Rating Change: What To Expect After PennTex Midstream Partners (NASDAQ:PTXP)’s Downgrade from “Buy” to “Hold” Rating?

November 29, 2016 - By Ruchi Gupta

Rating Change:  What To Expect After PennTex Midstream Partners (NASDAQ:PTXP)'s Downgrade from

PennTex Midstream Partners (NASDAQ:PTXP) Downgrade

PennTex Midstream Partners (NASDAQ:PTXP)‘s rating was downgraded by expert analysts at SunTrust Robinson Humphrey from a “Buy” rating to a “Hold” rating in a research report issued to investors and clients on Tuesday, 29 November. The firm now has a $18.00 target price per share on the stock. SunTrust Robinson Humphrey’s target price per share would indicate a potential upside of 7.85%.

Penntex Midstream Partners LP (NASDAQ:PTXP) Ratings Coverage

Out of 7 analysts covering PennTex Midstream Partners LP (NASDAQ:PTXP), 4 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. $22 is the highest target while $11 is the lowest. The $16.75 average target is 0.36% above today’s ($16.69) stock price. PennTex Midstream Partners LP has been the topic of 16 analyst reports since August 10, 2015 according to StockzIntelligence Inc. The stock has “Buy” rating given by Stifel Nicolaus on Friday, February 26. The stock has “Buy” rating given by Citigroup on Wednesday, April 6. The firm has “Buy” rating given on Friday, February 26 by Wunderlich. As per Monday, January 18, the company rating was downgraded by Wells Fargo. As per Wednesday, August 10, the company rating was maintained by Citigroup. JP Morgan downgraded it to “Neutral” rating and $11 target price in Wednesday, March 30 report. The stock of Penntex Midstream Partners LP (NASDAQ:PTXP) has “Buy” rating given on Tuesday, September 15 by Stifel Nicolaus. The stock of Penntex Midstream Partners LP (NASDAQ:PTXP) has “Buy” rating given on Friday, November 6 by Wunderlich. The stock of Penntex Midstream Partners LP (NASDAQ:PTXP) has “Buy” rating given on Monday, October 10 by . Wells Fargo downgraded the stock to “Market Perform” rating in Friday, January 15 report.

Penntex Midstream Partners LP (NASDAQ:PTXP) has risen 38.77% since April 26, 2016 and is uptrending. It has outperformed by 33.51% the S&P500.

Analysts await Penntex Midstream Partners LP (NASDAQ:PTXP) to report earnings on February, 23. They expect $0.20 earnings per share, up 17.65% or $0.03 from last year’s $0.17 per share. PTXP’s profit will be $8.17 million for 20.86 P/E if the $0.20 EPS becomes a reality. After $0.16 actual earnings per share reported by Penntex Midstream Partners LP for the previous quarter, Wall Street now forecasts 25.00% EPS growth.

PennTex Midstream Partners, LP focuses on owning, operating, acquiring and developing midstream energy infrastructure assets, with an initial focus in northern Louisiana. The company has a market cap of $682.01 million. The Firm provides natural gas gathering and processing, and residue gas and natural gas liquids transportation services to producers in northern Louisiana primarily focused in the Terryville Complex of the Cotton Valley formation. It has a 32.94 P/E ratio. The Company’s assets include the Lincoln Parish plant, an approximately 200 million cubic feet per day (MMcf/d) design-capacity cryogenic natural gas processing plant located near Arcadia, Louisiana, and an approximately 40-mile natural gas liquid (NGL) pipeline that provides connections to the Mont Belvieu market for NGLs produced from its processing plants.

According to Zacks Investment Research, “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.”

PTXP Company Profile

PennTex Midstream Partners, LP, incorporated on August 19, 2014, focuses on owning, operating, acquiring and developing midstream energy infrastructure assets, with an initial focus in northern Louisiana. The Firm 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.

More important recent Penntex Midstream Partners LP (NASDAQ:PTXP) news were published by: Businesswire.com which released: “Energy Transfer Partners to Acquire Certain Interests in PennTex Midstream …” on October 25, 2016, also Marketwatch.com published article titled: “PennTex Midstream Partners stock price target cut to $11 from $22 at JP Morgan”, Globenewswire.com published: “PennTex Midstream Partners, LP Announces Completion of Sale of General Partner …” on November 02, 2016. More interesting news about Penntex Midstream Partners LP (NASDAQ:PTXP) was released by: Prnewswire.com and their article: “PennTex Midstream Partners, LP Prices Initial Public Offering” with publication date: June 04, 2015.

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