Penntex Midstream Partners LP (NASDAQ:PTXP) Receives Average Rating of “Buy” from Analysts
Penntex Midstream Partners LP (NASDAQ:PTXP) has been given an average rating of “Buy” by the thirteen ratings firms that are currently covering the stock. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $15.22.
Several equities research analysts recently weighed in on the company. Zacks Investment Research lowered Penntex Midstream Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Wunderlich boosted their target price on Penntex Midstream Partners from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Barclays PLC downgraded Penntex Midstream Partners from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $13.00 to $18.00 in a report on Monday, June 20th. Finally, Citigroup Inc. boosted their target price on Penntex Midstream Partners from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th.
Penntex Midstream Partners (NASDAQ:PTXP) opened at 17.36 on Wednesday. The company has a market cap of $697.59 million, a P/E ratio of 40.28 and a beta of 1.05. The stock’s 50 day moving average price is $16.60 and its 200 day moving average price is $14.29. Penntex Midstream Partners has a 1-year low of $8.54 and a 1-year high of $19.36.
Penntex Midstream Partners (NASDAQ:PTXP) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by $0.03. Penntex Midstream Partners had a net margin of 22.33% and a return on equity of 6.23%. On average, equities analysts anticipate that Penntex Midstream Partners will post $0.59 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of PTXP. Cohen & Steers Inc. boosted its stake in Penntex Midstream Partners by 2.7% in the second quarter. Cohen & Steers Inc. now owns 312,085 shares of the company’s stock worth $4,865,000 after buying an additional 8,260 shares during the period. Jefferies Group LLC purchased a new stake in Penntex Midstream Partners during the second quarter worth approximately $1,525,000. Citigroup Inc. boosted its stake in Penntex Midstream Partners by 51.5% in the second quarter. Citigroup Inc. now owns 29,400 shares of the company’s stock worth $458,000 after buying an additional 9,999 shares during the period. Atlantic Trust Group LLC boosted its stake in Penntex Midstream Partners by 0.5% in the second quarter. Atlantic Trust Group LLC now owns 792,055 shares of the company’s stock worth $12,349,000 after buying an additional 4,326 shares during the period. Finally, Whetstone Capital Advisors LLC boosted its stake in Penntex Midstream Partners by 23.0% in the second quarter. Whetstone Capital Advisors LLC now owns 1,191,530 shares of the company’s stock worth $18,576,000 after buying an additional 222,527 shares during the period. Hedge funds and other institutional investors own 79.03% of the company’s stock.
About Penntex Midstream Partners
PennTex Midstream Partners, LP focuses on owning, operating, acquiring and developing midstream energy infrastructure assets, with an initial focus in northern Louisiana. The Company provides natural gas gathering and processing, and residue gas and natural gas liquids (NGL) transportation services to producers in northern Louisiana primarily focused in the Terryville Complex of the Cotton Valley formation.
Receive News & Stock Ratings for Penntex Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penntex Midstream Partners LP and related stocks with our FREE daily email newsletter.