Rating Watching: PennTex Midstream Partners LP (PTXP) Hit With Downgrade by SunTrust, Is This a Concern?

November 29, 2016 - By Louis Casey

Rating Watching: PennTex Midstream Partners LP (PTXP) Hit With Downgrade by SunTrust, Is This a Concern?

PennTex Midstream Partners LP (PTXP) Downgrade

SunTrust gave PennTex Midstream Partners LP (PTXP) shares a new “Hold” rating in a analysts note revealed to clients on Tuesday, 29 November. This is decrease from the previous “Buy” rating.

The stock increased 0.85% or $0.14 on October 31, hitting $16.69. Penntex Midstream Partners LP (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 notable 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 with their article: “PennTex Midstream Partners stock price target cut to $11 from $22 at JP Morgan” published on May 06, 2015, 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) were released by: Prnewswire.com and their article: “PennTex Midstream Partners, LP Prices Initial Public Offering” published on June 04, 2015 as well as Globenewswire.com‘s news article titled: “PennTex Midstream Partners, LP to Participate in Citi MLP/Midstream …” with publication date: August 16, 2016.

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