Penntex Midstream Partners LP (NASDAQ:PTXP) has been given an average rating of “Hold” by the ten ratings firms that are currently covering the firm, MarketBeat.com reports. Seven research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $18.86.

A number of equities analysts recently commented on the stock. Stifel Nicolaus set a $20.00 price objective on shares of Penntex Midstream Partners and gave the stock a “hold” rating in a research note on Saturday, June 24th. TheStreet raised shares of Penntex Midstream Partners from a “d+” rating to a “b-” rating in a research note on Monday, June 19th. Citigroup Inc. lowered shares of Penntex Midstream Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $21.00 to $20.00 in a research note on Monday, May 22nd. Robert W. Baird lowered shares of Penntex Midstream Partners from an “outperform” rating to a “neutral” rating and raised their price objective for the stock from $19.00 to $20.00 in a research note on Friday, May 19th. Finally, Royal Bank Of Canada lowered shares of Penntex Midstream Partners from an “outperform” rating to a “sector perform” rating and raised their price objective for the stock from $19.00 to $20.00 in a research note on Friday, May 19th.

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Large investors have recently modified their holdings of the stock. HITE Hedge Asset Management LLC raised its stake in shares of Penntex Midstream Partners by 0.4% in the fourth quarter. HITE Hedge Asset Management LLC now owns 1,094,430 shares of the pipeline company’s stock worth $16,406,000 after buying an additional 4,500 shares during the period. Chevy Chase Trust Holdings Inc. bought a new stake in shares of Penntex Midstream Partners during the first quarter worth about $632,000. Renaissance Technologies LLC bought a new stake in shares of Penntex Midstream Partners during the fourth quarter worth about $632,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Penntex Midstream Partners during the first quarter worth about $1,643,000. Finally, Bank of Montreal Can bought a new stake in shares of Penntex Midstream Partners during the second quarter worth about $2,000,000. 55.01% of the stock is owned by institutional investors.

Penntex Midstream Partners Company Profile

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.

Analyst Recommendations for Penntex Midstream Partners (NASDAQ:PTXP)

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