Welcome to our dedicated page for Kinetik Holdings news (Ticker: KNTK), a resource for investors and traders seeking the latest updates and insights on Kinetik Holdings stock.
Kinetik Holdings Inc. reports news on its Permian Basin midstream operations, including gas gathering and processing, compression and treating, NGL transportation, produced water handling, and crude oil gathering, stabilization, storage, and transportation. The company operates through Midstream Logistics and Pipeline Transportation segments.
Recurring updates cover financial and operating results, dividend declarations, the dividend reinvestment plan, customer agreements, commodity-basis exposure, and system expansions. Company news also includes updates on the Kings Landing Complex, ECCC Pipeline construction, Delaware Basin capacity needs, and pipeline transportation assets serving access points toward the U.S. Gulf Coast.
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Kinetik Holdings Inc. (NYSE: KNTK) has announced a cash dividend of $0.75 per share, equating to $3.00 annually, for Q1 2023, to be paid on May 17, 2023. Shareholders on record as of May 5, 2023 will receive this dividend. This announcement aligns with prior communications from the Company.
The first-quarter results conference call is scheduled for May 4, 2023, at 8:00 AM CDT. The earnings release will be available post-market on May 3, 2023. Kinetik has a Dividend Reinvestment Plan (DRIP) allowing shareholders to reinvest dividends into additional shares.
Further details on the DRIP are outlined in the Company’s Form S-3 registration statement filed with the SEC.
Kinetik Holdings reported a strong financial performance for the full year 2022, with net income of $250.7 million and Pro Forma Adjusted EBITDA of $822.2 million. For Q4 2022, net income was $48.5 million and Pro Forma Adjusted EBITDA reached $211.1 million. Kinetik issued guidance for 2023 Adjusted EBITDA between $800 million and $860 million, projecting a 15% increase in processed gas volumes. The company announced a $100 million share repurchase program and is expanding its operations into Lea County, New Mexico, underpinned by a long-term gathering agreement. Capital expenditures for 2023 are estimated at $490 million to $540 million.