Kinetik Holdings Inc. (KNTK) to Issue Quarterly Dividend of $0.78 on February 12th

Kinetik Holdings Inc. (NASDAQ:KNTK) declared a quarterly dividend on Wednesday, January 22nd,RTT News reports. Stockholders of record on Monday, February 3rd will be given a dividend of 0.78 per share on Wednesday, February 12th. This represents a $3.12 annualized dividend and a dividend yield of 4.73%. The ex-dividend date is Monday, February 3rd.

Kinetik has increased its dividend by an average of 0.3% per year over the last three years. Kinetik has a payout ratio of 122.4% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Kinetik to earn $2.45 per share next year, which means the company may not be able to cover its $3.12 annual dividend with an expected future payout ratio of 127.3%.

Kinetik Price Performance

Shares of NASDAQ:KNTK opened at $65.93 on Friday. The stock’s 50 day moving average price is $59.15 and its 200 day moving average price is $50.48. Kinetik has a 12 month low of $31.73 and a 12 month high of $67.60. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of 24.06, a PEG ratio of 1.80 and a beta of 2.91.

Kinetik (NASDAQ:KNTK) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.45 by ($0.10). Kinetik had a net margin of 30.25% and a negative return on equity of 39.48%. The business had revenue of $396.40 million for the quarter, compared to the consensus estimate of $331.21 million. During the same quarter last year, the business posted $0.21 EPS. The business’s revenue for the quarter was up 20.0% on a year-over-year basis. On average, sell-side analysts expect that Kinetik will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price target on Kinetik from $47.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, January 13th. JPMorgan Chase & Co. upped their price objective on shares of Kinetik from $63.00 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Royal Bank of Canada boosted their price target on shares of Kinetik from $46.00 to $52.00 and gave the company an “outperform” rating in a report on Wednesday, October 16th. Wells Fargo & Company raised their price objective on shares of Kinetik from $58.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 18th. Finally, Citigroup boosted their target price on shares of Kinetik from $54.00 to $58.00 and gave the company a “neutral” rating in a research note on Monday, December 16th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $59.25.

Kinetik Company Profile

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.