Kinetik (KNTK) Expected to Announce Earnings on Wednesday

Kinetik (NASDAQ:KNTK - Get Free Report) will likely be posting its earnings data after the market closes on Wednesday, May 7th. Analysts expect Kinetik to post earnings of $0.29 per share and revenue of $466.54 million for the quarter.

Kinetik Trading Down 2.5 %

NASDAQ KNTK traded down $1.03 on Monday, reaching $40.54. The company's stock had a trading volume of 361,879 shares, compared to its average volume of 618,645. The business has a 50-day moving average price of $48.40 and a 200 day moving average price of $54.87. The firm has a market cap of $6.40 billion, a PE ratio of 14.97, a price-to-earnings-growth ratio of 1.52 and a beta of 3.03. Kinetik has a 52 week low of $37.85 and a 52 week high of $67.60.

Kinetik Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Friday, April 25th were paid a dividend of $0.78 per share. The ex-dividend date of this dividend was Friday, April 25th. This represents a $3.12 annualized dividend and a yield of 7.70%. Kinetik's dividend payout ratio is currently 305.88%.

Insiders Place Their Bets

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 1,044,519 shares of the company's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $52.66, for a total value of $55,004,370.54. Following the completion of the sale, the insider now directly owns 657,583 shares of the company's stock, valued at $34,628,320.78. This represents a 61.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 3.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on KNTK. Barclays increased their target price on shares of Kinetik from $57.00 to $58.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 16th. Wells Fargo & Company reduced their target price on Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. Royal Bank of Canada cut their price objective on Kinetik from $67.00 to $63.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Scotiabank decreased their target price on Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Finally, US Capital Advisors raised Kinetik from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $58.56.

About Kinetik

Kinetik Holdings Inc operates as a midstream company in the Texas Delaware Basin. The company operates through two segments, Midstream Logistics and Pipeline Transportation. It provides gathering, transportation, compression, processing, stabilization, treating, storage, and transportation services for companies that produce natural gas, natural gas liquids, and crude oil; and water gathering and disposal services.