Kinetik Shares Jump 5% on Report of Potential Sale Exploration

Shares of Kinetik Holdings Inc. (NYSE:KNT) jumped 5% in extended trading Wednesday after reports indicated the energy pipeline operator is evaluating strategic options, including a possible sale.

The Blackstone Inc.-backed company is collaborating with advisers on a potential sale process that could launch within weeks, according to Bloomberg News, which cited people familiar with the discussions. No definitive decision has been made, and Kinetik could choose to stay independent, those sources said.

In regular trading on Wednesday, Kinetik's shares slipped 0.8% to finish at $54.55, putting its market value at roughly $8.9 billion. Over the previous 12 months, the stock has risen 30%.

Kinetik operates energy pipeline infrastructure and is partially owned by Blackstone Inc. (NYSE:BX). Representatives at both Kinetik and Blackstone declined to comment on the matter when contacted.

The strategic review comes at a time when Kinetik's stock has performed strongly over the past year, potentially positioning the company as an attractive prize for acquirers active in the energy infrastructure sector.

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