Analysts Set Kinetik Holdings Inc. (NYSE:KNTK) PT at $48.08

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have been assigned an average rating of “Moderate Buy” from the fourteen ratings firms that are covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $48.3333.

KNTK has been the subject of several recent research reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Kinetik in a report on Tuesday, April 21st. Citigroup increased their price target on Kinetik from $46.00 to $51.00 and gave the company a “buy” rating in a report on Monday, March 2nd. UBS Group lowered their price target on Kinetik from $49.00 to $48.00 and set a “neutral” rating for the company in a report on Monday, March 16th. Zacks Research upgraded Kinetik from a “strong sell” rating to a “hold” rating in a report on Thursday, March 26th. Finally, Wall Street Zen upgraded Kinetik from a “sell” rating to a “hold” rating in a report on Sunday, April 26th.

Kinetik Stock Up 2.8%

KNTK stock opened at $50.76 on Tuesday. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 19.75, a PEG ratio of 1.56 and a beta of 0.61. The business has a fifty day simple moving average of $46.59 and a 200-day simple moving average of $40.50. Kinetik has a 52 week low of $31.33 and a 52 week high of $51.11.

Kinetik (NYSE:KNTK) last released its quarterly earnings data on Thursday, February 26th. The company reported $2.16 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $2.01. The business had revenue of $430.42 million during the quarter. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.The company’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 earnings per share. As a group, analysts expect that Kinetik will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the stock in a transaction on Thursday, April 30th. The stock was sold at an average price of $50.52, for a total value of $27,006,173.28. Following the completion of the sale, the insider directly owned 428,894 shares in the company, valued at approximately $21,667,724.88. This represents a 55.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Matthew Wall sold 3,222 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total value of $151,176.24. Following the completion of the sale, the insider owned 585,556 shares of the company’s stock, valued at approximately $27,474,287.52. This represents a 0.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 5,078,855 shares of company stock valued at $232,935,999 in the last 90 days. 3.56% of the stock is currently owned by company insiders.

Institutional Trading of Kinetik

Several large investors have recently modified their holdings of KNTK. Zimmer Partners LP acquired a new stake in shares of Kinetik during the fourth quarter valued at about $98,611,000. Brave Warrior Advisors LLC acquired a new stake in shares of Kinetik during the third quarter valued at about $68,766,000. Wellington Management Group LLP grew its stake in shares of Kinetik by 149.6% during the fourth quarter. Wellington Management Group LLP now owns 1,608,403 shares of the company’s stock valued at $57,983,000 after acquiring an additional 964,130 shares in the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its stake in shares of Kinetik by 86.5% during the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 1,843,400 shares of the company’s stock valued at $66,455,000 after acquiring an additional 855,000 shares in the last quarter. Finally, Cohen & Steers Inc. grew its stake in shares of Kinetik by 82.5% during the fourth quarter. Cohen & Steers Inc. now owns 1,843,506 shares of the company’s stock valued at $66,458,000 after acquiring an additional 833,224 shares in the last quarter. 21.11% of the stock is currently owned by institutional investors and hedge funds.

About Kinetik

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.