Kinetik Holdings Inc. (NASDAQ:KNTK) Given Average Recommendation of "Moderate Buy" by Analysts

Kinetik Holdings Inc. (NASDAQ:KNTK - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven research firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $45.71.

A number of equities research analysts recently commented on KNTK shares. Royal Bank of Canada increased their price objective on shares of Kinetik from $46.00 to $52.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Mizuho raised their price objective on shares of Kinetik from $47.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Finally, Barclays upped their target price on Kinetik from $43.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th.

Institutional Investors Weigh In On Kinetik

Institutional investors have recently bought and sold shares of the stock. Ashton Thomas Securities LLC purchased a new stake in shares of Kinetik during the 3rd quarter valued at $46,000. Blue Trust Inc. grew its position in Kinetik by 244.9% during the third quarter. Blue Trust Inc. now owns 3,801 shares of the company's stock valued at $158,000 after acquiring an additional 2,699 shares during the period. CWM LLC increased its stake in Kinetik by 2,030.9% during the third quarter. CWM LLC now owns 3,793 shares of the company's stock worth $172,000 after acquiring an additional 3,615 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Kinetik in the 2nd quarter worth about $187,000. Finally, Covestor Ltd lifted its stake in shares of Kinetik by 13,790.0% in the 3rd quarter. Covestor Ltd now owns 4,167 shares of the company's stock valued at $189,000 after purchasing an additional 4,137 shares in the last quarter. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Kinetik Stock Performance

KNTK traded down $1.34 on Friday, hitting $56.81. 383,841 shares of the company were exchanged, compared to its average volume of 515,261. Kinetik has a fifty-two week low of $31.73 and a fifty-two week high of $62.55. The firm has a market capitalization of $8.95 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.83 and a beta of 2.95. The business's fifty day moving average is $54.18 and its 200 day moving average is $46.71.

Kinetik (NASDAQ:KNTK - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $396.40 million during the quarter, compared to analysts' expectations of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business's revenue for the quarter was up 20.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.21 earnings per share. Analysts forecast that Kinetik will post 1.35 EPS for the current fiscal year.

Kinetik Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 7th. Investors of record on Monday, October 28th were paid a $0.78 dividend. 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 5.49%. The ex-dividend date of this dividend was Monday, October 28th. Kinetik's dividend payout ratio is presently 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.