Penntex Midstream Partners LP (PTXP) was Downgraded by Barclays to ” Equal Weight” according to the research note released today. The brokerage firm has raised the Price Target to $ 18 from a previous price target of $13 . Earlier the firm had a rating of “Overweight ” on the company shares. Barclays advised their investors in a research report released on Jun 20, 2016.
Many Wall Street Analysts have commented on Penntex Midstream Partners LP. Company shares were Reiterated by Wunderlich on May 17, 2016 to “Buy”, Firm has raised the Price Target to $ 15 from a previous price target of $12 .Company shares were Reiterated by Stifel on May 9, 2016 to “Buy”, Firm has raised the Price Target to $ 13 from a previous price target of $11 .Penntex Midstream Partners LP was Downgraded by JP Morgan to ” Neutral” on Mar 30, 2016.
Penntex Midstream Partners LP opened for trading at $15.61 and hit $15.885 on the upside on Friday, eventually ending the session at $15.62, with a gain of 1.17% or 0.18 points. The heightened volatility saw the trading volume jump to 13,151 shares. Company has a market cap of $625 M.
In a different news, on Aug 14, 2015, Steven R Jones (officer ) purchased 8,000 shares at $16.16 per share price. According to the SEC, on Aug 14, 2015, Robert O Bond (officer ) purchased 5,000 shares at $16.19 per share price. On Aug 14, 2015, Thomas F Karam (director officer ) purchased 20,000 shares at $16.17 per share price, according to the Form-4 filing with the securities and exchange commission.
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.