Kinetik (KNTK)
Gathers and processes Delaware Basin gas while moving crude, water and natural gas liquids.
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Provides natural gas gathering, compression, treating and processing, plus crude oil and produced-water services in the Delaware Basin. Service fees plus natural gas liquids and condensate sales anchor Midstream Logistics, while owned pipelines and stakes in Permian Highway and Shin Oak extend residue gas and liquids toward Gulf Coast and Mexico markets.
Operates an integrated Permian Basin network across Texas and New Mexico, gathering, compressing, treating and processing natural gas alongside crude oil and produced-water services. Midstream Logistics also stabilizes and stores crude, linking producer systems to downstream outlets. Revenue comes from service fees and sales of natural gas liquids, residue gas and condensate.
Pipeline Transportation owns Delaware Link, Kinetik NGL and ECCC pipelines and holds stakes in Permian Highway and Shin Oak, extending gas and liquids toward Gulf Coast and Mexico markets. Throughput depends on drilling and completion activity across its largely Delaware Basin footprint.
Some transportation assets are partner-operated; pipeline rates, safety and produced-water disposal remain subject to federal and state regulation.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 10, 2026 | Deutsche Bank | Initiate | Rating: — | |
| Sep 10, 2026 | Scotiabank | Reiterate | Rating: —Target: $52 | Target: $58 |
| Sep 9, 2026 | Jefferies | Reiterate | Rating: —Target: $51 | Target: $56 |
| Aug 18, 2026 | Morgan Stanley | Reiterate | Rating: —Target: $64 | Target: $70 |
| Aug 17, 2026 | China Renaissance Securities (US) Inc. | Target | Target: — | Target: $57 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $7.8M · Total debt $3.98B · Total assets $7.20B · Shareholders' equity −$1.19B
- Revenue
- $581.4M
- Operating income
- $134.0M
- Net income
- $49.5M
HistoryDividendAnnual yield
| Institutions | 44.37% | 72.04M shares | |
|---|---|---|---|
| 331 holders · as of Jun 30, 2026 | |||
| Insiders | 3.52% | 5.72M shares | |
| 11 holders · as of Aug 18, 2026 | |||
| Strategic holders | 0.28% | 448.3K shares | |
| 1 holder · as of Sep 21, 2026 | |||
| Other | 51.83% | 84.17M shares | |
| remainder | |||
162.38M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Two share counts disagree (162.38M in the company's Sep 23, 2026 report, 73.60M elsewhere); stakes use the report.
This company has 2 share classes; every stake here is a share of the whole company.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
Blackstone Inc.Institution | 7.34% | 11.92M A | as of Jun 30, 2026 |
BlackRock, Inc.Institution | 5.29% | 8.60M A | as of Jun 30, 2026 |
Goldman Sachs Group IncInstitution | 2.62% | 4.26M A | as of Jun 30, 2026 |
Jamie WelchInsiderdirector, officer: See Remarks | 2.33% | 3.79M A | filed Mar 4, 2026 |
Goldman Sachs Asset Management, L.P.Institution | 2.21% | 3.58M | filed May 14, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Sep 21, 2026 | ISQ Global Fund II GP LLC | 10 percent owner | −21,511 | $53.59 |
| Sep 18, 2026 | ISQ Global Fund II GP LLC | 10 percent owner | −135,084 | $54.25 |
| Sep 17, 2026 | ISQ Global Fund II GP LLC | 10 percent owner | −108,977 | $53.84 |
| Sep 16, 2026 | ISQ Global Fund II GP LLC | 10 percent owner | −8,772 | $55.06 |
| Sep 15, 2026 | ISQ Global Fund II GP LLC | 10 percent owner | −4,686 | $55.11 |
- Western Midstream Partners
Pure-play Delaware Basin G&P, crude, and water operator anchored by Occidental
- Targa Resources
Largest natural gas gatherer/processor in the Permian, with major Delaware G&P
- Enterprise Products Partners
Largest US midstream MLP, expanding Delaware Basin gathering and processing
- MPLX
Large-cap MLP with growing Delaware Basin gas gathering and processing platform
- Energy Transfer
Largest US diversified midstream MLP with a growing Permian G&P footprint
- ONEOK
Diversified midstream operator scaling Delaware Basin G&P via Medallion/EnLink
- Plains All American Pipeline
Largest US crude oil MLP with a dominant Permian gathering footprint
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Kinetik | $53.22 | +1.58% | $3.86B | 19.0 | 31.3 | 2.0 | +36.3% |
| Western Midstream Partners | $46.17 | +0.23% | $19.03B | 14.4 | 12.0 | 4.4 | +30.0% |
| Targa Resources | $287.62 | +1.94% | $60.56B | 26.9 | 25.6 | 3.6 | +10.3% |
| Enterprise Products Partners | $37.88 | −0.34% | $82.24B | 13.2 | 12.4 | 1.4 | +60.8% |
| MPLX | $59.27 | +0.19% | $60.03B | 12.7 | 12.9 | 4.7 | +10.6% |
| Energy Transfer | $20.63 | +1.10% | $70.20B | 12.7 | 12.6 | 0.7 | +78.4% |
| ONEOK | $91.14 | +1.17% | $56.77B | 15.5 | 15.4 | 1.4 | +52.8% |
| Plains All American Pipeline | $24.61 | +0.24% | $17.32B | 6.8 | 14.5 | 0.3 | +66.3% |
| Median | 13.2 | 12.9 | 1.4 | +52.8% |