Kinetik Holdings Inc. (NASDAQ:KNTK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are currently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $45.71.

Several equities research analysts have recently issued reports on the stock. Mizuho lifted their price objective on shares of Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price objective on shares of Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. Finally, Barclays lifted their price objective on shares of Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th.

Kinetik Stock Down 0.7 %

Shares of KNTK stock opened at $48.67 on Friday. Kinetik has a 52 week low of $31.73 and a 52 week high of $51.97. The stock has a market capitalization of $7.67 billion, a PE ratio of 18.94, a P/E/G ratio of 2.38 and a beta of 2.91. The firm has a 50 day moving average of $46.60 and a two-hundred day moving average of $42.82.

Kinetik (NASDAQ:KNTK) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.43 by $0.11. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The company had revenue of $359.50 million during the quarter, compared to analysts’ expectations of $305.94 million. During the same quarter last year, the company posted $0.41 EPS. The firm’s revenue was up 21.4% compared to the same quarter last year. Analysts expect that Kinetik will post 1.44 EPS for the current fiscal year.

Kinetik Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 7th. Investors of record on Monday, October 28th will be paid a dividend of $0.78 per share. This is a positive change from Kinetik’s previous quarterly dividend of $0.75. This represents a $3.12 annualized dividend and a yield of 6.41%. The ex-dividend date is Monday, October 28th. Kinetik’s dividend payout ratio (DPR) is currently 121.40%.

Institutional Investors Weigh In On Kinetik

Several hedge funds and other institutional investors have recently bought and sold shares of KNTK. Beach Investment Counsel Inc. PA acquired a new stake in Kinetik during the 2nd quarter worth $27,000. Ameritas Investment Partners Inc. raised its stake in Kinetik by 112.8% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,633 shares of the company’s stock worth $145,000 after acquiring an additional 1,926 shares in the last quarter. Blue Trust Inc. increased its stake in Kinetik by 244.9% in the third quarter. Blue Trust Inc. now owns 3,801 shares of the company’s stock valued at $158,000 after purchasing an additional 2,699 shares during the period. Harbor Capital Advisors Inc. increased its stake in Kinetik by 270.0% in the second quarter. Harbor Capital Advisors Inc. now owns 3,841 shares of the company’s stock valued at $159,000 after purchasing an additional 2,803 shares during the period. Finally, CWM LLC increased its stake in Kinetik by 2,030.9% in the third quarter. CWM LLC now owns 3,793 shares of the company’s stock valued at $172,000 after purchasing an additional 3,615 shares during the period. 21.11% of the stock is currently owned by institutional investors and hedge funds.

About Kinetik

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.