Kinetik (KNTK) Projected to Post Quarterly Earnings on Wednesday

Kinetik (NASDAQ:KNTK) is anticipated to post its quarterly earnings results after the market closes on Wednesday, February 26th. Analysts expect the company to announce earnings of $0.45 per share and revenue of $434.63 million for the quarter. Parties interested in registering for the company’s conference call can do so using this link.

Kinetik Stock Performance

Shares of NASDAQ KNTK opened at $58.23 on Tuesday. Kinetik has a 52 week low of $33.10 and a 52 week high of $67.60. The stock has a market capitalization of $9.17 billion, a PE ratio of 21.49, a price-to-earnings-growth ratio of 1.52 and a beta of 2.89. The stock has a 50 day moving average price of $60.94 and a 200 day moving average price of $53.74.

Kinetik Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 12th. Stockholders of record on Monday, February 3rd were paid a dividend of $0.78 per share. This represents a $3.12 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date was Monday, February 3rd. Kinetik’s dividend payout ratio is presently 115.13%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on KNTK shares. Citigroup boosted their price target on Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. JPMorgan Chase & Co. upped their price objective on shares of Kinetik from $63.00 to $65.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 15th. Wells Fargo & Company upped their price target on shares of Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a report on Wednesday, December 18th. Scotiabank reduced their target price on Kinetik from $64.00 to $62.00 and set a “sector outperform” rating on the stock in a report on Tuesday, January 21st. Finally, Barclays lifted their target price on Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, January 13th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $59.25.

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.