Rating On Watch: Suntrust Robinson Reports Downgrade of PennTex Midstream Partners LP (NASDAQ:PTXP) from “Buy” to “Hold” Rating

November 29, 2016 - By olga

Rating On Watch: Suntrust Robinson Reports Downgrade of PennTex Midstream Partners LP (NASDAQ:PTXP) from

PennTex Midstream Partners LP (NASDAQ:PTXP) Downgrade

PennTex Midstream Partners LP (NASDAQ:PTXP) was decreased by Suntrust Robinson from a “Buy” rating to a “Hold” rating in a a note shared with investors on 29 November.

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. maintained Penntex Midstream Partners LP (NASDAQ:PTXP) on Monday, October 10 with “Buy” rating. The stock of Penntex Midstream Partners LP (NASDAQ:PTXP) earned “Neutral” rating by JP Morgan on Wednesday, March 30. The stock of Penntex Midstream Partners LP (NASDAQ:PTXP) has “Buy” rating given on Friday, November 6 by Wunderlich. The firm earned “Market Perform” rating on Monday, January 18 by Wells Fargo. Barclays Capital maintained Penntex Midstream Partners LP (NASDAQ:PTXP) on Friday, August 14 with “Overweight” rating. The stock of Penntex Midstream Partners LP (NASDAQ:PTXP) has “Buy” rating given on Friday, February 26 by Wunderlich. The company was downgraded on Monday, June 20 by Barclays Capital. Citigroup maintained it with “Buy” rating and $15 target price in Wednesday, April 6 report. The firm has “Market Perform” rating by Wells Fargo given on Friday, January 15. The rating was maintained by Stifel Nicolaus on Friday, February 26 with “Buy”.

The stock increased 0.85% or $0.14 on October 31, hitting $16.69. 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 $8.17M 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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