Hite Hedge Asset Management buys $11,192,778 stake in Penntex Midstream Partners LP (PTXP)

Penntex Midstream Partners LP (PTXP) : Hite Hedge Asset Management scooped up 283,438 additional shares in Penntex Midstream Partners LP during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Apr 26, 2016. The investment management firm now holds a total of 973,285 shares of Penntex Midstream Partners LP which is valued at $11,192,778.Penntex Midstream Partners LP makes up approximately 4.56% of Hite Hedge Asset Management’s portfolio.

Penntex Midstream Partners LP opened for trading at $11.62 and hit $11.62 on the upside on Monday, eventually ending the session at $11.59, with a gain of 0.78% or 0.09 points. The heightened volatility saw the trading volume jump to 12,277 shares. Company has a market cap of $464 M.

Other Hedge Funds, Including , Center Coast Capital Advisors Lp sold out all of its stake in PTXP during the most recent quarter. The investment firm sold 1,576 shares of PTXP which is valued $17,840.

Many Wall Street Analysts have commented on Penntex Midstream Partners LP. Penntex Midstream Partners LP was Downgraded by JP Morgan to ” Neutral” on Mar 30, 2016. Shares were Reiterated by RBC Capital Mkts on Mar 10, 2016 to “Outperform” and Lowered the Price Target to $ 14 from a previous price target of $16 .Shares were Reiterated by Stifel on Feb 26, 2016 to “Buy” and Lowered the Price Target to $ 11 from a previous price target of $15 .

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 (MMcf/d) 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.

Leave a Reply

Penntex Midstream Partners LP - Is it time to Sell?

Top Brokerage Firms are advising their investors on Penntex Midstream Partners LP. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.