Kinetik (KNTK) Scheduled to Post Earnings on Wednesday

Kinetik (NASDAQ:KNTK - Get Free Report) will be issuing its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.46 per share for the quarter. Parties interested in registering for the company's conference call can do so using this link.

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. On average, analysts expect Kinetik to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Kinetik Stock Down 1.3 %

KNTK traded down $0.49 during trading on Wednesday, reaching $37.85. 409,686 shares of the stock traded hands, compared to its average volume of 559,781. The stock has a market capitalization of $5.82 billion, a PE ratio of 16.91, a P/E/G ratio of 2.43 and a beta of 2.80. The stock's 50-day moving average is $37.44 and its 200 day moving average is $35.38. Kinetik has a 12 month low of $26.32 and a 12 month high of $40.42.

Kinetik Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, April 29th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, April 26th. This represents a $3.00 dividend on an annualized basis and a yield of 7.93%. Kinetik's dividend payout ratio (DPR) is currently 132.74%.

Analyst Ratings Changes

KNTK has been the topic of a number of research analyst reports. Mizuho upped their price target on shares of Kinetik from $39.00 to $42.00 and gave the company a "buy" rating in a research report on Tuesday, April 23rd. Royal Bank of Canada initiated coverage on shares of Kinetik in a research report on Monday, March 25th. They set an "outperform" rating and a $40.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Kinetik from $40.00 to $43.00 and gave the company an "overweight" rating in a research report on Wednesday, April 17th. Finally, Barclays assumed coverage on shares of Kinetik in a research report on Monday, April 22nd. They set an "equal weight" rating and a $40.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, Kinetik currently has an average rating of "Hold" and an average target price of $40.00.

Insider Transactions at Kinetik

In related news, major shareholder Corp Apache sold 13,079,871 shares of the company's stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $33.75, for a total value of $441,445,646.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Trevor Howard sold 7,000 shares of the company's stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $37.62, for a total value of $263,340.00. Following the sale, the insider now owns 198,411 shares in the company, valued at approximately $7,464,221.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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. Insiders have sold 13,095,803 shares of company stock valued at $442,051,135 in the last 90 days. 3.71% of the stock is currently owned by corporate insiders.

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.