Kinetik (KNTK) to Release Earnings on Wednesday

Kinetik (NASDAQ:KNTK - Get Free Report) will release its earnings data after the market closes on Wednesday, November 6th. Analysts expect Kinetik to post earnings of $0.52 per share for the quarter. Individual that wish to register for the company's earnings conference call can do so using this link.

Kinetik (NASDAQ:KNTK - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.11. The firm had revenue of $359.50 million for the quarter, compared to the consensus estimate of $305.94 million. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The firm's quarterly revenue was up 21.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.41 EPS. On average, analysts expect Kinetik to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Kinetik Trading Up 0.3 %

NASDAQ:KNTK traded up $0.14 on Wednesday, reaching $49.02. The stock had a trading volume of 258,324 shares, compared to its average volume of 510,253. Kinetik has a 12-month low of $31.73 and a 12-month high of $51.97. The stock has a market cap of $7.72 billion, a P/E ratio of 19.08, a price-to-earnings-growth ratio of 2.38 and a beta of 2.91. The company has a 50-day moving average of $46.47 and a 200 day moving average of $42.78.

Kinetik Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Monday, October 28th will be paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 6.36%. The ex-dividend date of this dividend is Monday, October 28th. This is a positive change from Kinetik's previous quarterly dividend of $0.75. Kinetik's dividend payout ratio (DPR) is 121.40%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Royal Bank of Canada raised their price target 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. Scotiabank raised their price objective on shares of Kinetik from $42.00 to $48.00 and gave the stock a "sector outperform" rating in a report on Tuesday, July 2nd. Barclays upped their target price on shares of Kinetik from $43.00 to $47.00 and gave the company an "equal weight" rating in a research note on Monday, October 14th. Finally, Mizuho lifted their price target on Kinetik from $47.00 to $55.00 and gave the stock an "outperform" rating in a research note on Thursday, October 24th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $45.71.

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.