Kinetik (NASDAQ:KNTK) PT Raised to $55.00

Kinetik (NASDAQ:KNTK) had its price objective raised by equities researchers at Mizuho from $47.00 to $55.00 in a research report issued on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 10.80% from the stock’s previous close.

Several other equities research analysts also recently issued reports on KNTK. Barclays raised their price objective on shares of Kinetik from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, October 14th. Royal Bank of Canada lifted their price target on Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Finally, Scotiabank upped their price objective on Kinetik from $42.00 to $48.00 and gave the company a “sector outperform” rating in a report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Kinetik presently has an average rating of “Moderate Buy” and a consensus price target of $45.71.

Kinetik Trading Down 3.8 %

KNTK stock opened at $49.64 on Thursday. Kinetik has a 1-year low of $31.73 and a 1-year high of $51.97. The business’s 50 day simple moving average is $46.26 and its 200 day simple moving average is $42.59. The firm has a market capitalization of $7.82 billion, a PE ratio of 19.32, a PEG ratio of 2.38 and a beta of 2.91.

Kinetik (NASDAQ:KNTK) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.43 by $0.11. The firm had revenue of $359.50 million for the quarter, compared to the consensus estimate of $305.94 million. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The company’s quarterly revenue was up 21.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.41 earnings per share. As a group, sell-side analysts predict that Kinetik will post 1.44 EPS for the current fiscal year.

Institutional Investors Weigh In On Kinetik

Several institutional investors and hedge funds have recently bought and sold shares of the company. Blackstone Inc. lifted its holdings in shares of Kinetik by 13.8% during the 1st quarter. Blackstone Inc. now owns 11,913,154 shares of the company’s stock worth $474,977,000 after acquiring an additional 1,442,653 shares during the period. Vanguard Group Inc. lifted its stake in Kinetik by 52.0% during the first quarter. Vanguard Group Inc. now owns 3,314,713 shares of the company’s stock worth $132,158,000 after purchasing an additional 1,134,570 shares during the last quarter. Westwood Holdings Group Inc. raised its holdings in shares of Kinetik by 148.3% during the 1st quarter. Westwood Holdings Group Inc. now owns 2,348,540 shares of the company’s stock worth $93,636,000 after buying an additional 1,402,751 shares in the last quarter. Kayne Anderson Capital Advisors LP lifted its position in shares of Kinetik by 1,992.8% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 1,164,974 shares of the company’s stock worth $46,448,000 after buying an additional 1,109,308 shares during the last quarter. Finally, Yaupon Capital Management LP acquired a new stake in Kinetik in the first quarter valued at about $30,867,000. Institutional investors own 21.11% 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.