Kinetik Holdings Inc. (NYSE:KNTK) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Kinetik Holdings Inc. has received a consensus rating of “Moderate Buy” from analysts, with six out of ten brokerages recommending it for purchase.
• The company's latest quarterly earnings report showed an EPS of $0.33, significantly exceeding the consensus estimate of $0.14.
• Kinetik declared a quarterly dividend of $0.78, providing an annual yield of 7.1%, although the company's dividend payout ratio stands at an unusually high 421.62%.

Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the ten brokerages that are presently covering the company, Marketbeat Ratings reports. Four analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $54.6667.

A number of equities research analysts have weighed in on the stock. Scotiabank restated an "outperform" rating on shares of Kinetik in a report on Monday, September 8th. Barclays cut their price objective on shares of Kinetik from $49.00 to $43.00 and set an "equal weight" rating on the stock in a report on Monday, July 14th. Mizuho set a $53.00 price objective on shares of Kinetik and gave the stock an "outperform" rating in a report on Friday, August 29th. Wall Street Zen cut shares of Kinetik from a "hold" rating to a "sell" rating in a report on Tuesday, June 17th. Finally, Royal Bank Of Canada cut their price objective on shares of Kinetik from $57.00 to $55.00 and set an "outperform" rating on the stock in a report on Friday, May 30th.

Kinetik Price Performance

Shares of NYSE KNTK opened at $43.79 on Monday. Kinetik has a 1 year low of $39.25 and a 1 year high of $67.60. The company's 50-day moving average is $41.74 and its 200 day moving average is $44.52. The stock has a market capitalization of $7.09 billion, a P/E ratio of 59.18 and a beta of 3.16.

Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.19. Kinetik had a net margin of 8.21% and a negative return on equity of 6.16%. During the same quarter in the previous year, the company earned $0.54 EPS. Kinetik's quarterly revenue was up 18.7% compared to the same quarter last year.

Kinetik Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 25th were issued a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 7.1%. The ex-dividend date was Friday, July 25th. Kinetik's dividend payout ratio is 421.62%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bell Investment Advisors Inc bought a new position in shares of Kinetik in the first quarter worth approximately $41,000. Comerica Bank lifted its stake in shares of Kinetik by 32.2% in the fourth quarter. Comerica Bank now owns 800 shares of the company's stock worth $45,000 after buying an additional 195 shares in the last quarter. Chung Wu Investment Group LLC bought a new position in shares of Kinetik in the second quarter worth approximately $56,000. Nisa Investment Advisors LLC lifted its stake in shares of Kinetik by 141.6% in the first quarter. Nisa Investment Advisors LLC now owns 1,133 shares of the company's stock worth $59,000 after buying an additional 664 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in shares of Kinetik in the first quarter worth approximately $78,000. Institutional investors own 21.11% of the company's stock.

Kinetik Company Profile

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. It provides gathering, transportation, compression, processing, and treating services for companies that produce natural gas, natural gas liquids, crude oil, and water. The company is headquartered in Midland, Texas.

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