HITE Hedge Asset Management LLC boosted its position in shares of Penntex Midstream Partners LP (NASDAQ:PTXP) by 8.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,052,722 shares of the company’s stock after buying an additional 79,437 shares during the period. Penntex Midstream Partners comprises 6.7% of HITE Hedge Asset Management LLC’s investment portfolio, making the stock its 3rd largest position. HITE Hedge Asset Management LLC’s holdings in Penntex Midstream Partners were worth $16,412,000 at the end of the most recent reporting period.
Separately, UBS Group AG increased its stake in Penntex Midstream Partners by 27.5% in the first quarter. UBS Group AG now owns 241,469 shares of the company’s stock worth $2,448,000 after buying an additional 52,095 shares during the period. 79.03% of the stock is owned by hedge funds and other institutional investors.
Penntex Midstream Partners LP (NASDAQ:PTXP) traded down 1.03% on Thursday, hitting $17.31. The company had a trading volume of 4,823 shares. The firm’s 50 day moving average price is $16.50 and its 200 day moving average price is $14.22. The stock has a market cap of $695.59 million, a P/E ratio of 40.16 and a beta of 1.08. Penntex Midstream Partners LP has a 12-month low of $8.54 and a 12-month high of $19.36.
Penntex Midstream Partners (NASDAQ:PTXP) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.16 by $0.03. Penntex Midstream Partners had a net margin of 22.33% and a return on equity of 6.23%. Equities analysts predict that Penntex Midstream Partners LP will post $0.59 earnings per share for the current fiscal year.
A number of equities research analysts have issued reports on the company. Citigroup Inc. boosted their price target on Penntex Midstream Partners from $18.00 to $21.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Zacks Investment Research downgraded Penntex Midstream Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, August 9th. Wunderlich boosted their price target on Penntex Midstream Partners from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Barclays PLC downgraded Penntex Midstream Partners from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $13.00 to $18.00 in a research report on Monday, June 20th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $15.18.
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.
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