Kinetik (NYSE:KNTK) Upgraded to Strong-Buy at US Capital Advisors

US Capital Advisors upgraded shares of Kinetik (NYSE:KNTK) from a moderate buy rating to a strong-buy rating in a report released on Friday,Zacks.com reports.

KNTK has been the subject of several other research reports. Weiss Ratings downgraded Kinetik from a “hold (c)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Mizuho raised their price target on Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 28th. Wall Street Zen downgraded Kinetik from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 17th. UBS Group dropped their price target on Kinetik from $49.00 to $48.00 and set a “neutral” rating for the company in a research report on Monday, March 16th. Finally, Barclays set a $50.00 price target on Kinetik and gave the stock an “equal weight” rating in a research report on Thursday, May 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.92.

Kinetik Stock Performance

Kinetik stock opened at $45.91 on Friday. The stock has a fifty day moving average of $48.03 and a two-hundred day moving average of $42.03. The company has a market capitalization of $7.45 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.91 and a beta of 0.61. Kinetik has a fifty-two week low of $31.33 and a fifty-two week high of $51.51.

Kinetik (NYSE:KNTK) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.23). The company had revenue of $409.98 million for the quarter. Kinetik had a negative return on equity of 36.36% and a net margin of 28.58%.The business’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. On average, analysts forecast that Kinetik will post 0.78 EPS for the current fiscal year.

Insider Transactions at Kinetik

In related news, insider Trevor Howard sold 1,619 shares of Kinetik stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $75,963.48. Following the transaction, the insider owned 249,795 shares in the company, valued at approximately $11,720,381.40. This trade represents a 0.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of Kinetik stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $50.52, for a total value of $27,006,173.28. Following the completion of the transaction, the insider owned 428,894 shares in the company, valued at $21,667,724.88. The trade was a 55.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,078,855 shares of company stock worth $53,535,999 over the last ninety days. 3.56% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board acquired a new position in Kinetik in the third quarter valued at $7,277,000. Principal Financial Group Inc. acquired a new position in shares of Kinetik during the third quarter worth about $9,017,000. Advisors Capital Management LLC lifted its stake in shares of Kinetik by 4.3% during the third quarter. Advisors Capital Management LLC now owns 632,387 shares of the company’s stock worth $27,028,000 after purchasing an additional 26,103 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Kinetik during the third quarter worth about $1,606,000. Finally, Vanguard Group Inc. lifted its stake in shares of Kinetik by 9.4% during the fourth quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock worth $183,739,000 after purchasing an additional 439,586 shares in the last quarter. Institutional investors and hedge funds 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.