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

Kinetik Holdings Inc. (NASDAQ:KNTK) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $42.00.

KNTK has been the subject of a number of analyst reports. Scotiabank boosted their price objective on Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a research report on Tuesday, July 2nd. Barclays reissued an “equal weight” rating and set a $43.00 price target on shares of Kinetik in a report on Wednesday, July 10th. Finally, Royal Bank of Canada increased their price objective on shares of Kinetik from $43.00 to $46.00 and gave the stock an “outperform” rating in a report on Thursday, August 15th.

Institutional Trading of Kinetik

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. American Financial Group Inc. increased its stake in shares of Kinetik by 3.8% during the first quarter. American Financial Group Inc. now owns 13,500 shares of the company’s stock valued at $538,000 after acquiring an additional 500 shares during the period. Beach Investment Counsel Inc. PA acquired a new stake in shares of Kinetik in the second quarter valued at $27,000. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Kinetik by 1.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 63,335 shares of the company’s stock valued at $2,525,000 after buying an additional 1,000 shares during the period. Commonwealth Equity Services LLC grew its holdings in Kinetik by 3.8% during the first quarter. Commonwealth Equity Services LLC now owns 38,264 shares of the company’s stock worth $1,526,000 after acquiring an additional 1,387 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in Kinetik by 112.8% during the first quarter. Ameritas Investment Partners Inc. now owns 3,633 shares of the company’s stock worth $145,000 after acquiring an additional 1,926 shares during the period. 21.11% of the stock is currently owned by institutional investors.

Kinetik Trading Down 0.4 %

KNTK stock opened at $43.44 on Thursday. The stock’s 50 day simple moving average is $42.67 and its 200 day simple moving average is $40.23. Kinetik has a 12-month low of $31.31 and a 12-month high of $45.60. The firm has a market cap of $6.67 billion, a P/E ratio of 17.80, a P/E/G ratio of 2.35 and a beta of 2.91.

Kinetik (NASDAQ:KNTK) last issued its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. The firm had revenue of $359.50 million for the quarter, compared to analysts’ expectations of $305.94 million. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. Kinetik’s revenue was up 21.4% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. On average, research analysts forecast that Kinetik will post 1.39 EPS for the current fiscal year.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Monday, July 29th were given a $0.75 dividend. The ex-dividend date of this dividend was Monday, July 29th. This represents a $3.00 dividend on an annualized basis and a yield of 6.91%. Kinetik’s dividend payout ratio is presently 122.95%.

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.