Kinetik (NASDAQ:KNTK - Free Report) had its price target increased by The Goldman Sachs Group from $46.00 to $61.00 in a report released on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.
A number of other research firms have also commented on KNTK. Wells Fargo & Company raised their price objective on shares of Kinetik from $58.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Wednesday. Mizuho raised their target price on Kinetik from $47.00 to $55.00 and gave the stock an "outperform" rating in a research report on Thursday, October 24th. Citigroup lifted their price target on Kinetik from $54.00 to $58.00 and gave the company a "neutral" rating in a report on Monday. Royal Bank of Canada increased 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. Finally, Barclays lifted 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $53.00.
Get Our Latest Report on Kinetik
Kinetik Trading Down 0.1 %
KNTK stock traded down $0.07 on Thursday, hitting $54.57. 1,027,193 shares of the company's stock traded hands, compared to its average volume of 521,119. The stock has a market cap of $8.60 billion, a price-to-earnings ratio of 20.14, a P/E/G ratio of 2.83 and a beta of 2.95. Kinetik has a 1-year low of $31.73 and a 1-year high of $62.55. The stock has a fifty day moving average of $54.61 and a 200-day moving average of $47.04.
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 analysts' consensus estimates of $0.45 by ($0.10). The company had revenue of $396.40 million for the quarter, compared to analyst estimates of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. Kinetik's revenue was up 20.0% on a year-over-year basis. During the same quarter last year, the company posted $0.21 EPS. On average, equities research analysts anticipate that Kinetik will post 1.35 earnings per share for the current fiscal year.
Kinetik Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, November 7th. Stockholders of record on Monday, October 28th were paid a dividend of $0.78 per share. The ex-dividend date was Monday, October 28th. This is an increase from Kinetik's previous quarterly dividend of $0.75. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.72%. Kinetik's dividend payout ratio (DPR) is 115.13%.
Hedge Funds Weigh In On Kinetik
A number of hedge funds have recently added to or reduced their stakes in the company. Versor Investments LP bought a new stake in Kinetik in the third quarter worth approximately $543,000. Barclays PLC lifted its stake in shares of Kinetik by 34.5% in the 3rd quarter. Barclays PLC now owns 234,286 shares of the company's stock valued at $10,603,000 after purchasing an additional 60,058 shares during the last quarter. Principal Financial Group Inc. bought a new stake in Kinetik in the third quarter worth $921,000. Eos Management L.P. increased its position in Kinetik by 84.9% during the third quarter. Eos Management L.P. now owns 27,000 shares of the company's stock worth $1,222,000 after buying an additional 12,400 shares during the last quarter. Finally, Quest Partners LLC raised its holdings in Kinetik by 261.7% during the third quarter. Quest Partners LLC now owns 41,448 shares of the company's stock valued at $1,876,000 after buying an additional 29,988 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company's stock.
About Kinetik
(
Get Free Report)
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.
Featured Articles
Before you consider Kinetik, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kinetik wasn't on the list.
While Kinetik currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
