Kinetik Holdings Announces Dual Listing on NYSE Texas

Kinetik Holdings (KNTK) announced a dual listing on NYSE Texas, with trading set to begin on July 18. The company's primary listing will remain on the New York Stock Exchange. Analysts forecast an average target price of $52.54, indicating a 30.51% upside from the current price. KNTK reported solid Q1 results, exceeding internal expectations, with a $500 million share repurchase program announced.

Houston & Midland, Texas—Kinetik Holdings Inc. (NYSE: KNTK), a midstream energy company, has announced a dual listing of its common stock on NYSE Texas, the newly launched fully electronic equities exchange headquartered in Dallas, Texas. The dual listing will commence on July 18, 2025, with Kinetik maintaining its primary listing on the New York Stock Exchange (NYSE) [1].

"We are excited to join NYSE Texas as a Founding Member," said Jamie Welch, Kinetik's President & Chief Executive Officer. "We are proud of our deep roots in Texas with significant operations spanning the Permian Basin and headquarters in Houston and Midland. We look forward to further strengthening our partnerships with the NYSE and the Lone Star State to support the growing Texas economy and energy sector" [1].

The dual listing on NYSE Texas will provide investors with an additional platform to interact with KNTK shares. Analysts have forecasted an average target price of $52.54 for Kinetik Holdings Inc., indicating a 30.51% upside from the current price of $40.26 [2].

Kinetik Holdings reported solid first-quarter (Q1) results, exceeding internal expectations. The company's adjusted EBITDA for Q1 was $250 million, a 7% year-over-year increase, driven by processed gas volume growth and margin expansion. Additionally, Kinetik announced a $500 million share repurchase program, indicating strong capital returns to shareholders [2].

However, the company faced some challenges, including a 2% year-over-year decrease in adjusted EBITDA for the pipeline transportation segment due to the sale of equity interest in Gulf Coast Express. There is also a potential $20 million headwind to adjusted EBITDA for the full year due to lower commodity prices [2].

Despite these challenges, Kinetik Holdings maintains a strong free cash flow profile and substantial financial flexibility, with a leverage ratio under the 3.5 times target. The company expects to achieve an annualized adjusted EBITDA of approximately $1.2 billion by the end of 2025 [2].

References:
[1] https://www.businesswire.com/news/home/20250717216414/en/Kinetik-Announces-Dual-Listing-on-NYSE-Texas-Texas
[2] https://www.gurufocus.com/news/2984599/kinetik-holdings-kntk-announces-dual-listing-on-nyse-texas-kntk-stock-news