Brokerages Set Kinetik Holdings Inc. (NYSE:KNTK) PT at $54.67

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%.

Shares of Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) have been given a consensus rating of "Moderate Buy" by the ten brokerages that are currently covering the firm, Marketbeat.com reports. Four investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $54.6667.

Several equities analysts have recently issued reports on KNTK shares. Zacks Research raised shares of Kinetik from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 13th. Mizuho set a $53.00 price target on shares of Kinetik and gave the company an "outperform" rating in a report on Friday, August 29th. Scotiabank reissued an "outperform" rating on shares of Kinetik in a report on Monday, September 8th. Citigroup reissued a "buy" rating on shares of Kinetik in a report on Tuesday, June 10th. Finally, Wall Street Zen lowered shares of Kinetik from a "hold" rating to a "sell" rating in a report on Tuesday, June 17th.

Kinetik Stock Down 2.5%

KNTK stock traded down $1.10 during midday trading on Monday, reaching $43.07. The company's stock had a trading volume of 2,741,135 shares, compared to its average volume of 1,529,415. Kinetik has a 52 week low of $39.25 and a 52 week high of $67.60. The stock has a market cap of $6.97 billion, a PE ratio of 58.20, a price-to-earnings-growth ratio of 1.09 and a beta of 3.16. The business's 50-day simple moving average is $41.86 and its 200-day simple moving average is $44.23.

Kinetik (NYSE:KNTK - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates 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 business earned $0.54 EPS. The company's revenue was up 18.7% on a year-over-year basis.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Friday, July 25th were given a $0.78 dividend. This represents a $3.12 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Friday, July 25th. Kinetik's payout ratio is currently 421.62%.

Institutional Investors Weigh In On Kinetik

Several institutional investors have recently added to or reduced their stakes in KNTK. Bell Investment Advisors Inc bought a new stake in Kinetik in the 1st quarter valued at $41,000. Comerica Bank lifted its position in Kinetik by 32.2% in the 4th quarter. Comerica Bank now owns 800 shares of the company's stock valued at $45,000 after acquiring an additional 195 shares in the last quarter. Chung Wu Investment Group LLC bought a new stake in Kinetik in the 2nd quarter valued at $56,000. Nisa Investment Advisors LLC lifted its position in Kinetik by 141.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,133 shares of the company's stock valued at $59,000 after acquiring an additional 664 shares in the last quarter. Finally, Rossby Financial LCC bought a new stake in Kinetik in the 1st quarter valued at $78,000. 21.11% of the stock is owned by institutional investors.

About Kinetik

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.