Kinetik (KNTK) to Release Quarterly Earnings on Wednesday

Kinetik (NASDAQ:KNTK - Get Free Report) will likely be posting its quarterly earnings results 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 Price Performance

Shares of NASDAQ KNTK traded up $0.36 during mid-day trading on Friday, hitting $41.46. The company had a trading volume of 1,009,218 shares, compared to its average volume of 618,436. The stock has a market cap of $6.54 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.52 and a beta of 2.68. The firm's 50 day simple moving average is $48.40 and its two-hundred day simple moving average is $54.80. Kinetik has a 12 month low of $37.85 and a 12 month high of $67.60.

Kinetik Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 2nd. Shareholders of record on Friday, April 25th were paid a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 7.53%. The ex-dividend date was Friday, April 25th. Kinetik's payout ratio is 305.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on KNTK. US Capital Advisors upgraded shares of Kinetik from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Wells Fargo & Company cut their price target on Kinetik from $60.00 to $58.00 and set an "equal weight" rating on the stock in a report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on Kinetik from $63.00 to $65.00 and gave the stock an "overweight" rating in a report on Wednesday, January 15th. Barclays lifted their target price on Kinetik from $57.00 to $58.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 16th. Finally, Scotiabank lowered their price target on Kinetik from $62.00 to $60.00 and set a "sector outperform" rating on the stock in a report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.56.

Insider Activity at Kinetik

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

Kinetik Company Profile

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.