a report on Wednesday, October 29th. Jefferies Financial Group cut Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research report on Friday, February 6th. Finally, The Goldman Sachs Group lowered their price objective on Kinetik from $46.00 to $40.00 and set a “buy” rating on the stock in a research report on Monday, November 17th.

Insider Buying and Selling

In related news, insider Matthew Wall sold 8,083 shares of the firm’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $36.05, for a total transaction of $291,392.15. Following the sale, the insider 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.83% of the company’s stock.

Institutional Investors Weigh In On Kinetik

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Kinetik by 9.4% in the 4th quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock valued at $183,739,000 after purchasing an additional 439,586 shares in the last quarter. Cohen & Steers Inc. grew its holdings in Kinetik by 82.5% in the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock valued at $66,458,000 after purchasing an additional 833,224 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its position in shares of Kinetik by 86.5% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock valued at $66,455,000 after buying an additional 855,000 shares in the last quarter. State Street Corp raised its stake in shares of Kinetik by 5.1% during the 4th quarter. State Street Corp now owns 1,643,532 shares of the company’s stock worth $59,249,000 after buying an additional 79,474 shares during the period. Finally, Brave Warrior Advisors LLC purchased a new position in shares of Kinetik during the 3rd quarter valued at approximately $68,766,000. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Trading Up 2.7%

KNTK opened at $41.57 on Thursday. Kinetik has a 12-month low of $31.33 and a 12-month high of $62.12. The firm has a 50 day moving average of $37.86 and a two-hundred day moving average of $38.73. The firm has a market capitalization of $6.72 billion, a PE ratio of 98.98, a P/E/G ratio of 1.01 and a beta of 0.73.

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.