Kinetik (NASDAQ:KNTK) Sets New 12-Month High - What's Next?

Kinetik Holdings Inc. (NASDAQ:KNTK - Get Free Report) hit a new 52-week high on Tuesday . The company traded as high as $65.89 and last traded at $65.04, with a volume of 24833 shares changing hands. The stock had previously closed at $65.17.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on KNTK shares. Scotiabank dropped their price target on Kinetik from $64.00 to $62.00 and set a "sector outperform" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. increased their price objective on shares of Kinetik from $63.00 to $65.00 and gave the company an "overweight" rating in a research note on Wednesday, January 15th. Mizuho boosted 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. Wells Fargo & Company increased their target price on Kinetik from $58.00 to $60.00 and gave the company an "equal weight" rating in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price objective on Kinetik from $46.00 to $52.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 16th. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $59.25.

Kinetik Trading Up 2.1 %

The company has a 50-day moving average of $58.57 and a 200-day moving average of $50.10. The company has a market capitalization of $10.48 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 1.80 and a beta of 2.91.

Kinetik (NASDAQ:KNTK - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.10). The company 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. On average, research analysts expect that Kinetik Holdings Inc. will post 1.35 EPS for the current year.

Institutional Investors Weigh In On Kinetik

A number of large investors have recently made changes to their positions in KNTK. Harbor Capital Advisors Inc. grew its stake in Kinetik by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company's stock valued at $515,000 after purchasing an additional 174 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Kinetik by 72.0% during the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company's stock worth $29,000 after purchasing an additional 213 shares during the period. Fifth Third Bancorp purchased a new stake in Kinetik in the fourth quarter valued at approximately $26,000. Exchange Traded Concepts LLC increased its holdings in Kinetik by 0.9% in the 4th quarter. Exchange Traded Concepts LLC now owns 81,230 shares of the company's stock worth $4,607,000 after buying an additional 739 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in Kinetik by 14.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,867 shares of the company's stock worth $356,000 after buying an additional 983 shares during the last quarter. 21.11% of the stock is owned by hedge funds and other institutional investors.

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.