Kinetik (KNTK) Scheduled to Post Quarterly Earnings on Wednesday

Kinetik (NASDAQ:KNTK) 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. Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Kinetik (NASDAQ:KNTK) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $1.70 EPS for the quarter, topping the consensus estimate of $0.46 by $1.24. Kinetik had a net margin of 28.57% and a negative return on equity of 49.32%. The firm had revenue of $348.87 million for the quarter, compared to the consensus estimate of $301.49 million. During the same period last year, the firm posted $0.25 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. On average, analysts expect Kinetik to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Kinetik Stock Up 0.8 %

Shares of NASDAQ KNTK opened at $38.48 on Tuesday. Kinetik has a 52 week low of $28.82 and a 52 week high of $40.42. The firm’s fifty day moving average is $37.78 and its 200 day moving average is $35.44. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 2.00 and a beta of 2.81.

Kinetik Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 9th. Investors of record on Monday, April 29th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 7.80%. The ex-dividend date of this dividend is Friday, April 26th. Kinetik’s dividend payout ratio (DPR) is currently 132.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on KNTK. Royal Bank of Canada started coverage on shares of Kinetik in a research note on Monday, March 25th. They issued an “outperform” rating and a $40.00 price target on the stock. Mizuho increased their price target on Kinetik from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Barclays assumed coverage on shares of Kinetik in a report on Monday, April 22nd. They issued an “equal weight” rating and a $40.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their price objective on Kinetik from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 17th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

Insider Buying and Selling at Kinetik

In other news, major shareholder Corp Apache sold 13,079,871 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $33.75, for a total transaction of $441,445,646.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder Corp Apache sold 13,079,871 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $33.75, for a total transaction of $441,445,646.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Jamie Welch bought 14,814 shares of Kinetik stock in a transaction that occurred on Monday, March 18th. The stock was purchased at an average price of $33.75 per share, for a total transaction of $499,972.50. Following the acquisition, the insider now directly owns 3,599,225 shares of the company’s stock, valued at approximately $121,473,843.75. The disclosure for this purchase can be found here. Insiders sold a total of 13,095,803 shares of company stock valued at $442,051,135 in the last ninety days. Insiders own 3.71% of the company’s stock.

Kinetik Company Profile

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.