Penntex Midstream Partners LP (NASDAQ:PTXP) was downgraded by stock analysts at SunTrust Banks Inc. from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
A number of other equities analysts also recently issued reports on PTXP. Wunderlich lifted their price objective on shares of Penntex Midstream Partners from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Zacks Investment Research cut Penntex Midstream Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, August 9th. Citigroup Inc. boosted their price objective on Penntex Midstream Partners from $18.00 to $21.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th. Deutsche Bank AG set a $20.00 price objective on Penntex Midstream Partners and gave the company a “buy” rating in a research note on Monday, October 10th. Finally, Drexel Hamilton began coverage on Penntex Midstream Partners in a research report on Thursday, November 17th. They set a “buy” rating on the stock. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Penntex Midstream Partners presently has an average rating of “Buy” and an average price target of $15.18.
Penntex Midstream Partners (NASDAQ:PTXP) opened at 16.00 on Tuesday. The firm has a market capitalization of $642.94 million, a P/E ratio of 32.59 and a beta of 1.08. Penntex Midstream Partners has a 1-year low of $8.54 and a 1-year high of $18.00. The company has a 50 day moving average of $16.74 and a 200 day moving average of $16.18.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Monday, November 7th were issued a dividend of $0.295 per share. This represents a $1.18 dividend on an annualized basis and a dividend yield of 7.43%. The ex-dividend date was Thursday, November 3rd. This is an increase from Penntex Midstream Partners’s previous quarterly dividend of $0.28. Penntex Midstream Partners’s dividend payout ratio is currently 203.45%.
In other Penntex Midstream Partners news, major shareholder Mrd Midstream Llc sold 2,127,704 shares of the stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $17.05, for a total value of $36,277,353.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
A number of institutional investors have recently bought and sold shares of PTXP. SG Americas Securities LLC bought a new stake in Penntex Midstream Partners during the second quarter worth approximately $114,000. Societe Generale bought a new stake in Penntex Midstream Partners during the second quarter worth approximately $114,000. JPMorgan Chase & Co. boosted its stake in 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 in the last quarter. Citigroup Inc. boosted its stake in Penntex Midstream Partners by 51.5% in the second quarter. Citigroup Inc. now owns 29,400 shares of the company’s stock worth $458,000 after buying an additional 9,999 shares in the last quarter. Finally, M&T Bank Corp bought a new stake in Penntex Midstream Partners during the third quarter worth approximately $870,000. Institutional investors and hedge funds own 79.28% of the company’s stock.
Penntex Midstream Partners Company Profile