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

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

Several brokerages have recently issued reports on KNTK. Barclays dropped their target price on shares of Kinetik from $43.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 8th. Jefferies Financial Group started coverage on Kinetik in a research note on Tuesday, December 2nd. They set a “buy” rating and a $41.00 price objective for the company. Mizuho set a $48.00 target price on Kinetik in a research report on Wednesday, October 29th. The Goldman Sachs Group lowered their price target on Kinetik from $46.00 to $40.00 and set a “buy” rating on the stock in a research note on Monday, November 17th. Finally, Wall Street Zen downgraded Kinetik from a “hold” rating to a “sell” rating in a research note on Sunday, September 28th.

Insider Buying and Selling at Kinetik

In other Kinetik news, insider Jamie Welch purchased 8,000 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were purchased at an average cost of $34.57 per share, for a total transaction of $276,560.00. Following the completion of the transaction, the insider owned 3,687,791 shares of the company’s stock, valued at $127,486,934.87. The trade was a 0.22% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Bell Investment Advisors Inc purchased a new stake in shares of Kinetik in the first quarter valued at approximately $41,000. Aster Capital Management DIFC Ltd acquired a new position in Kinetik during the third quarter worth $54,000. Chung Wu Investment Group LLC purchased a new stake in Kinetik in the 2nd quarter valued at $56,000. Advisory Services Network LLC purchased a new position in shares of Kinetik during the 3rd quarter worth $55,000. Finally, Comerica Bank raised its holdings in shares of Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company’s stock worth $80,000 after acquiring an additional 732 shares during the period. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Kinetik Trading Up 2.9%

Shares of KNTK opened at $35.56 on Wednesday. The firm has a market cap of $5.75 billion, a P/E ratio of 84.67, a PEG ratio of 1.88 and a beta of 0.78. Kinetik has a 12 month low of $31.33 and a 12 month high of $67.60. The stock’s 50 day moving average is $35.69 and its two-hundred day moving average is $39.80.

Kinetik (NYSE:KNTK) last announced its earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). The business had revenue of $463.97 million for 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%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business 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.