Kinetik (KNTK) Set to Announce Earnings on Wednesday

Kinetik (NASDAQ:KNTK) will announce its earnings results after the market closes on Wednesday, August 7th. Analysts expect the company to announce earnings of $0.43 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Kinetik (NASDAQ:KNTK) last issued its earnings results on Wednesday, May 8th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.32). Kinetik had a negative return on equity of 48.03% and a net margin of 29.62%. The company had revenue of $341.39 million for the quarter, compared to the consensus estimate of $277.52 million. During the same period in the prior year, the company earned ($0.06) earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year. On average, analysts expect Kinetik to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Kinetik Trading Down 4.2 %

Shares of NASDAQ KNTK opened at $38.59 on Tuesday. The firm has a market capitalization of $5.93 billion, a P/E ratio of 15.82, a P/E/G ratio of 2.58 and a beta of 2.96. The firm’s 50-day moving average price is $41.42 and its 200-day moving average price is $38.41. Kinetik has a 1-year low of $31.31 and a 1-year high of $45.27.

Kinetik Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Monday, July 29th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 7.77%. The ex-dividend date of this dividend is Monday, July 29th. Kinetik’s dividend payout ratio (DPR) is currently 122.95%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Wells Fargo & Company upped their target price on Kinetik from $37.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 14th. Barclays reaffirmed an “equal weight” rating and issued a $43.00 price objective on shares of Kinetik in a research note on Wednesday, July 10th. Mizuho boosted their target price on shares of Kinetik from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. raised their price target on shares of Kinetik from $40.00 to $43.00 and gave the company an “overweight” rating in a research report on Wednesday, April 17th. Finally, Scotiabank boosted their price objective on Kinetik from $42.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Kinetik presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.25.

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.