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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Kinetik, with 10 buy, three strong-buy and five hold ratings among 18 firms. The average 12-month price target is $51.40, implying upside from the $48.26 share price.
• Kinetik reported quarterly EPS of $0.64, beating the $0.19 consensus estimate, while revenue increased 36.3% year over year. Analysts collectively expect full-year EPS of $0.81.
• Several institutional investors increased their holdings during the first quarter, and institutional investors now own 21.11% of Kinetik. The stock remains near its 12-month high of $52.54, with a market capitalization of approximately $7.84 billion.

Shares of Kinetik Holdings Inc. (NYSE:KNTK - Get Free Report) have received a consensus rating of "Moderate Buy" from the eighteen ratings firms that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating, ten have given a buy rating and three have given a strong buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $51.40.

Several analysts recently commented on the company. Wall Street Zen cut Kinetik from a "sell" rating to a "strong sell" rating in a research report on Sunday, May 17th. Scotiabank restated an "outperform" rating and issued a $52.00 price objective (up from $51.00) on shares of Kinetik in a report on Tuesday, May 12th. Tudor Pickering began coverage on shares of Kinetik in a research note on Monday, July 20th. They set a "buy" rating and a $57.00 target price on the stock. US Capital Advisors upgraded shares of Kinetik from a "moderate buy" rating to a "strong-buy" rating in a research report on Friday, May 29th. Finally, Barclays set a $50.00 price target on shares of Kinetik and gave the stock an "equal weight" rating in a research note on Thursday, May 14th.

Hedge Funds Weigh In On Kinetik

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KNTK. Comerica Bank raised its holdings 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 acquiring an additional 732 shares during the period. AQR Capital Management LLC raised its stake in Kinetik by 4.2% during the first quarter. AQR Capital Management LLC now owns 12,900 shares of the company's stock worth $670,000 after purchasing an additional 522 shares during the period. Millennium Management LLC grew its stake 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 period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Kinetik by 27.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 79,532 shares of the company's stock worth $4,131,000 after buying an additional 17,034 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of Kinetik by 14.3% during the 1st 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 during the period. Institutional investors and hedge funds own 21.11% of the company's stock.

Kinetik Trading Down 0.9%

KNTK stock opened at $48.26 on Thursday. Kinetik has a 12-month low of $31.33 and a 12-month high of $52.54. The business's 50-day moving average is $48.18 and its 200 day moving average is $46.49. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 19.70, a PEG ratio of 1.92 and a beta of 0.56.

Kinetik (NYSE:KNTK - Get Free Report) last announced its earnings results on Wednesday, August 5th. The company reported $0.64 EPS for the quarter, beating analysts' consensus estimates of $0.19 by $0.45. Kinetik had a negative return on equity of 36.36% and a net margin of 28.58%.The firm's revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 earnings per share. As a group, equities analysts forecast that Kinetik will post 0.81 EPS for the current fiscal 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.

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