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

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have received an average rating of “Hold” from the thirteen ratings firms that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $46.00.

KNTK has been the topic of a number of research analyst reports. Scotiabank reissued an “outperform” rating and set a $48.00 price target on shares of Kinetik in a report on Friday, January 16th. Citigroup decreased their target price on shares of Kinetik from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Zacks Research cut shares of Kinetik from a “hold” rating to a “strong sell” rating in a research note on Monday, January 5th. Jefferies Financial Group lowered shares of Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price target for the company. in a research note on Friday, February 6th. Finally, Raymond James Financial set a $46.00 price objective on shares of Kinetik in a report on Monday, January 5th.

Insider Activity

In other news, insider Matthew Wall sold 8,083 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $36.05, for a total value of $291,392.15. Following the sale, the insider owned 554,738 shares of the company’s stock, valued at approximately $19,998,304.90. The trade was a 1.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 3.83% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Kinetik during the fourth quarter valued at approximately $40,000. Huntington National Bank boosted its holdings in Kinetik by 139.1% during the fourth quarter. Huntington National Bank now owns 1,222 shares of the company’s stock worth $44,000 after buying an additional 711 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new position in Kinetik in the third quarter worth approximately $54,000. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Price Performance

Shares of KNTK stock opened at $41.94 on Thursday. Kinetik has a 12-month low of $31.33 and a 12-month high of $62.64. The firm has a market capitalization of $6.78 billion, a price-to-earnings ratio of 99.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.73. The business has a 50 day simple moving average of $37.70 and a 200 day simple moving average of $38.75.

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.