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Kinetik Holdings Inc. (NASDAQ:KNTK – Get Free Report)’s share price reached a new 52-week high during trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $63.00 to $65.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Kinetik traded as high as $63.34 and last traded at $62.66, with a volume of 18946 shares traded. The stock had previously closed at $61.92.
Other equities analysts also recently issued reports about the company. Barclays raised their price objective on Kinetik from $47.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday. Mizuho raised their price objective on Kinetik from $47.00 to $55.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Royal Bank of Canada raised their target price on Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. The Goldman Sachs Group raised their target price on Kinetik from $46.00 to $61.00 and gave the company a “buy” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company raised their target price on Kinetik from $58.00 to $60.00 and gave the company an “equal weight” rating in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $59.50.
View Our Latest Stock Analysis on Kinetik
Institutional Investors Weigh In On Kinetik
A number of hedge funds have recently bought and sold shares of the business. Ballentine Partners LLC acquired a new stake in Kinetik during the 4th quarter valued at approximately $212,000. Diversify Advisory Services LLC acquired a new stake in Kinetik during the 4th quarter valued at approximately $269,000. Harbor Capital Advisors Inc. grew its stake in Kinetik by 2.0% during the 4th quarter. Harbor Capital Advisors Inc. now owns 9,088 shares of the company’s stock valued at $515,000 after purchasing an additional 174 shares in the last quarter. GAMMA Investing LLC grew its stake in Kinetik by 72.0% during the 4th quarter. GAMMA Investing LLC now owns 509 shares of the company’s stock valued at $29,000 after purchasing an additional 213 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Kinetik by 53.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 157,858 shares of the company’s stock valued at $7,145,000 after purchasing an additional 55,050 shares in the last quarter. Institutional investors and hedge funds own 21.11% of the company’s stock.
Kinetik Trading Up 3.8 %
The business has a 50 day simple moving average of $58.27 and a two-hundred day simple moving average of $49.68. The stock has a market cap of $10.19 billion, a price-to-earnings ratio of 23.87, a price-to-earnings-growth ratio of 1.67 and a beta of 2.91.
Kinetik (NASDAQ:KNTK – Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.10). The business had revenue of $396.40 million for the quarter, compared to analyst estimates of $331.21 million. Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. Kinetik’s revenue for the quarter was up 20.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.21 EPS. Research analysts anticipate that Kinetik Holdings Inc. will post 1.35 EPS for the current fiscal year.
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.
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