Analysts Set Penntex Midstream Partners LP (NASDAQ:PTXP) Price Target at $21.73

Penntex Midstream Partners LP (NASDAQ:PTXP) has received a consensus rating of “Buy” from the thirteen research firms that are covering the stock, Analyst Ratings Net reports. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $21.73.

Penntex Midstream Partners (NASDAQ:PTXP) traded up 0.642% on Monday, reaching $13.013. The company’s stock had a trading volume of 13,048 shares. The stock’s market cap is $520.52 million. The firm’s 50-day moving average price is $13.79 and its 200-day moving average price is $16.84. Penntex Midstream Partners has a 52-week low of $12.09 and a 52-week high of $21.02.

Penntex Midstream Partners (NASDAQ:PTXP) last issued its earnings results on Friday, November 6th. The company reported $0.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.07 by $0.02. On average, equities analysts expect that Penntex Midstream Partners will post $0.31 earnings per share for the current year.

PTXP has been the subject of a number of research reports. Stifel Nicolaus upgraded Penntex Midstream Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, September 15th. Deutsche Bank dropped their price target on Penntex Midstream Partners from $23.00 to $22.00 and set a “buy” rating for the company in a research note on Tuesday, October 20th. Zacks Investment Research upgraded Penntex Midstream Partners from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, October 13th. Wunderlich dropped their price target on Penntex Midstream Partners from $23.00 to $21.00 and set a “buy” rating for the company in a research note on Friday, November 6th. Finally, JPMorgan Chase & Co. initiated coverage on Penntex Midstream Partners in a research note on Friday, September 11th. They issued an “overweight” rating and a $22.00 price target for the company.

12 Month Chart for NASDAQ:PTXP

PennTex Midstream Partners, LP is a limited partnership focused on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. The Company’s Phase I assets include Lincoln Parish Plant, which is a 200 million cubic feet per day (NASDAQ:PTXP) cryogenic natural gas processing plant located near Arcadia, with on-site NGL storage and truck loading facilities; PennTex Gathering Pipeline, which is a 35-mile natural gas gathering system, consisting of 30.3 miles of 12 inch pipeline, 1.4 miles of 20 inch pipeline and 3.1 miles of 24 inch pipeline that provides producers access to its processing plants and to the Minden Plant, with available capacity of 400 MMcf/d to its processing plants and 50 MMcf/d to the Minden Plant and PennTex Residue Gas Pipeline, which is a one mile, 24 inch residue natural gas header with 400 MMcf/d of capacity that provides market access for residue natural gas from the Lincoln Parish Plant for delivery to third-party pipelines.

 

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