Kinetik (NYSE:KNTK) Director Deborah Byers Sells 2,739 Shares

Kinetik Holdings Inc. (NYSE:KNTK) Director Deborah Byers sold 2,739 shares of the business’s stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $51.51, for a total value of $141,085.89. Following the completion of the sale, the director owned 24,389 shares of the company’s stock, valued at $1,256,277.39. This trade represents a 10.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Kinetik Price Performance

Shares of KNTK opened at $51.63 on Friday. The stock has a market capitalization of $8.38 billion, a PE ratio of 18.71, a price-to-earnings-growth ratio of 1.69 and a beta of 0.56. The business’s fifty day moving average price is $48.76 and its 200 day moving average price is $46.99. Kinetik Holdings Inc. has a 12-month low of $31.33 and a 12-month high of $52.69.

Kinetik (NYSE:KNTK) last issued its earnings results on Wednesday, August 5th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.45. Kinetik had a net margin of 26.19% and a negative return on equity of 38.96%. The company had revenue of $581.44 million for the quarter, compared to analysts’ expectations of $421.48 million. During the same period in the prior year, the company earned $0.33 earnings per share. The firm’s revenue was up 36.3% compared to the same quarter last year. As a group, research analysts anticipate that Kinetik Holdings Inc. will post 0.97 earnings per share for the current fiscal year.

Institutional Trading of Kinetik

Several large investors have recently added to or reduced their stakes in the business. Miller Howard Investments Inc. NY boosted its stake in Kinetik by 69.4% during the 1st quarter. Miller Howard Investments Inc. NY now owns 146,317 shares of the company’s stock valued at $7,083,000 after purchasing an additional 59,942 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Kinetik by 9.4% in the 4th quarter. Vanguard Group Inc. now owns 5,096,786 shares of the company’s stock worth $183,739,000 after buying an additional 439,586 shares in the last quarter. Infrastructure Capital Advisors LLC bought a new stake in shares of Kinetik in the 4th quarter worth $9,323,000. HighTower Advisors LLC lifted its holdings in shares of Kinetik by 33.1% in the fourth quarter. HighTower Advisors LLC now owns 102,906 shares of the company’s stock valued at $3,710,000 after buying an additional 25,574 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of Kinetik by 33.0% in the fourth quarter. Jennison Associates LLC now owns 270,126 shares of the company’s stock valued at $9,738,000 after buying an additional 66,992 shares during the period. 21.11% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on KNTK. US Capital Advisors raised Kinetik from a “moderate buy” rating to a “strong-buy” rating in a report on Friday, May 29th. Scotiabank reaffirmed an “outperform” rating and issued a $52.00 target price (up from $51.00) on shares of Kinetik in a research report on Tuesday, May 12th. Morgan Stanley set a $64.00 target price on Kinetik and gave the company an “overweight” rating in a research note on Wednesday, July 29th. Truist Financial boosted their price target on shares of Kinetik from $53.00 to $59.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Citigroup restated a “buy” rating and set a $55.00 price target (up from $52.00) on shares of Kinetik in a research report on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $52.87.

Key Kinetik News

Here are the key news stories impacting Kinetik this week:

• Positive Sentiment: Truist raised its Kinetik price target to $59 from $53 and maintained a “buy” rating. The higher target implies meaningful upside from recent trading levels and signals increased confidence in the company’s outlook. Benzinga analyst report
• Positive Sentiment: Kinetik received a rating upgrade in a recent Seeking Alpha analysis. The report said factors affecting upstream activity are likely to dominate the company’s performance, providing a more constructive view of its growth and operating prospects. Seeking Alpha Kinetik analysis
• Neutral Sentiment: Kinetik’s latest quarterly results remain a favorable fundamental backdrop: revenue increased 36.3% year over year to $581.44 million, while adjusted earnings of $0.64 per share exceeded the $0.19 consensus estimate. However, this information was previously reported and may already be reflected in the stock’s valuation.
• Negative Sentiment: Major shareholder ISQ Global Fund II GP LLC sold 310,691 shares between August 10 and August 12 for approximately $16.0 million. The repeated sales reduce the fund’s position and could pressure the stock by adding share supply or raising concerns about near-term insider conviction. SEC shareholder transaction filing
• Negative Sentiment: Director Deborah L. Byers sold 2,739 shares at an average price of $51.51, reducing her holdings by about 10%. The sale is relatively modest but adds to the recent pattern of insider disposals. SEC director transaction filing

Kinetik Company Profile

Kinetik (NYSE: KNTK) is a publicly listed midstream energy company focused on the development, operation and management of natural gas infrastructure across the United States. The company’s core business activities include the gathering, compression, processing, storage and transportation of natural gas, serving producers, utilities and industrial consumers. By integrating a suite of midstream services under a single platform, Kinetik aims to provide efficient, cost-effective and reliable solutions across the natural gas value chain.

The company was established in 2021 when assets were acquired from Talen Energy by a subsidiary of ArcLight Capital Partners, forming a comprehensive portfolio of pipelines, compression facilities and underground storage assets.