The Penntex Midstream Partners LP (PTXP) Lowered to Hold at Zacks Investment Research

The Penntex Midstream Partners LP (PTXP) Lowered to Hold at Zacks Investment Research

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. “

Penntex Midstream Partners LP (NASDAQ:PTXP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday, May 11th.

A number of other research analysts have also issued reports on PTXP. Stifel Nicolaus reaffirmed a “hold” rating and set a $16.00 target price (up from $15.00) on shares of Penntex Midstream Partners in a report on Wednesday, May 10th. TheStreet lowered Penntex Midstream Partners from a “c-” rating to a “d+” rating in a report on Thursday, February 23rd. Finally, Robert W. Baird lowered their target price on Penntex Midstream Partners from $23.00 to $19.00 and set an “outperform” rating on the stock in a report on Monday, April 17th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $18.22.

Penntex Midstream Partners (PTXP) opened at 19.93 on Thursday. Penntex Midstream Partners has a 12-month low of $14.56 and a 12-month high of $19.99. The stock has a market capitalization of $811.43 million, a P/E ratio of 77.25 and a beta of 0.94. The firm’s 50-day moving average is $17.62 and its 200 day moving average is $16.37. The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 12th. Shareholders of record on Friday, May 5th were given a dividend of $0.295 per share. The ex-dividend date was Wednesday, May 3rd. This is a positive change from Penntex Midstream Partners’s previous quarterly dividend of $0.28. This represents a $1.18 dividend on an annualized basis and a yield of 5.92%. Penntex Midstream Partners’s dividend payout ratio (DPR) is presently 513.07%.

Penntex Midstream Partners (PTXP) opened at 19.93 on Thursday. Penntex Midstream Partners has a 12-month low of $14.56 and a 12-month high of $19.99. The stock has a market capitalization of $811.43 million, a P/E ratio of 77.25 and a beta of 0.94. The firm’s 50-day moving average is $17.62 and its 200 day moving average is $16.37. In other Penntex Midstream Partners news, Director Energy Transfer Partners, L.P. acquired 400,000 shares of the firm’s stock in a transaction on Wednesday, March 8th. The stock was purchased at an average cost of $16.10 per share, for a total transaction of $6,440,000.00. Following the transaction, the director now owns 3,439,577 shares of the company’s stock, valued at approximately $55,377,189.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Large investors have recently made changes to their positions in the company. TPH Asset Management LLC acquired a new stake in shares of Penntex Midstream Partners during the first quarter worth approximately $5,793,000. UBS Group AG raised its stake in shares of Penntex Midstream Partners by 26.7% in the first quarter. UBS Group AG now owns 968,796 shares of the pipeline company’s stock worth $16,702,000 after buying an additional 204,198 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Penntex Midstream Partners during the first quarter worth approximately $1,643,000. Renaissance Technologies LLC raised its stake in shares of Penntex Midstream Partners by 150.4% in the first quarter. Renaissance Technologies LLC now owns 105,583 shares of the pipeline company’s stock worth $1,820,000 after buying an additional 63,422 shares during the last quarter. Finally, Whetstone Capital Advisors LLC raised its stake in shares of Penntex Midstream Partners by 5.3% in the fourth quarter. Whetstone Capital Advisors LLC now owns 1,254,305 shares of the pipeline company’s stock worth $18,802,000 after buying an additional 62,775 shares during the last quarter. Hedge funds and other institutional investors own 80.06% of the company’s stock. About Penntex Midstream Partners

PennTex Midstream Partners, LP, focuses on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. The Company owns and operates midstream gathering, processing and transportation assets in northern Louisiana. The Company provides natural gas gathering and processing and residue gas and natural gas liquid (NGL) transportation services to producers focused on the Cotton Valley formation in northern Louisiana.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:PTXP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”}); Get a free copy of the Zacks research report on Penntex Midstream Partners (PTXP)

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