Penntex Midstream Partners LP (PTXP) Given a $20.00 Price Target by Deutsche Bank AG Analysts
Penntex Midstream Partners LP (NASDAQ:PTXP) received a $20.00 price target from investment analysts at Deutsche Bank AG in a research note issued on Monday. The firm presently has a a “buy” rating on the stock. Deutsche Bank AG’s price target would suggest a potential upside of 14.35% from the stock’s current price.
Several other research analysts have also recently commented on the stock. Citigroup Inc. boosted their price target on shares of Penntex Midstream Partners from $18.00 to $21.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Zacks Investment Research cut shares of Penntex Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 9th. Wunderlich boosted their price target on shares of Penntex Midstream Partners from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, Barclays PLC cut shares of Penntex Midstream Partners from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $13.00 to $18.00 in a report on Monday, June 20th. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $15.18.
Penntex Midstream Partners (NASDAQ:PTXP) traded down 1.03% on Monday, hitting $17.31. 2,200 shares of the company’s stock were exchanged. The company has a market cap of $695.59 million, a PE ratio of 40.16 and a beta of 1.05. The company’s 50-day moving average price is $16.88 and its 200-day moving average price is $14.70. 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 posted its quarterly earnings results on Thursday, August 4th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by $0.03. Penntex Midstream Partners had a return on equity of 6.23% and a net margin of 22.33%. Analysts forecast that Penntex Midstream Partners will post $0.59 earnings per share for the current year.
A number of hedge funds have recently added to or reduced their stakes in the stock. UBS Group AG increased its stake in 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 increased its stake in 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 Penntex Midstream Partners during the second quarter valued at approximately $114,000. SG Americas Securities LLC acquired a new stake in Penntex Midstream Partners during the second quarter valued at approximately $114,000. Finally, Kayne Anderson Capital Advisors LP increased its stake in 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. 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.
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