Penntex Midstream Partners LP (NASDAQ:PTXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.

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. “

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

Analyst Recommendations for Penntex Midstream Partners (NASDAQ:PTXP)

Penntex Midstream Partners (NASDAQ:PTXP) opened at 16.39 on Friday. Penntex Midstream Partners has a 12 month low of $8.54 and a 12 month high of $18.00. The company’s 50 day moving average is $0.00 and its 200-day moving average is $0.00.

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were issued a $0.295 dividend. This represents a $1.18 annualized dividend and a yield of 7.20%. The ex-dividend date was Thursday, November 3rd. This is a positive change from Penntex Midstream Partners’s previous quarterly dividend of $0.28. Penntex Midstream Partners’s payout ratio is presently 203.45%.

In other Penntex Midstream Partners news, major shareholder Mrd Midstream Llc sold 2,127,704 shares of Penntex Midstream Partners stock in a transaction on Tuesday, November 1st. The shares were sold at an average price of $17.05, for a total transaction of $36,277,353.20. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

A number of large investors have recently made changes to their positions in the company. UBS Group AG boosted its stake in shares of Penntex Midstream Partners by 27.5% in the first quarter. UBS Group AG now owns 241,469 shares of the company’s stock valued at $2,448,000 after buying an additional 52,095 shares during the period. HITE Hedge Asset Management LLC boosted its stake in shares of Penntex Midstream Partners by 8.2% in the second quarter. HITE Hedge Asset Management LLC now owns 1,052,722 shares of the company’s stock valued at $16,412,000 after buying an additional 79,437 shares during the period. Societe Generale acquired a new stake in shares of Penntex Midstream Partners during the second quarter valued at about $114,000. SG Americas Securities LLC acquired a new stake in shares of Penntex Midstream Partners during the second quarter valued at about $114,000. Finally, Kayne Anderson Capital Advisors LP boosted its stake in shares of Penntex Midstream Partners by 34.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 673,869 shares of the company’s stock valued at $10,504,000 after buying an additional 174,400 shares during the period. 79.55% of the stock is currently owned by institutional investors.

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.

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