Analysts Set Kinetik Holdings Inc. (NYSE:KNTK) PT at $47.25

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have earned a consensus 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 rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $47.25.

A number of research firms have recently commented on KNTK. Barclays boosted their target price on shares of Kinetik from $43.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 19th. Zacks Research raised shares of Kinetik from a “strong sell” rating to a “hold” rating in a research note on Thursday, March 26th. Royal Bank Of Canada boosted their target price on shares of Kinetik from $46.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 10th. Raymond James Financial set a $46.00 target price on shares of Kinetik in a research note on Monday, January 5th. Finally, Scotiabank boosted their target price on shares of Kinetik from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Tuesday, March 17th.

Insider Activity at Kinetik

In other news, insider Steven Stellato sold 2,907 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total transaction of $136,396.44. Following the completion of the sale, the insider owned 393,382 shares of the company’s stock, valued at $18,457,483.44. The trade was a 0.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Trevor Howard sold 1,619 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total transaction of $75,963.48. Following the sale, the insider directly owned 249,795 shares of the company’s stock, valued at $11,720,381.40. This represents a 0.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 4,007,748 shares of company stock worth $179,763,536 over the last three months. Company insiders own 3.83% of the company’s stock.

Institutional Trading of Kinetik

Several large investors have recently bought and sold shares of KNTK. CWM LLC grew its stake in Kinetik by 89.8% during the 4th quarter. CWM LLC now owns 744 shares of the company’s stock valued at $27,000 after acquiring an additional 352 shares in the last quarter. Signaturefd LLC grew its stake in Kinetik by 101.5% during the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after acquiring an additional 404 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in Kinetik during the 4th quarter valued at about $33,000. Los Angeles Capital Management LLC purchased a new stake in Kinetik during the 4th quarter valued at about $40,000. Finally, Huntington National Bank grew its stake 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 acquiring an additional 711 shares in the last quarter. Hedge funds and other institutional investors own 21.11% of the company’s stock.

Kinetik Price Performance

Shares of NYSE:KNTK opened at $47.30 on Friday. Kinetik has a 1 year low of $31.33 and a 1 year high of $49.55. The firm has a market capitalization of $7.67 billion, a price-to-earnings ratio of 18.40, a price-to-earnings-growth ratio of 1.58 and a beta of 0.66. The business’s 50 day moving average price is $44.60 and its 200-day moving average price is $39.73.

Kinetik (NYSE:KNTK) last announced its earnings results on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $430.42 million for the quarter. During the same quarter last year, the business earned $0.01 EPS. The company’s quarterly revenue was up 11.5% on a year-over-year basis.

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.