Kinetik HoldingsNASDAQ: KNTK

KINETIK HLDGS (KNTK) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.

Kinetik's stock price has surged into expensive territory. Higher stock prices incentivize conversion of privately held stock. Despite a 4% dividend increase and rapid earnings growth, the stock's current valuation appears stretched.

Does Kinetik Holdings Inc. (KNTK) have what it takes to be a top stock pick for momentum investors? Let's find out.

Here is how Kinetik Holdings Inc. (KNTK) and Smart Sand (SND) have performed compared to their sector so far this year.

HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)--Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced that its Board of Directors has declared an increase to its quarterly cash dividend to $0.78 per share, or $3.12 per share on an annualized basis, for the third quarter ended September 30, 2024. The announced quarterly dividend represents a 4% increase versus the prior quarterly dividend and will be paid on Thursday, November 7, 2024 to shareholders of record as of market c.

FANG and Kinetik Holdings' partnership with EPIC Midstream enhances crude oil transportation efficiency and financial stability from the Permian Basin.

The growth story of KNTK got a fresh update. Growth projects now include new contracts, margin expansions, and the possibility of building another natural gas processing plant in the northern Delaware basin. The anticipated growth rate produces an attractive valuation with the potential for 25% share price growth coupled with a 7.3% yield.

Kinetik Holdings Inc. (KNTK) came out with a quarterly earnings of $0.54 per share versus the Zacks Consensus Estimate of $0.43. This compares to earnings of $0.41 per share a year ago.

Kinetik Holdings Inc. (NYSE:KNTK ) Q2 2024 Earnings Conference Call August 8, 2024 9:00 AM ET Company Participants Madeleine Wagner - Investor Relations Jamie Welch - President & Chief Executive Officer Trevor Howard - Chief Financial Officer Kris Kindrick - Senior Vice President, Commercial Conference Call Participants Michael Blum - Wells Fargo Jeremy Tonet - JP Morgan Tristan Richardson - Scotiabank Spiro Dounis - Citi. Keith Stanley - Wolfe Research Theresa Chen - Barclays Neel Mitra - Bank of America Jackie Colitis - Goldman Sachs Operator Good morning.