Penntex Midstream Partners LP (NASDAQ:PTXP) was downgraded by equities researchers at SunTrust Banks Inc. from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday. They presently have a $18.00 price target on the stock, down from their prior price target of $20.00. SunTrust Banks Inc.’s target price suggests a potential upside of 14.36% from the company’s previous close.

Several other equities analysts have also issued reports on the stock. Drexel Hamilton assumed coverage on shares of Penntex Midstream Partners in a report on Thursday, November 17th. They issued a “buy” rating for the company. Zacks Investment Research lowered shares of Penntex Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, November 11th. Deutsche Bank AG set a $20.00 target price on shares of Penntex Midstream Partners and gave the stock a “buy” rating in a research note on Monday, October 10th. Citigroup Inc. upped their target price on shares of Penntex Midstream Partners from $18.00 to $21.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Finally, Wunderlich upped their target price on shares of Penntex Midstream Partners from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, August 4th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Penntex Midstream Partners currently has an average rating of “Buy” and a consensus target price of $15.73.

Analyst Recommendations for Penntex Midstream Partners (NASDAQ:PTXP)

Penntex Midstream Partners (NASDAQ:PTXP) opened at 15.74 on Tuesday. The stock has a 50 day moving average price of $0.00 and a 200-day moving average price of $0.00. Penntex Midstream Partners has a 1-year low of $8.54 and a 1-year high of $18.00.

The company also recently announced a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Monday, November 7th were issued a $0.295 dividend. This represents a $1.18 dividend on an annualized basis and a dividend yield of 7.50%. This is a boost from Penntex Midstream Partners’s previous quarterly dividend of $0.28. The ex-dividend date was Thursday, November 3rd. Penntex Midstream Partners’s dividend payout ratio is presently 203.45%.

ILLEGAL ACTIVITY WARNING: “Penntex Midstream Partners LP (PTXP) Rating Lowered to Hold at SunTrust Banks Inc.” was originally posted by Financial Market News and is the propert of of Financial Market News. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States & international copyright legislation. The correct version of this report can be read at http://www.financial-market-news.com/penntex-midstream-partners-lp-ptxp-rating-lowered-to-hold-at-suntrust-banks-inc/1212278/.

In other news, major shareholder Mrd Midstream Llc sold 2,127,704 shares of the company’s stock in a transaction dated Tuesday, November 1st. The shares were sold at an average price of $17.05, for a total value of $36,277,353.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Several large investors have recently modified their holdings of the stock. HITE Hedge Asset Management LLC boosted its stake in shares of Penntex Midstream Partners by 8.2% in the second quarter. HITE Hedge Asset Management LLC now owns 1,052,722 shares of the company’s stock worth $16,412,000 after buying an additional 79,437 shares during the last quarter. Societe Generale purchased a new stake in shares of Penntex Midstream Partners during the second quarter worth about $114,000. SG Americas Securities LLC purchased a new stake in shares of Penntex Midstream Partners during the second quarter worth about $114,000. Kayne Anderson Capital Advisors LP boosted its stake in shares of Penntex Midstream Partners by 34.9% in the second quarter. Kayne Anderson Capital Advisors LP now owns 673,869 shares of the company’s stock worth $10,504,000 after buying an additional 174,400 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in shares of Penntex Midstream Partners by 997.3% in the second quarter. JPMorgan Chase & Co. now owns 13,881 shares of the company’s stock worth $216,000 after buying an additional 12,616 shares during the last quarter. 79.28% of the stock is currently owned by institutional investors.

About Penntex Midstream Partners

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.

5 Day Chart for NASDAQ:PTXP

Receive News & Ratings for Penntex Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Penntex Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.