Kinetik Holdings Inc. (NYSE:KNTK) Receives $46.00 Average PT from Analysts

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have been given a consensus recommendation of “Hold” by the thirteen research firms that are covering the company, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, six have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $46.00.

Several research firms recently weighed in on KNTK. Scotiabank reiterated an “outperform” rating and issued a $48.00 price target on shares of Kinetik in a report on Friday, January 16th. Royal Bank Of Canada cut their target price on shares of Kinetik from $52.00 to $46.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 19th. The Goldman Sachs Group decreased their price target on shares of Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research note on Monday, November 17th. Jefferies Financial Group downgraded Kinetik from a “buy” rating to a “hold” rating and set a $43.00 target price on the stock. in a report on Friday, February 6th. Finally, Raymond James Financial set a $46.00 target price on Kinetik in a research report on Monday, January 5th.

Insider Activity at Kinetik

In related news, insider Matthew Wall sold 8,083 shares of Kinetik stock in a transaction dated Friday, January 2nd. The shares were sold at an average price of $36.05, for a total transaction of $291,392.15. Following the completion of the transaction, the insider directly owned 554,738 shares of the company’s stock, valued at $19,998,304.90. This trade represents a 1.44% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 3.83% of the company’s stock.

Hedge Funds Weigh In On Kinetik

Several large investors have recently made changes to their positions in KNTK. Brave Warrior Advisors LLC purchased a new position in Kinetik during the third quarter valued at $68,766,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT increased its stake 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 valued at $66,455,000 after purchasing an additional 855,000 shares in the last quarter. Cohen & Steers Inc. raised 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 worth $66,458,000 after buying an additional 833,224 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Kinetik by 382.8% in the fourth quarter. Principal Financial Group Inc. now owns 1,018,692 shares of the company’s stock worth $36,724,000 after buying an additional 807,707 shares during the last quarter. Finally, RR Advisors LLC bought a new position in shares of Kinetik in the second quarter worth approximately $22,471,000. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Kinetik Price Performance

KNTK opened at $41.57 on Thursday. Kinetik has a one year low of $31.33 and a one year high of $62.12. The business has a 50 day simple moving average of $37.96 and a two-hundred day simple moving average of $38.69. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of 98.98, a PEG 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.