Kinetik (NYSE:KNTK) Stock Rating Upgraded by US Capital Advisors

Key Points

• US Capital Advisors upgraded Kinetik from “moderate buy” to “strong-buy,” while other firms have recently been mixed but generally constructive on the stock. The consensus rating remains “Moderate Buy,” with an average target price of $48.92.
• Kinetik shares were down 1.6% and opened at $45.91, after trading between a 52-week low of $31.33 and high of $51.51. The company has a market cap of about $7.45 billion.
• Recent earnings missed expectations, with Q1 EPS of -$0.07 versus the expected $0.16 and revenue down 7.5% year over year to $409.98 million. The report also noted significant insider selling, including a major shareholder sale of more than 534,000 shares.

Kinetik (NYSE:KNTK - Get Free Report) was upgraded by equities research analysts at US Capital Advisors from a "moderate buy" rating to a "strong-buy" rating in a report issued on Friday,Zacks.com reports.

KNTK has been the subject of a number of other research reports. Wells Fargo & Company raised Kinetik from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $47.00 to $52.00 in a research report on Wednesday, March 25th. Truist Financial assumed coverage on Kinetik in a research report on Tuesday, March 24th. They set a "buy" rating and a $53.00 price objective for the company. UBS Group cut their target price on Kinetik from $49.00 to $48.00 and set a "neutral" rating on the stock in a report on Monday, March 16th. Mizuho raised their target price on Kinetik from $48.00 to $51.00 and gave the company an "outperform" rating in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered Kinetik from a "hold (c)" rating to a "hold (c-)" rating in a report on Monday, May 11th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $48.92.

Kinetik Trading Down 1.6%

KNTK opened at $45.91 on Friday. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 1.91 and a beta of 0.61. Kinetik has a 1 year low of $31.33 and a 1 year high of $51.51. The stock has a fifty day moving average price of $48.03 and a 200 day moving average price of $42.03.

Kinetik (NYSE:KNTK - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.23). The firm had revenue of $409.98 million for the quarter. Kinetik had a net margin of 28.58% and a negative return on equity of 36.36%. The company's revenue was down 7.5% on a year-over-year basis. During the same period last year, the firm posted $0.05 earnings per share. As a group, sell-side analysts forecast that Kinetik will post 0.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Kinetik news, major shareholder Isq Global Fund Ii Gp Llc sold 534,564 shares of the firm's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $50.52, for a total transaction of $27,006,173.28. Following the transaction, the insider directly owned 428,894 shares in the company, valued at $21,667,724.88. This trade represents a 55.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven Stellato sold 2,907 shares of the firm's stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $46.92, for a total value of $136,396.44. Following the transaction, the insider owned 393,382 shares in the company, valued at approximately $18,457,483.44. This trade represents a 0.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,078,855 shares of company stock valued at $53,535,999 in the last three months. 3.56% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Kinetik

A number of institutional investors have recently made changes to their positions in the business. NewEdge Advisors LLC bought a new position in shares of Kinetik in the first quarter worth about $1,981,000. Amundi increased its stake in shares of Kinetik by 48.7% in the first quarter. Amundi now owns 17,645 shares of the company's stock worth $854,000 after purchasing an additional 5,775 shares during the period. California State Teachers Retirement System increased its stake in shares of Kinetik by 31.0% in the first quarter. California State Teachers Retirement System now owns 58,667 shares of the company's stock worth $2,840,000 after purchasing an additional 13,894 shares during the period. Empowered Funds LLC bought a new position in shares of Kinetik in the first quarter worth about $1,432,000. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Kinetik by 6.7% in the first quarter. The Manufacturers Life Insurance Company now owns 74,292 shares of the company's stock worth $3,596,000 after purchasing an additional 4,693 shares during the period. 21.11% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.