Kinetik Holdings Inc. (NYSE:KNTK) Receives Average Recommendation of “Hold” from Brokerages

Kinetik Holdings Inc. (NYSE:KNTK) has been given a consensus rating of “Hold” by the thirteen research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $46.00.

Several analysts have issued reports on the company. Royal Bank Of Canada cut their price objective on Kinetik from $52.00 to $46.00 and set an “outperform” rating on the stock in a report on Wednesday, November 19th. Raymond James Financial set a $46.00 target price on shares of Kinetik in a research report on Monday, January 5th. Scotiabank restated an “outperform” rating and set a $48.00 price target on shares of Kinetik in a report on Friday, January 16th. Citigroup decreased their price objective on shares of Kinetik from $55.00 to $46.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Kinetik in a research note on Thursday, January 22nd.

Insider Buying and Selling at Kinetik

In related news, insider Matthew Wall sold 8,083 shares of the company’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $36.05, for a total transaction of $291,392.15. Following the transaction, the insider directly owned 554,738 shares of the company’s stock, valued at approximately $19,998,304.90. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.83% of the company’s stock.

Hedge Funds Weigh In On Kinetik

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC increased its holdings in shares of Kinetik by 89.8% in the 4th quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after purchasing an additional 352 shares during the period. Signaturefd LLC grew its position in Kinetik by 101.5% during the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares in the last quarter. Los Angeles Capital Management LLC acquired a new position in Kinetik in the 4th quarter valued at approximately $40,000. Huntington National Bank increased its stake in Kinetik by 139.1% in the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after buying an additional 711 shares during the period. Finally, SBI Okasan Asset Management Co.Ltd. purchased a new stake in Kinetik in the 4th quarter worth approximately $47,000. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Stock Up 0.5%

Shares of Kinetik stock opened at $41.94 on Thursday. Kinetik has a 12-month low of $31.33 and a 12-month high of $62.64. The firm has a market capitalization of $6.78 billion, a PE ratio of 99.86, a price-to-earnings-growth ratio of 1.02 and a beta of 0.73. The stock’s fifty day moving average is $37.70 and its 200-day moving average is $38.75.

Kinetik Company Profile

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.