Morningstar

Kinetik Holdings Inc KNTK

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Stock XNYS Rating as of
$46.72 +0.81 (1.76%)
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As of Delayed Price Pre-Open: $46.72 0.00

Company Report

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Kinetik Holdings: Increased Pipeline Ownership Supports Greater Volumes

Seth Goldstein,

Kinetik and Diamondback announced that they were each boosting their stakes in the EPIC Crude to 27.5% from 15%. In exchange, the partners are increasing their minimum volume commitments and, in Kinetik's case, adding additional links between their gathering infrastructure and the pipeline. We now see volumes from nonoperated assets at 1.44 billion cubic feet equivalent per day in 2025, up from .99 Bcfe/d. As a result, we are increasing our fair value estimate to $43 from $40.

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Price vs Fair Value

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KNTK is trading at a 899% premium.
Price
$46.72
Fair Value
$95.00
Uncertainty
Medium
1-Star Price
$77.65
5-Star Price
$87.50
Economic Moat
Mwn
Capital Allocation
Cgcqnbb

Bulls Say, Bears Say

Bulls

Kinetik will benefit from increased LNG export capacity on the Gulf Coast, which will drive demand for its gas.

Bears

The lack of operator status on Kinetik’s joint venture pipelines means that the operator could make decisions that would benefit its own investments and negatively impact Kinetik’s assets.

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News

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Trading Information

Previous Close Price
$45.91
Day Range
$45.96–46.95
52-Week Range
$31.31–47.80
Bid/Ask
$43.00 / $52.51
Market Cap
$2.79 Bil
Volume/Avg
103 / 490,880

Key Statistics

Price/Earnings (Normalized)
7.20
Price/Sales
5.12
Dividend Yield (Trailing)
6.42%
Dividend Yield (Forward)
6.42%
Total Yield
6.42%

Company Profile

Kinetik is a midstream operator that provides gathering and processing services to gas and oil producers as well as pipeline transportation. It operates exclusively in Texas, serving the Permian Basin and connecting fields with market hubs and other large pipelines. In addition to directly operating pipelines, Kinetik also holds ownership stakes in several pipelines that transport molecules to the Gulf Coast enabling it to obtain exposure to export markets and international demand.
Sector
Energy
Industry
Oil & Gas Midstream
Stock Style Box
Small Value
Total Number of Employees
330
Website
https://www.kinetik.com

Competitors

Valuation

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Metric
KNTK
KMI
ET
Price/Earnings (Normalized)
 7.2020.3013.16
Price/Book Value
 —1.681.78
Price/Sales
 5.123.320.63
Price/Cash Flow
 11.079.244.99
Price/Earnings
KNTK
KMI
ET

Financial Strength

Metric
KNTK
KMI
ET
Quick Ratio
 0.640.230.88
Current Ratio
 0.750.371.14
Interest Coverage
 2.082.783.40
Quick Ratio
KNTK
KMI
ET

Profitability

Metric
KNTK
KMI
ET
Return on Assets (Normalized)
 7.43%3.57%5.82%
Return on Equity (Normalized)
 —8.24%22.54%
Return on Invested Capital (Normalized)
 10.47%6.22%9.54%
Return on Assets
KNTK
KMI
ET

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