Citi Raises Kinetik Holdings Target to $51 After Q4 Beat and Growth Outlook
Citi raised its Kinetik Holdings target price to $51 from $46 after the company beat Q4 2025 estimates and outlined a constructive growth outlook. Kings Landing ran at 99.8% uptime while the ECCC Pipeline stays on track for next-quarter completion and FID was reached on a 40 MW gas turbine project.
1. Price Target Upgrade
Citi raised Kinetik Holdings’ price target to $51 from $46 and reiterated a Buy rating after the company beat Q4 2025 estimates and outlined a constructive growth outlook.
2. Q4 Operational Performance
The Kings Landing facility ran at 99.8% uptime with strong ethane recoveries and maintained reliable operations during a recent winter storm.
3. Midstream Projects Advance
Construction on the ECCC Pipeline remains on schedule for next-quarter completion, while final investment decision has been reached on a 40 MW gas turbine project at Diamond Cryo expected to start service late 2026 with under $25 million in capex.
4. Extended Customer Contracts
Updated gas gathering and processing agreements with the two largest legacy Durango customers now extend into the mid-2030s under fixed-fee structures, enhancing long-term cash flow visibility.