Kinetik Holdings Inc. (NASDAQ:KNTK - Get Free Report) insider Matthew Wall sold 5,750 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $39.82, for a total transaction of $228,965.00. Following the completion of the sale, the insider now owns 530,066 shares of the company's stock, valued at approximately $21,107,228.12. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Kinetik Stock Up 1.4 %
Shares of KNTK stock opened at $39.87 on Friday. Kinetik Holdings Inc. has a 52 week low of $26.32 and a 52 week high of $40.42. The stock has a market capitalization of $6.03 billion, a PE ratio of 17.64, a P/E/G ratio of 2.62 and a beta of 2.79. The firm has a 50 day moving average of $34.77 and a two-hundred day moving average of $34.62.
Kinetik (NASDAQ:KNTK - Get Free Report) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.70 EPS for the quarter, beating the consensus estimate of $0.46 by $1.24. The company had revenue of $348.87 million during the quarter, compared to analysts' expectations of $301.49 million. Kinetik had a net margin of 28.57% and a negative return on equity of 49.32%. The firm's revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.25 EPS. Analysts expect that Kinetik Holdings Inc. will post 2.01 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 7th. Stockholders of record on Thursday, February 22nd were given a dividend of $0.75 per share. The ex-dividend date of this dividend was Wednesday, February 21st. This represents a $3.00 annualized dividend and a dividend yield of 7.52%. Kinetik's dividend payout ratio (DPR) is currently 132.74%.
Institutional Investors Weigh In On Kinetik
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Kinetik by 28.2% during the 4th quarter. Vanguard Group Inc. now owns 2,180,143 shares of the company's stock worth $72,817,000 after purchasing an additional 479,325 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Kinetik by 5.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 83,212 shares of the company's stock worth $2,779,000 after purchasing an additional 4,461 shares during the last quarter. American International Group Inc. lifted its position in shares of Kinetik by 5.5% during the 4th quarter. American International Group Inc. now owns 9,050 shares of the company's stock worth $302,000 after purchasing an additional 474 shares during the last quarter. Virtu Financial LLC purchased a new stake in Kinetik in the fourth quarter valued at $223,000. Finally, Legal & General Group Plc lifted its position in Kinetik by 13.1% in the fourth quarter. Legal & General Group Plc now owns 17,319 shares of the company's stock valued at $578,000 after acquiring an additional 2,004 shares during the last quarter. 21.11% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research firms have commented on KNTK. JPMorgan Chase & Co. upgraded shares of Kinetik from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $38.00 to $40.00 in a report on Friday, March 8th. Citigroup restated a "neutral" rating and set a $35.00 price target on shares of Kinetik in a report on Tuesday, December 19th. Finally, Royal Bank of Canada initiated coverage on shares of Kinetik in a report on Monday, March 25th. They issued an "outperform" rating and a $40.00 target price for the company. Seven analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Kinetik presently has a consensus rating of "Hold" and an average target price of $39.33.
Check Out Our Latest Research Report on Kinetik
About Kinetik
(
Get Free Report)
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.
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