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Citi Lifts Kinetik Holdings (KNTK) Target Following Earnings Beat and Positive Outlook
Yahoo Finance· 2026-03-05 01:16
Group 1 - Kinetik Holdings Inc. is recognized as one of the 14 Best Dividend Stocks to Invest in Under $50 [1] - Citi raised its price target for Kinetik Holdings from $46 to $51, maintaining a Buy rating due to a recent earnings beat and a positive growth outlook [2] - The company reported a 99.8% run time at its Kings Landing facility during Q4 2025, with strong ethane recoveries and reliable operations despite adverse weather conditions [3] Group 2 - Kinetik Holdings has made a final investment decision on a 40-megawatt gas-fired power generation project at Diamond Cryo, expected to begin service in late 2026 with a capital requirement of less than $25 million [4] - The company has updated gas gathering and processing agreements with its two largest legacy customers, extending the contracts into the mid-2030s with fixed-fee structures to enhance long-term cash flow visibility [4] - Kinetik operates as an integrated midstream company in the Permian-to-Gulf Coast region, providing various services for natural gas, natural gas liquids, crude oil, and water [5]