Deutsche Bank AG Analysts Give Penntex Midstream Partners LP (PTXP) a $20.00 Price Target
Penntex Midstream Partners LP (NASDAQ:PTXP) has been given a $20.00 target price by research analysts at Deutsche Bank AG in a report released on Monday. The brokerage presently has a a “buy” rating on the stock. Deutsche Bank AG’s target price suggests a potential upside of 14.35% from the company’s current price.
Several other equities analysts also recently issued reports on the company. Citigroup Inc. lifted their price objective on Penntex Midstream Partners from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Zacks Investment Research downgraded Penntex Midstream Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Wunderlich lifted their price objective on Penntex Midstream Partners from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Barclays PLC downgraded Penntex Midstream Partners from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $13.00 to $18.00 in a research report on Monday, June 20th. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $15.18.
Penntex Midstream Partners (NASDAQ:PTXP) traded down 1.03% during trading on Monday, hitting $17.31. The company had a trading volume of 2,200 shares. The firm has a 50-day moving average of $16.88 and a 200 day moving average of $14.70. The company has a market capitalization of $695.59 million, a price-to-earnings ratio of 40.16 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.
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Penntex Midstream Partners (NASDAQ:PTXP) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.13 earnings per share (EPS) 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 research analysts forecast that Penntex Midstream Partners will post $0.59 earnings per share for the current year.
Several large investors have recently made changes to their positions in the company. Cohen & Steers Inc. boosted its stake 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 Penntex Midstream Partners during the second quarter worth about $1,525,000. Citigroup Inc. boosted its position 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 last quarter. Atlantic Trust Group LLC boosted its position 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 last quarter. Finally, Whetstone Capital Advisors LLC boosted its position 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 last quarter. 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.
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