Kinetik Holdings Inc. (NYSE:KNTK) Receives $45.82 Average Target Price from Analysts

Kinetik Holdings Inc. (NYSE:KNTK) has been given a consensus rating of “Moderate Buy” by the thirteen ratings firms that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have assigned a buy rating to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $45.8182.

Several brokerages have weighed in on KNTK. Wolfe Research restated an “outperform” rating and set a $42.00 price objective on shares of Kinetik in a research note on Friday, November 7th. Weiss Ratings reissued a “hold (c)” rating on shares of Kinetik in a research report on Wednesday, October 8th. Wall Street Zen cut shares of Kinetik from a “hold” rating to a “sell” rating in a report on Sunday, September 28th. The Goldman Sachs Group reduced their price objective on shares of Kinetik from $46.00 to $40.00 and set a “buy” rating for the company in a research report on Monday, November 17th. Finally, Mizuho set a $48.00 price objective on shares of Kinetik in a research note on Wednesday, October 29th.

Insider Buying and Selling

In other Kinetik news, insider Jamie Welch purchased 8,000 shares of the company’s stock in a transaction that occurred on Monday, November 10th. The shares were acquired at an average cost of $34.57 per share, for a total transaction of $276,560.00. Following the completion of the acquisition, the insider owned 3,687,791 shares of the company’s stock, valued at $127,486,934.87. The trade was a 0.22% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Matthew Wall sold 8,083 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $36.05, for a total value of $291,392.15. Following the completion of the transaction, the insider directly owned 554,738 shares in the company, valued at approximately $19,998,304.90. This represents a 1.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 3.83% of the company’s stock.

Hedge Funds Weigh In On Kinetik

Institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised 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 acquiring an additional 404 shares during the period. Aster Capital Management DIFC Ltd bought a new stake in shares of Kinetik in the 3rd quarter worth approximately $54,000. Advisory Services Network LLC bought a new stake in shares of Kinetik in the 3rd quarter worth approximately $55,000. Chung Wu Investment Group LLC purchased a new position in Kinetik in the second quarter valued at approximately $56,000. Finally, GAMMA Investing LLC grew its holdings in Kinetik by 569.6% during the fourth quarter. GAMMA Investing LLC now owns 1,761 shares of the company’s stock valued at $63,000 after purchasing an additional 1,498 shares during the period. Institutional investors own 21.11% of the company’s stock.

Kinetik Stock Performance

Shares of KNTK opened at $38.71 on Friday. The stock has a 50 day moving average price of $35.45 and a two-hundred day moving average price of $38.85. The firm has a market capitalization of $6.26 billion, a P/E ratio of 92.17, a P/E/G ratio of 0.71 and a beta of 0.73. Kinetik has a 52 week low of $31.33 and a 52 week high of $67.60.

Kinetik (NYSE:KNTK) last posted its earnings results on Wednesday, November 5th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.20). Kinetik had a net margin of 6.70% and a negative return on equity of 5.74%. The company had revenue of $463.97 million during the quarter, compared to the consensus estimate of $604.57 million. During the same quarter in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year.

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.