Kinetik Holdings Inc. (NASDAQ:KNTK) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK) have been given an average recommendation of “Moderate Buy” by the eight ratings firms that are currently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $59.25.

KNTK has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a research note on Monday, January 13th. Wells Fargo & Company raised their target price on shares of Kinetik from $58.00 to $60.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 18th. The Goldman Sachs Group raised their target price on shares of Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on shares of Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Finally, Citigroup raised their target price on shares of Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, December 16th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp bought a new position in Kinetik during the fourth quarter valued at approximately $26,000. Canton Hathaway LLC bought a new position in Kinetik during the fourth quarter valued at approximately $28,000. GAMMA Investing LLC grew its holdings in shares of Kinetik by 72.0% in the fourth quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock worth $29,000 after purchasing an additional 213 shares during the last quarter. Rialto Wealth Management LLC bought a new position in shares of Kinetik in the fourth quarter worth approximately $34,000. Finally, Comerica Bank grew its holdings in shares of Kinetik by 32.2% in the fourth quarter. Comerica Bank now owns 800 shares of the company’s stock worth $45,000 after purchasing an additional 195 shares during the last quarter. 21.11% of the stock is currently owned by institutional investors.

Kinetik Trading Up 2.6 %

Shares of Kinetik stock opened at $58.35 on Thursday. Kinetik has a 12-month low of $33.10 and a 12-month high of $67.60. The company has a market cap of $9.19 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 1.52 and a beta of 2.89. The company’s 50-day moving average price is $61.03 and its 200-day moving average price is $53.89.

Kinetik Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd were given a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend was Monday, February 3rd. Kinetik’s payout ratio is currently 115.13%.

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.