PennTex Midstream Partners LP (NASDAQ:PTXP) has been downgraded from Buy to Hold in a report by SunTrust today.
- Updated: November 29, 2016
SunTrust has downgraded PennTex Midstream Partners LP (NASDAQ:PTXP) from Buy to Hold in a statement released on 11/29/2016.
Boasting a price of $16.00, PennTex Midstream Partners LP (NASDAQ:PTXP) traded -1.96% lower on the day. The last closing price is down -1.11% from the 200-day moving average, compared to the S&P 500 which has decreased -0.03% over the same time. PTXP has recorded a 50-day average of $16.74 and a two hundred day average of $16.18. Trade Volume was down over the average, with 0 shares of PTXP changing hands under the typical 28,408
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With a market cap of $0, PennTex Midstream Partners LP has 52 week low of $8.54 and a 52 week high of $18.00 with a PE ratio of 32.59 .
A total of 11 equity analysts have released a research note on PTXP. Four analysts rating the company a strong buy, six analysts rating the stock a buy, 2 firms rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell with a average target price of $16.64.
General Information About PennTex Midstream Partners LP (NASDAQ:PTXP)
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. Its 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. PennTex Development is the parent company of the Company. Under its residue gas and NGL transportation agreements, it transports all of the residue gas and NGLs produced on behalf of Memorial Resource at its processing plants.
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