Kinetik Holdings Inc. (NASDAQ:KNTK) Receives $59.25 Consensus Price Target from Analysts

Shares of Kinetik Holdings Inc. (NASDAQ:KNTK) have been assigned a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $59.00.

KNTK has been the topic of several research analyst reports. The Goldman Sachs Group upped their price objective on shares of Kinetik from $46.00 to $61.00 and gave the stock 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. Citigroup raised their price target on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Monday, December 16th. Wells Fargo & Company lowered their target price on shares of Kinetik from $60.00 to $58.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Barclays lifted their price objective on Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, January 13th.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Versor Investments LP bought a new position in Kinetik during the third quarter worth about $543,000. Barclays PLC increased its stake in Kinetik by 34.5% during the 3rd quarter. Barclays PLC now owns 234,286 shares of the company’s stock worth $10,603,000 after acquiring an additional 60,058 shares during the period. Principal Financial Group Inc. acquired a new position in Kinetik in the third quarter valued at about $921,000. Allspring Global Investments Holdings LLC raised its position in shares of Kinetik by 14,124.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 13,940 shares of the company’s stock valued at $820,000 after buying an additional 13,842 shares in the last quarter. Finally, Eos Management L.P. raised its position in Kinetik by 84.9% during the third quarter. Eos Management L.P. now owns 27,000 shares of the company’s stock valued at $1,222,000 after purchasing an additional 12,400 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.

Kinetik Price Performance

Shares of KNTK stock opened at $56.79 on Thursday. The stock’s fifty day simple moving average is $61.07 and its 200 day simple moving average is $54.20. Kinetik has a one year low of $34.27 and a one year high of $67.60. The firm has a market cap of $8.95 billion, a price-to-earnings ratio of 20.96, a P/E/G ratio of 1.52 and a beta of 2.89.

Kinetik Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd were issued a $0.78 dividend. This represents a $3.12 annualized dividend and a dividend yield of 5.49%. The ex-dividend date of this dividend was Monday, February 3rd. Kinetik’s payout ratio is 305.88%.

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.