Kinetik Holdings Inc. (NASDAQ:KNTK - Free Report) - Equities researchers at US Capital Advisors raised their Q1 2024 EPS estimates for Kinetik in a research note issued on Wednesday, March 20th. US Capital Advisors analyst J. Carreker now forecasts that the company will post earnings of $0.41 per share for the quarter, up from their prior estimate of $0.39. The consensus estimate for Kinetik's current full-year earnings is $1.98 per share. US Capital Advisors also issued estimates for Kinetik's Q2 2024 earnings at $0.45 EPS, Q3 2024 earnings at $0.50 EPS, Q4 2024 earnings at $0.55 EPS, FY2024 earnings at $1.92 EPS, Q1 2025 earnings at $0.51 EPS, Q2 2025 earnings at $0.56 EPS, Q3 2025 earnings at $0.60 EPS, Q4 2025 earnings at $0.66 EPS and FY2026 earnings at $2.60 EPS.
Kinetik (NASDAQ:KNTK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.70 EPS for the quarter, topping analysts' consensus estimates of $0.46 by $1.24. The company had revenue of $348.87 million for the quarter, compared to analyst estimates of $301.49 million. Kinetik had a net margin of 28.57% and a negative return on equity of 49.32%. Kinetik's revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.25 earnings per share.
Several other equities analysts have also issued reports on the stock. Citigroup restated a "neutral" rating and issued a $35.00 target price on shares of Kinetik in a report on Tuesday, December 19th. JPMorgan Chase & Co. upgraded shares of Kinetik from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $38.00 to $40.00 in a report on Friday, March 8th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $39.25.
View Our Latest Research Report on KNTK
Kinetik Trading Down 1.9 %
KNTK stock traded down $0.71 during midday trading on Friday, hitting $37.16. The stock had a trading volume of 1,116,840 shares, compared to its average volume of 557,925. The firm has a market cap of $5.62 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 2.49 and a beta of 2.79. Kinetik has a 1-year low of $26.32 and a 1-year high of $38.09. The business has a fifty day moving average price of $34.13 and a two-hundred day moving average price of $34.44.
Kinetik Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Shareholders of record on Thursday, February 22nd were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 8.07%. The ex-dividend date of this dividend was Wednesday, February 21st. Kinetik's payout ratio is 132.74%.
Insiders Place Their Bets
In other Kinetik news, insider Anne Psencik sold 3,182 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $35.57, for a total value of $113,183.74. Following the completion of the sale, the insider now directly owns 247,128 shares of the company's stock, valued at approximately $8,790,342.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kinetik news, insider Anne Psencik sold 3,182 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $35.57, for a total value of $113,183.74. Following the completion of the sale, the insider now directly owns 247,128 shares of the company's stock, valued at approximately $8,790,342.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Corp Apache sold 13,079,871 shares of the company's stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $33.75, for a total transaction of $441,445,646.25. The disclosure for this sale can be found here. 3.62% of the stock is currently owned by insiders.
Institutional Investors Weigh In On Kinetik
Several large investors have recently modified their holdings of KNTK. UBS Group AG purchased a new stake in shares of Kinetik during the 3rd quarter worth approximately $84,000. Tower Research Capital LLC TRC purchased a new stake in shares of Kinetik during the 3rd quarter worth approximately $37,000. Dimensional Fund Advisors LP purchased a new stake in shares of Kinetik during the 3rd quarter worth approximately $2,099,000. Credit Suisse AG purchased a new stake in shares of Kinetik during the 3rd quarter worth approximately $724,000. Finally, Nuveen Asset Management LLC purchased a new stake in shares of Kinetik during the 3rd quarter worth approximately $2,515,000.
About Kinetik
(
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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.
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