Brokerages Set Kinetik Holdings Inc. (NYSE:KNTK) PT at $45.55

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have been assigned a consensus rating of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $46.0909.

KNTK has been the topic of several research analyst reports. Wall Street Zen cut Kinetik from a “hold” rating to a “sell” rating in a report on Sunday, March 8th. Royal Bank Of Canada lifted their price target on Kinetik from $46.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, March 10th. Wolfe Research downgraded shares of Kinetik from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, January 27th. Zacks Research lowered shares of Kinetik from a “hold” rating to a “strong sell” rating in a report on Monday, January 5th. Finally, Jefferies Financial Group cut shares of Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price objective for the company. in a research report on Friday, February 6th.

Kinetik Price Performance

Shares of KNTK opened at $44.79 on Monday. The company has a market capitalization of $7.24 billion, a P/E ratio of 17.43, a PEG ratio of 1.42 and a beta of 0.69. Kinetik has a one year low of $31.33 and a one year high of $54.94. The business’s 50 day simple moving average is $41.55 and its 200-day simple moving average is $39.21.

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

Insider Activity at Kinetik

In related news, insider Matthew Wall sold 3,222 shares of the firm’s stock in a transaction that occurred 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 $27,474,287.52. This trade represents a 0.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Steven Stellato sold 2,907 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $136,396.44. Following the completion of the transaction, the insider owned 393,382 shares of the company’s stock, valued at $18,457,483.44. This trade represents a 0.73% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,015,831 shares of company stock valued at $180,054,928 over the last three months. 3.83% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kinetik

A number of institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC boosted its holdings in Kinetik by 89.8% in the fourth quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after acquiring an additional 352 shares during the last quarter. Signaturefd LLC increased its position in Kinetik by 101.5% in the fourth quarter. Signaturefd LLC now owns 802 shares of the company’s stock worth $29,000 after purchasing an additional 404 shares during the period. Kestra Advisory Services LLC bought a new stake in Kinetik during the 4th quarter worth about $33,000. Los Angeles Capital Management LLC bought a new stake in Kinetik during the 4th quarter worth about $40,000. Finally, Huntington National Bank lifted its position in Kinetik by 139.1% during the 4th quarter. Huntington National Bank now owns 1,222 shares of the company’s stock valued at $44,000 after purchasing an additional 711 shares during the period. Institutional investors own 21.11% of the company’s stock.

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.