Kinetik Holdings Inc. (NASDAQ:KNTK) Receives $59.25 Average PT from Brokerages

Kinetik Holdings Inc. (NASDAQ:KNTK) has been given an average rating of “Moderate Buy” by the eight research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $59.00.

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. increased their price target 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. The Goldman Sachs Group lifted their price target on shares of Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Barclays upped 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. Finally, Citigroup raised their target price on Kinetik from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Monday, December 16th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in KNTK. Harbor Capital Advisors Inc. raised its holdings in shares of Kinetik by 2.0% in the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock valued at $515,000 after buying an additional 174 shares during the period. Comerica Bank grew its position in Kinetik by 32.2% in the 4th quarter. Comerica Bank now owns 800 shares of the company’s stock valued at $45,000 after acquiring an additional 195 shares in the last quarter. GAMMA Investing LLC grew its position in Kinetik by 72.0% in the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after acquiring an additional 213 shares in the last quarter. Private Advisor Group LLC increased its stake in Kinetik by 5.3% during the fourth quarter. Private Advisor Group LLC now owns 8,859 shares of the company’s stock worth $502,000 after purchasing an additional 448 shares during the period. Finally, Fifth Third Bancorp acquired a new stake in shares of Kinetik during the fourth quarter worth about $26,000. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Kinetik Stock Down 1.5 %

Shares of NASDAQ:KNTK opened at $54.04 on Thursday. Kinetik has a 52-week low of $34.27 and a 52-week high of $67.60. The stock has a market cap of $8.51 billion, a P/E ratio of 19.94, a PEG ratio of 1.52 and a beta of 2.89. The business has a fifty day moving average of $61.00 and a two-hundred day moving average of $54.37.

Kinetik Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Shareholders of record on Monday, February 3rd were given a $0.78 dividend. This represents a $3.12 dividend on an annualized basis and a yield of 5.77%. The ex-dividend date 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.