Kinetik (KNTK) to Release Earnings on Wednesday

Kinetik (NASDAQ:KNTK) is set to issue its quarterly earnings data after the market closes on Wednesday, May 8th. Analysts expect the company to announce earnings of $0.46 per share for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Kinetik (NASDAQ:KNTK) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $1.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $1.24. Kinetik had a negative return on equity of 49.32% and a net margin of 28.57%. The firm had revenue of $348.87 million for the quarter, compared to analysts’ expectations of $301.49 million. During the same quarter last year, the business posted $0.25 EPS. Kinetik’s revenue was up 18.1% on a year-over-year basis. On average, analysts expect Kinetik to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Kinetik Price Performance

NASDAQ:KNTK opened at $38.36 on Wednesday. Kinetik has a fifty-two week low of $26.32 and a fifty-two week high of $40.42. The stock’s 50-day moving average is $37.35 and its two-hundred day moving average is $35.36. The stock has a market cap of $5.89 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 2.43 and a beta of 2.80.

Kinetik Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Monday, April 29th will be paid a dividend of $0.75 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $3.00 annualized dividend and a yield of 7.82%. Kinetik’s dividend payout ratio (DPR) is presently 132.74%.

Wall Street Analyst Weigh In

Several research firms have weighed in on KNTK. JPMorgan Chase & Co. lifted their target price on Kinetik from $40.00 to $43.00 and gave the company an “overweight” rating in a research note on Wednesday, April 17th. Barclays started coverage on Kinetik in a report on Monday, April 22nd. They set an “equal weight” rating and a $40.00 price target for the company. Royal Bank of Canada started coverage on Kinetik in a report on Monday, March 25th. They set an “outperform” rating and a $40.00 price target for the company. Finally, Mizuho lifted their price target on Kinetik from $39.00 to $42.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $40.00.

Insider Buying and Selling

In other news, insider Matthew Wall sold 5,750 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $39.82, for a total transaction of $228,965.00. Following the completion of the transaction, the insider now directly owns 530,066 shares in the company, valued at $21,107,228.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Matthew Wall sold 5,750 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $39.82, for a total transaction of $228,965.00. Following the completion of the transaction, the insider now directly owns 530,066 shares in the company, valued at $21,107,228.12. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Jamie Welch purchased 14,814 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were acquired at an average price of $33.75 per share, with a total value of $499,972.50. Following the completion of the acquisition, the insider now owns 3,599,225 shares of the company’s stock, valued at $121,473,843.75. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 13,095,803 shares of company stock worth $442,051,135. 3.71% of the stock is currently owned by insiders.

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.