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

Kinetik Holdings Inc. (NYSE:KNTK) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $46.0909.

A number of equities analysts recently commented on KNTK shares. Jefferies Financial Group downgraded Kinetik from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research report on Friday, February 6th. Wolfe Research downgraded Kinetik from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, January 27th. Wells Fargo & Company lifted their price target on Kinetik from $44.00 to $47.00 and gave the stock an “equal weight” rating in a report on Friday. Barclays boosted their price target on shares of Kinetik from $40.00 to $43.00 and gave the company an “equal weight” rating in a research report on Thursday, March 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Kinetik in a research report on Thursday, January 22nd.

Insider Activity

In related news, insider Trevor Howard sold 1,619 shares of the company’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 value of $75,963.48. Following the transaction, the insider directly owned 249,795 shares in the company, valued at approximately $11,720,381.40. This represents a 0.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $44.85, for a total value of $179,400,000.00. Following the completion of the transaction, the insider owned 1 shares of the company’s stock, valued at $44.85. The trade was a 100.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 4,015,831 shares of company stock worth $180,054,928 over the last quarter. 3.83% of the stock is currently owned by corporate insiders.

Institutional Trading of Kinetik

Several institutional investors and hedge funds have recently bought and sold shares of the stock. CWM LLC boosted its stake in Kinetik by 89.8% during the fourth quarter. CWM LLC now owns 744 shares of the company’s stock worth $27,000 after buying an additional 352 shares during the period. Signaturefd LLC increased its holdings in Kinetik by 101.5% in the 4th quarter. Signaturefd LLC now owns 802 shares of the company’s stock valued at $29,000 after purchasing an additional 404 shares during the last quarter. Kestra Advisory Services LLC acquired a new stake in Kinetik in the 4th quarter valued at approximately $33,000. Los Angeles Capital Management LLC purchased a new stake in Kinetik in the fourth quarter valued at approximately $40,000. Finally, Huntington National Bank raised its position in Kinetik by 139.1% in the fourth 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. 21.11% of the stock is currently owned by hedge funds and other institutional investors.

Kinetik Trading Down 0.8%

KNTK opened at $44.79 on Monday. Kinetik has a twelve month low of $31.33 and a twelve month high of $54.94. The firm has a market capitalization of $7.24 billion, a PE ratio of 17.43, a PEG ratio of 1.25 and a beta of 0.70. The firm’s 50-day moving average price is $41.55 and its 200 day moving average price is $39.25.

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

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.