Kinetik Holdings Inc. (NASDAQ:KNTK) Given Consensus Rating of “Moderate Buy” by Analysts

Kinetik Holdings Inc. (NASDAQ:KNTK) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $59.63.

A number of research analysts recently commented on KNTK shares. Royal Bank of Canada lowered their price target on shares of Kinetik from $67.00 to $63.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Barclays dropped their target price on Kinetik from $61.00 to $57.00 and set an “equal weight” rating for the company in a report on Thursday, March 6th. JPMorgan Chase & Co. increased their price target on Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. Wells Fargo & Company cut their price objective on shares of Kinetik from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research report on Friday, February 28th. Finally, Scotiabank reduced their target price on shares of Kinetik from $62.00 to $60.00 and set a “sector outperform” rating on the stock in a research note on Thursday, March 6th.

Insider Activity

In other news, major shareholder Isq Global Fund Ii Gp Llc sold 3,952,431 shares of Kinetik stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $55.63, for a total transaction of $219,873,736.53. Following the completion of the sale, the insider now owns 1,044,520 shares of the company’s stock, valued at approximately $58,106,647.60. The trade was a 79.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 3.71% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Bancorp purchased a new stake in shares of Kinetik in the 4th quarter worth $26,000. Canton Hathaway LLC purchased a new stake in Kinetik in the fourth quarter worth about $28,000. GAMMA Investing LLC grew its holdings in Kinetik by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock worth $29,000 after acquiring an additional 213 shares in the last quarter. Rialto Wealth Management LLC purchased a new position in Kinetik during the 4th quarter valued at about $34,000. Finally, Comerica Bank raised its holdings in shares of Kinetik by 32.2% in the 4th quarter. Comerica Bank now owns 800 shares of the company’s stock valued at $45,000 after purchasing an additional 195 shares in the last quarter. Institutional investors own 21.11% of the company’s stock.

Kinetik Stock Down 0.7 %

Kinetik stock opened at $51.11 on Monday. Kinetik has a 52-week low of $37.65 and a 52-week high of $67.60. The company has a market cap of $8.06 billion, a price-to-earnings ratio of 18.86, a PEG ratio of 1.52 and a beta of 2.85. The firm’s fifty day moving average is $58.43 and its 200 day moving average is $55.33.

Kinetik Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd were given a dividend of $0.78 per share. The ex-dividend date was Monday, February 3rd. This represents a $3.12 annualized dividend and a dividend yield of 6.10%. Kinetik’s dividend payout ratio (DPR) is 305.88%.

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.