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NEW YORK (TheStreet) -- Shares of KKR (KKR) - Get KKR & Co. Inc. Report were gaining in late-afternoon trading on Tuesday after reporting 2016 third-quarter earnings that beat analysts' projections.

Before the market open, the New York City-based private equity firm reported income of 71 cents per diluted share, beating analysts' estimates of 65 cents per share. 

Revenue of $1.03 billion topped analysts' projections of $942.0 million.

KKR's private equity portfolio appreciated 5.8% during the third quarter.

"We saw a rebound in our energy portfolio given an improved operating environment in the quarter," said Scott Nuttall, head of KKR's global capital and asset management group, according to Reuters. 

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"And we also saw strong performance across our alternative credit funds," he added. 

Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.

KKR's strenghts such as its expanding profit margins over time are countered by weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: KKR

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this article's author. 

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