Kinetik Holdings Inc. (NYSE:KNTK) Receives $51.40 Consensus Target Price from Analysts

Shares of Kinetik Holdings Inc. (NYSE:KNTK) have received a consensus recommendation of “Moderate Buy” from the eighteen research firms that are covering the stock, MarketBeat reports. Five equities research analysts have rated the stock with a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $52.8667.

KNTK has been the topic of a number of recent research reports. Citigroup reiterated a “buy” rating and issued a $55.00 price objective (up from $52.00) on shares of Kinetik in a report on Tuesday. Mizuho increased their target price on shares of Kinetik from $48.00 to $51.00 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $51.00 target price on shares of Kinetik in a research report on Friday, May 8th. Scotiabank reiterated an “outperform” rating and issued a $52.00 price target (up from $51.00) on shares of Kinetik in a research note on Tuesday, May 12th. Finally, Truist Financial boosted their price target on shares of Kinetik from $53.00 to $59.00 and gave the stock a “buy” rating in a research report on Wednesday.

More Kinetik News

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Truist raised its price target to $59 from $53 and maintained a “buy” rating. The new target implies approximately 15.2% upside from the referenced share price, signaling confidence in Kinetik’s growth prospects and valuation. Benzinga analyst report
• Neutral Sentiment: Analysts were reported to have set a price target of $51.40, broadly consistent with Kinetik’s recent trading level. This suggests limited near-term upside under that estimate, although it does not represent a rating downgrade. Analysts set Kinetik price target
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 Kinetik shares from August 10 through August 12 for approximately $16.0 million. The fund’s reported position fell from 1,586,346 shares to 1,354,129 shares, a reduction of about 14.6%. Although the sales may reflect portfolio management rather than concerns about Kinetik’s fundamentals, the size and consecutive timing of the disposals could weigh on investor sentiment and create additional supply. SEC insider transaction filing

Insider Buying and Selling at Kinetik

In related news, major shareholder Isq Global Fund Ii Gp Llc sold 235,349 shares of Kinetik stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $50.52, for a total value of $11,889,831.48. Following the sale, the insider owned 1,691,370 shares of the company’s stock, valued at approximately $85,448,012.40. The trade was a 12.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last three months, insiders sold 574,765 shares of company stock valued at $29,363,566. 3.56% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Comerica Bank increased its position in shares of Kinetik by 91.5% during the 1st quarter. Comerica Bank now owns 1,532 shares of the company’s stock worth $80,000 after purchasing an additional 732 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Kinetik by 4.2% in the 1st quarter. AQR Capital Management LLC now owns 12,900 shares of the company’s stock valued at $670,000 after buying an additional 522 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Kinetik by 88.7% in the 1st quarter. Millennium Management LLC now owns 132,533 shares of the company’s stock valued at $6,884,000 after buying an additional 62,306 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Kinetik by 27.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company’s stock valued at $4,131,000 after buying an additional 17,034 shares in the last quarter. Finally, Intech Investment Management LLC grew its stake in shares of Kinetik by 14.3% in the first quarter. Intech Investment Management LLC now owns 22,114 shares of the company’s stock valued at $1,149,000 after buying an additional 2,766 shares in the last quarter. 21.11% of the stock is owned by institutional investors and hedge funds.

Kinetik Stock Performance

Shares of Kinetik stock opened at $51.22 on Thursday. The business’s 50 day simple moving average is $48.64 and its 200 day simple moving average is $46.90. Kinetik has a 52-week low of $31.33 and a 52-week high of $52.69. The firm has a market cap of $8.32 billion, a PE ratio of 18.56, a P/E/G ratio of 1.69 and a beta of 0.56.

Kinetik (NYSE:KNTK) last released its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.19 by $0.45. Kinetik had a negative return on equity of 38.96% and a net margin of 26.19%.The firm had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $421.48 million. During the same quarter in the previous year, the business posted $0.33 EPS. The business’s quarterly revenue was up 36.3% compared to the same quarter last year. As a group, equities research analysts predict that Kinetik will post 0.97 EPS for the current 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.