Analysts Set Kinetik Holdings Inc. (NYSE:KNTK) PT at $49.17

Kinetik Holdings Inc. (NYSE:KNTK) has earned a consensus recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the stock, Marketbeat.com reports. Six research analysts have rated the stock with a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $49.1667.

Several equities research analysts have recently issued reports on KNTK shares. Wells Fargo & Company raised Kinetik from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $47.00 to $52.00 in a report on Wednesday, March 25th. Zacks Research upgraded Kinetik from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 26th. Wall Street Zen lowered Kinetik from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 17th. Weiss Ratings lowered Kinetik from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Finally, Barclays set a $50.00 price target on Kinetik and gave the stock an “equal weight” rating in a research report on Thursday, May 14th.

Insider Buying and Selling

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of Kinetik 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 completion of the transaction, the insider owned 428,894 shares in the company, valued at approximately $21,667,724.88. This trade represents a 55.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders sold a total of 1,071,107 shares of company stock valued at $53,172,463 in the last ninety days. Company insiders own 3.56% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in KNTK. CWM LLC grew its position in Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after acquiring an additional 352 shares in the last quarter. Signaturefd LLC boosted its position in shares of Kinetik by 101.5% during the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after buying an additional 404 shares during the period. Kestra Advisory Services LLC purchased a new position in shares of Kinetik during the fourth quarter valued at approximately $33,000. Los Angeles Capital Management LLC purchased a new position in shares of Kinetik during the fourth quarter valued at approximately $40,000. Finally, Huntington National Bank boosted its position 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 buying an additional 711 shares during the period. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Trading Down 0.2%

Shares of KNTK stock opened at $46.46 on Wednesday. Kinetik has a 12-month low of $31.33 and a 12-month high of $51.51. The stock’s 50-day moving average price is $47.75 and its 200-day moving average price is $43.42. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 2.40 and a beta of 0.57.

Kinetik (NYSE:KNTK) last issued its earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.23). Kinetik had a negative return on equity of 36.36% and a net margin of 28.58%.The firm had revenue of $409.98 million during the quarter. During the same quarter last year, the business earned $0.05 earnings per share. The company’s revenue was down 7.5% on a year-over-year basis. As a group, research 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.