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

Kinetik Holdings Inc. (NYSE:KNTK) has earned a consensus recommendation of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $48.9167.

Several brokerages have issued reports on KNTK. Jefferies Financial Group reissued a “hold” rating and issued a $51.00 target price on shares of Kinetik in a research report on Friday, May 8th. Weiss Ratings cut Kinetik from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Truist Financial began coverage on Kinetik in a research report on Tuesday, March 24th. They issued a “buy” rating and a $53.00 target price on the stock. Scotiabank reissued an “outperform” rating and issued a $52.00 target price (up from $51.00) on shares of Kinetik in a research report on Tuesday, May 12th. Finally, Mizuho raised their target price on Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th.

Insider Transactions at Kinetik

In other Kinetik news, insider Matthew Wall sold 3,222 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $151,176.24. Following the transaction, the insider directly owned 585,556 shares of the company’s stock, valued at approximately $27,474,287.52. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Steven Stellato sold 2,907 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $136,396.44. Following the completion of the transaction, the insider directly owned 393,382 shares in the company, valued at $18,457,483.44. The trade was a 0.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 5,078,855 shares of company stock valued at $232,935,999. Company insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. CWM LLC lifted its position in shares of Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after buying an additional 352 shares in the last quarter. Signaturefd LLC lifted its position in shares of Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after buying an additional 404 shares in the last quarter. Kestra Advisory Services LLC purchased a new position in shares of Kinetik during the 4th quarter valued at about $33,000. Los Angeles Capital Management LLC purchased a new position in shares of Kinetik during the 4th quarter valued at about $40,000. Finally, Huntington National Bank lifted its position in shares of Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 711 shares in the last quarter. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Stock Performance

NYSE KNTK opened at $50.44 on Friday. Kinetik has a one year low of $31.33 and a one year high of $51.51. The stock has a 50-day moving average of $47.75 and a 200 day moving average of $41.63. The company has a market capitalization of $8.19 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.91 and a beta of 0.61.

Kinetik (NYSE:KNTK) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.23). The business 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 business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.05 EPS. On average, equities analysts predict that Kinetik will post 0.84 earnings per share for the current fiscal year.

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.