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

Kinetik Holdings Inc. (NASDAQ:KNTK) has been assigned a consensus rating of “Moderate Buy” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $59.25.

A number of brokerages have recently weighed in on KNTK. Wells Fargo & Company lifted their price objective on Kinetik from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. Scotiabank cut their price target on shares of Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a research note on Tuesday, January 21st. Mizuho raised their price objective on shares of Kinetik from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on shares of Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 15th. Finally, The Goldman Sachs Group increased their target price on shares of Kinetik from $46.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, December 19th.

Institutional Investors Weigh In On Kinetik

A number of large investors have recently modified their holdings of the company. Harbor Capital Advisors Inc. lifted its position in shares of Kinetik by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock worth $515,000 after purchasing an additional 174 shares during the last quarter. GAMMA Investing LLC raised its stake in Kinetik by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after buying an additional 213 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Kinetik by 5.3% during the 4th quarter. Private Advisor Group LLC now owns 8,859 shares of the company’s stock worth $502,000 after buying an additional 448 shares during the last quarter. Fifth Third Bancorp acquired a new position in shares of Kinetik during the 4th quarter worth about $26,000. Finally, Canton Hathaway LLC purchased a new position in shares of Kinetik in the 4th quarter valued at about $28,000. 21.11% of the stock is owned by hedge funds and other institutional investors.

Kinetik Price Performance

Shares of KNTK opened at $62.54 on Friday. The firm has a 50-day simple moving average of $60.02 and a two-hundred day simple moving average of $51.95. Kinetik has a 1-year low of $31.98 and a 1-year high of $67.60. The stock has a market cap of $9.85 billion, a PE ratio of 23.08, a P/E/G ratio of 1.67 and a beta of 2.89.

Kinetik (NASDAQ:KNTK) last posted its earnings results on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.10). Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The company had revenue of $396.40 million during the quarter, compared to analyst estimates of $331.21 million. During the same quarter last year, the business posted $0.21 EPS. The firm’s revenue for the quarter was up 20.0% on a year-over-year basis. As a group, sell-side analysts expect that Kinetik will post 1.96 earnings per share for the current fiscal year.

Kinetik Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 12th. Investors of record on Monday, February 3rd will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, February 3rd. This represents a $3.12 dividend on an annualized basis and a yield of 4.99%. Kinetik’s dividend payout ratio is currently 115.13%.

Kinetik Company Profile

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.