Fintel reports that on March 8, 2024, JP Morgan upgraded their outlook for Kinetik Holdings (NYSE:KNTK) from Neutral to Overweight .

Analyst Price Forecast Suggests 10.32% Upside

As of February 24, 2024, the average one-year price target for Kinetik Holdings is 38.89. The forecasts range from a low of 35.35 to a high of $43.05. The average price target represents an increase of 10.32% from its latest reported closing price of 35.25.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Kinetik Holdings is 1,392MM, an increase of 10.79%. The projected annual non-GAAP EPS is 2.96.

Kinetik Holdings Declares $0.75 Dividend

On January 24, 2024 the company declared a regular quarterly dividend of $0.75 per share ($3.00 annualized). Shareholders of record as of February 22, 2024 received the payment on March 7, 2024. Previously, the company paid $0.75 per share.

At the current share price of $35.25 / share, the stock's dividend yield is 8.51%.

Looking back five years and taking a sample every week, the average dividend yield has been 9.28%, the lowest has been 2.43%, and the highest has been 31.41%. The standard deviation of yields is 6.39 (n=233).

The current dividend yield is 0.12 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.44. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

What is the Fund Sentiment?

There are 344 funds or institutions reporting positions in Kinetik Holdings. This is an increase of 42 owner(s) or 13.91% in the last quarter. Average portfolio weight of all funds dedicated to KNTK is 0.20%, an increase of 8.34%. Total shares owned by institutions increased in the last three months by 42.53% to 36,673K shares. The put/call ratio of KNTK is 0.14, indicating a bullish outlook.

What are Other Shareholders Doing?

Blackstone Group holds 10,471K shares representing 18.34% ownership of the company. In it's prior filing, the firm reported owning 9,037K shares, representing an increase of 13.69%. The firm decreased its portfolio allocation in KNTK by 8.40% over the last quarter.

Neuberger Berman Group holds 2,144K shares representing 3.76% ownership of the company. In it's prior filing, the firm reported owning 2,081K shares, representing an increase of 2.95%. The firm decreased its portfolio allocation in KNTK by 50.36% over the last quarter.

Zimmer Partners holds 1,617K shares representing 2.83% ownership of the company. In it's prior filing, the firm reported owning 47K shares, representing an increase of 97.09%. The firm increased its portfolio allocation in KNTK by 4,732.35% over the last quarter.

Unisphere Establishment holds 1,434K shares representing 2.51% ownership of the company.

Westwood Holdings Group holds 946K shares representing 1.66% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Kinetik Holdings Background Information
(This description is provided by the company.)

Altus Midstream Company is a pure-play, Permian-to-Gulf Coast midstream C-corporation. Through its consolidated subsidiaries, Altus owns gas gathering, processing and transmission assets servicing production in the Delaware Basin and owns equity interests in four Permian-to-Gulf Coast pipelines.