US Capital Advisors Equities Analysts Boost Earnings Estimates for Kinetik Holdings Inc. (NASDAQ:KNTK)

Kinetik Holdings Inc. (NASDAQ:KNTKFree Report) – Research analysts at US Capital Advisors upped their FY2023 earnings per share (EPS) estimates for Kinetik in a note issued to investors on Monday, January 29th. US Capital Advisors analyst J. Carreker now expects that the company will earn $1.28 per share for the year, up from their prior estimate of $1.27. The consensus estimate for Kinetik’s current full-year earnings is $1.30 per share. US Capital Advisors also issued estimates for Kinetik’s Q4 2023 earnings at $0.46 EPS and FY2025 earnings at $2.26 EPS.

Several other research firms also recently commented on KNTK. Citigroup restated a “neutral” rating and set a $35.00 target price on shares of Kinetik in a research report on Tuesday, December 19th. The Goldman Sachs Group initiated coverage on shares of Kinetik in a research note on Thursday, October 5th. They issued a “buy” rating and a $39.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $39.14.

Read Our Latest Analysis on KNTK

Kinetik Stock Down 3.0 %

Shares of KNTK opened at $32.54 on Thursday. Kinetik has a 12 month low of $26.32 and a 12 month high of $37.17. The stock has a market cap of $4.84 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 0.92 and a beta of 2.69. The company has a 50-day moving average price of $33.86 and a two-hundred day moving average price of $34.70.

Kinetik (NASDAQ:KNTKGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.28). The business had revenue of $330.30 million for the quarter, compared to the consensus estimate of $299.26 million. Kinetik had a negative return on equity of 13.30% and a net margin of 8.90%. Kinetik’s revenue was up 1.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.04 earnings per share.

Kinetik Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 7th. Investors of record on Thursday, February 22nd will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Wednesday, February 21st. This represents a $3.00 annualized dividend and a yield of 9.22%. Kinetik’s dividend payout ratio (DPR) is 370.37%.

Insiders Place Their Bets

In related news, insider Jamie Welch bought 31,746 shares of the company’s stock in a transaction on Thursday, December 14th. The stock was bought at an average cost of $31.50 per share, with a total value of $999,999.00. Following the completion of the purchase, the insider now owns 3,458,380 shares in the company, valued at approximately $108,938,970. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Jamie Welch acquired 31,746 shares of the firm’s stock in a transaction on Thursday, December 14th. The shares were purchased at an average cost of $31.50 per share, for a total transaction of $999,999.00. Following the transaction, the insider now owns 3,458,380 shares of the company’s stock, valued at $108,938,970. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Corp Apache sold 7,475,000 shares of the business’s stock in a transaction on Thursday, December 14th. The stock was sold at an average price of $31.50, for a total value of $235,462,500.00. Following the sale, the insider now owns 13,079,871 shares of the company’s stock, valued at approximately $412,015,936.50. The disclosure for this sale can be found here. Insiders own 3.62% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Aveo Capital Partners LLC raised its stake in shares of Kinetik by 5.6% during the second quarter. Aveo Capital Partners LLC now owns 12,077 shares of the company’s stock worth $424,000 after buying an additional 642 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Kinetik by 10.5% in the 4th quarter. Legal & General Group Plc now owns 6,770 shares of the company’s stock valued at $224,000 after purchasing an additional 642 shares during the period. Toroso Investments LLC lifted its stake in shares of Kinetik by 9.3% in the 3rd quarter. Toroso Investments LLC now owns 7,897 shares of the company’s stock valued at $267,000 after purchasing an additional 669 shares during the period. Van ECK Associates Corp grew its stake in shares of Kinetik by 12.4% during the second quarter. Van ECK Associates Corp now owns 7,614 shares of the company’s stock worth $268,000 after purchasing an additional 837 shares during the period. Finally, Ensign Peak Advisors Inc bought a new stake in Kinetik in the third quarter valued at about $31,000.

About Kinetik

(Get Free Report)

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.

Further Reading

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