Kinetik (NYSE:KNTK) Rating Increased to Hold at Zacks Research

Key Points

• Zacks Research upgraded Kinetik from a "strong sell" to a "hold," while analysts overall maintain a consensus Moderate Buy rating with an average target price of $47.25.
• Earnings beat: Kinetik reported EPS of $2.16 vs. a $0.15 consensus and revenue of $430.4M (up 11.5% YoY), with a market cap of $7.89B and a P/E of 18.9.
• Large insider selling: Insiders sold about 4.016 million shares (~$180M) in the past three months, including a 4M‑share sale by Isq Global Fund II, leaving insiders with 3.83% ownership.

Kinetik (NYSE:KNTK - Get Free Report) was upgraded by equities researchers at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Thursday,Zacks.com reports.

Several other equities analysts also recently weighed in on KNTK. Raymond James Financial set a $46.00 target price on Kinetik in a research report on Monday, January 5th. Wolfe Research downgraded shares of Kinetik from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, January 27th. Weiss Ratings reiterated a "hold (c)" rating on shares of Kinetik in a report on Thursday, January 22nd. Jefferies Financial Group cut shares of Kinetik from a "buy" rating to a "hold" rating and set a $43.00 target price on the stock. in a research report on Friday, February 6th. Finally, Citigroup boosted their target price on shares of Kinetik from $46.00 to $51.00 and gave the company a "buy" rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Kinetik presently has an average rating of "Moderate Buy" and a consensus target price of $47.25.

Kinetik Stock Performance

Shares of KNTK opened at $48.64 on Thursday. The stock has a fifty day moving average of $43.49 and a two-hundred day moving average of $39.57. The company has a market capitalization of $7.89 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 1.64 and a beta of 0.70. Kinetik has a fifty-two week low of $31.33 and a fifty-two week high of $54.15.

Kinetik (NYSE:KNTK - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $2.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $2.01. The business had revenue of $430.42 million for the quarter. Kinetik had a negative return on equity of 32.70% and a net margin of 29.23%.Kinetik's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.01 EPS.

Insider Transactions at Kinetik

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 4,000,000 shares of Kinetik stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $44.85, for a total value of $179,400,000.00. Following the transaction, the insider directly owned 1 shares of the company's stock, valued at $44.85. The trade was a 100.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Trevor Howard sold 1,619 shares of the business's stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $46.92, for a total value of $75,963.48. Following the sale, the insider owned 249,795 shares of the company's stock, valued at $11,720,381.40. The trade was a 0.64% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,015,831 shares of company stock worth $180,054,928 in the last three months. 3.83% of the stock is currently owned by insiders.

Institutional Trading of Kinetik

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Chickasaw Capital Management LLC increased its position in shares of Kinetik by 63.9% in the third quarter. Chickasaw Capital Management LLC now owns 1,098,447 shares of the company's stock worth $46,948,000 after acquiring an additional 428,103 shares in the last quarter. Public Sector Pension Investment Board acquired a new position in shares of Kinetik during the 3rd quarter valued at $7,277,000. Principal Financial Group Inc. purchased a new stake in Kinetik during the 3rd quarter worth $9,017,000. Advisors Capital Management LLC boosted its position in Kinetik by 4.3% during the 3rd quarter. Advisors Capital Management LLC now owns 632,387 shares of the company's stock worth $27,028,000 after purchasing an additional 26,103 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH increased its holdings in Kinetik by 90.5% in the 3rd quarter. Fort Washington Investment Advisors Inc. OH now owns 61,695 shares of the company's stock valued at $2,637,000 after purchasing an additional 29,303 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company's stock.

About Kinetik

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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