Kinetik (KNTK) Scheduled to Post Earnings on Wednesday

Kinetik (NASDAQ:KNTK) is scheduled to announce its earnings results after the market closes on Wednesday, November 6th. Analysts expect the company to announce earnings of $0.52 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 released its earnings results on Wednesday, August 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. Kinetik had a net margin of 30.96% and a negative return on equity of 48.16%. The company had revenue of $359.50 million during the quarter, compared to the consensus estimate of $305.94 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue was up 21.4% 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 Stock Down 1.9 %

Kinetik stock opened at $47.76 on Monday. Kinetik has a 12 month low of $31.73 and a 12 month high of $51.97. The stock has a market cap of $7.52 billion, a P/E ratio of 18.58, a P/E/G ratio of 2.29 and a beta of 2.91. The company’s fifty day simple moving average is $46.81 and its 200-day simple moving average is $42.96.

Kinetik Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 7th. Shareholders of record on Monday, October 28th will be paid a $0.78 dividend. The ex-dividend date of this dividend is Monday, October 28th. This represents a $3.12 dividend on an annualized basis and a yield of 6.53%. This is an increase from Kinetik’s previous quarterly dividend of $0.75. Kinetik’s payout ratio is 121.40%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Barclays lifted their price target on Kinetik from $43.00 to $47.00 and gave the company an “equal weight” rating in a report on Monday, October 14th. Mizuho lifted their target price on shares of Kinetik from $47.00 to $55.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada increased their price target on shares of Kinetik from $46.00 to $52.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Kinetik has an average rating of “Moderate Buy” and a consensus price target of $45.71.

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.