Is Kinetik Holdings, Inc. overvalued or undervalued?

As of 1 August 2019, Kinetik Holdings, Inc. has moved from a valuation grade of very expensive to risky, indicating a significant shift in its perceived value. The company is currently assessed as overvalued. Key ratios include a P/E ratio of 25, an EV to EBITDA of 18.02, and a ROCE of 21.26%. In comparison to peers, DT Midstream, Inc. has a higher P/E of 27.95 and EV to EBITDA of 18.46, while Equitrans Midstream Corp. shows a much lower P/E of 11.32 and EV to EBITDA of 12.53.
Despite a recent decline in stock performance, with a year-to-date return of -26.66% compared to the S&P 500's 2.44%, the valuation metrics suggest that Kinetik Holdings, Inc. is not positioned favorably against its peers, reinforcing the conclusion that it is overvalued in the current market environment.