Penntex Midstream Partners LP (PTXP) is Downgraded by SunTrust to Hold

Penntex Midstream Partners LP (PTXP) was Downgraded by SunTrust to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. SunTrust advised their investors in a research report released on Nov 29, 2016.

Penntex Midstream Partners LP closed down -0.2404 points or -1.45% at $16.3196 with 636 shares getting traded on Friday. Post opening the session at $16.59, the shares hit an intraday low of $16.3196 and an intraday high of $16.59 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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.

Penntex Midstream Partners LP

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