Penntex Midstream Partners LP (NASDAQ:PTXP) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

According to Zacks, “PennTex Midstream Partners, LP is involved in owning, operating, acquiring and developing midstream energy infrastructure assets primarily in North America. PennTex Midstream Partners, LP is headquartered in Houston, TX. “

PTXP has been the subject of a number of other reports. Deutsche Bank AG set a $20.00 target price on shares of Penntex Midstream Partners and gave the company a “buy” rating in a report on Monday, October 10th. Citigroup Inc. increased their target price on shares of Penntex Midstream Partners from $18.00 to $21.00 and gave the company a “buy” rating in a report on Wednesday, August 10th. Finally, Wunderlich increased their target price on shares of Penntex Midstream Partners from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, August 4th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $15.18.

Analyst Recommendations for Penntex Midstream Partners (NASDAQ:PTXP)

Penntex Midstream Partners (NASDAQ:PTXP) opened at 17.16 on Wednesday. The firm has a market capitalization of $689.56 million, a PE ratio of 39.81 and a beta of 1.05. Penntex Midstream Partners has a 12-month low of $8.54 and a 12-month high of $19.36. The company has a 50-day moving average price of $17.12 and a 200-day moving average price of $14.98.

Penntex Midstream Partners (NASDAQ:PTXP) last issued its earnings results on Thursday, August 4th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the Zacks’ 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, analysts predict that Penntex Midstream Partners will post $0.59 earnings per share for the current year.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Cohen & Steers Inc. boosted its position in shares of 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 acquired a new position in shares of Penntex Midstream Partners during the second quarter worth $1,525,000. Citigroup Inc. boosted its position in shares of 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 position in shares of 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 position in shares of 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. 79.03% of the stock is owned by institutional investors and hedge funds.

Penntex Midstream Partners Company Profile

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.

5 Day Chart for NASDAQ:PTXP

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.