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

Kinetik Holdings Inc. (NYSE:KNTK) has been assigned an average recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the firm, MarketBeat Ratings reports. Six analysts have rated the stock with a hold rating, eight have issued a buy rating and two have issued a strong buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $49.7692.

KNTK has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their price objective on Kinetik from $54.00 to $57.00 and gave the company an “overweight” rating in a research report on Tuesday. Royal Bank Of Canada boosted their target price on Kinetik from $50.00 to $53.00 and gave the company an “outperform” rating in a research report on Friday, June 5th. US Capital Advisors raised Kinetik from a “moderate buy” rating to a “strong-buy” rating in a research report on Friday, May 29th. Wells Fargo & Company raised Kinetik from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $47.00 to $52.00 in a report on Wednesday, March 25th. Finally, Scotiabank reissued an “outperform” rating and set a $52.00 price objective (up from $51.00) on shares of Kinetik in a research report on Tuesday, May 12th.

Insider Activity at Kinetik

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the firm’s stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $50.52, for a total value of $27,006,173.28. Following the sale, the insider directly owned 428,894 shares of the company’s stock, valued at approximately $21,667,724.88. This trade represents a 55.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,071,107 shares of company stock worth $53,172,463 in the last ninety days. Insiders own 3.56% of the company’s stock.

Institutional Trading of Kinetik

A number of institutional investors and hedge funds have recently modified their holdings of KNTK. CWM LLC raised its stake in shares of Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after buying an additional 352 shares in the last quarter. Signaturefd LLC lifted its position in Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after acquiring an additional 404 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in Kinetik in the 4th quarter valued at $33,000. Los Angeles Capital Management LLC bought a new stake in shares of Kinetik in the 4th quarter worth about $40,000. Finally, Huntington National Bank lifted its stake in shares of Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after acquiring an additional 711 shares during the period. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Trading Up 2.4%

Shares of NYSE KNTK opened at $49.90 on Friday. The firm’s 50-day moving average price is $48.06 and its 200-day moving average price is $45.14. Kinetik has a 12-month low of $31.33 and a 12-month high of $51.51. The stock has a market capitalization of $8.10 billion, a price-to-earnings ratio of 20.37, a P/E/G ratio of 2.52 and a beta of 0.56.

Kinetik (NYSE:KNTK) last posted its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.23). The company had revenue of $409.98 million during the quarter. Kinetik had a negative return on equity of 36.36% and a net margin of 28.58%.The company’s revenue was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.05 EPS. On average, equities analysts predict that Kinetik will post 0.62 EPS for the current fiscal year.

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.