$22.26 Million in Sales Expected for PennTex Midstream Partners, LP (PTXP) This Quarter

Wall Street brokerages expect PennTex Midstream Partners, LP (NASDAQ:PTXP) to post $22.26 million in sales for the current fiscal quarter, Zacks reports. Six analysts have made estimates for PennTex Midstream Partners,’s earnings, with the highest sales estimate coming in at $26.14 million and the lowest estimate coming in at $17.01 million. PennTex Midstream Partners, reported sales of $19.15 million in the same quarter last year, which indicates a positive year-over-year growth rate of 16.2%. The company is scheduled to report its next earnings report on Thursday, August 3rd.

According to Zacks, analysts expect that PennTex Midstream Partners, will report full-year sales of $22.26 million for the current financial year, with estimates ranging from $69.36 million to $98.42 million. For the next fiscal year, analysts expect that the business will post sales of $118.35 million per share, with estimates ranging from $108.80 million to $132.22 million. Zacks’ sales averages are an average based on a survey of research firms that follow PennTex Midstream Partners,.

A number of equities analysts recently weighed in on the company. Royal Bank Of Canada cut PennTex Midstream Partners, from an “outperform” rating to a “sector perform” rating and raised their price objective for the company from $19.00 to $20.00 in a report on Friday, May 19th. Citigroup Inc. cut PennTex Midstream Partners, from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $21.00 to $20.00 in a report on Monday, May 22nd. Stifel Nicolaus reissued a “hold” rating and set a $16.00 price objective (up from $15.00) on shares of PennTex Midstream Partners, in a report on Wednesday, May 10th. Zacks Investment Research raised PennTex Midstream Partners, from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Thursday, April 6th. Finally, Robert W. Baird cut PennTex Midstream Partners, from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $19.00 to $20.00 in a research note on Friday, May 19th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. PennTex Midstream Partners, presently has an average rating of “Hold” and a consensus target price of $18.22.

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PennTex Midstream Partners, (PTXP) traded down 0.10% during mid-day trading on Friday, hitting $19.95. The stock had a trading volume of 42,051 shares. PennTex Midstream Partners, has a 52 week low of $14.56 and a 52 week high of $20.17. The firm has a market cap of $812.24 million, a PE ratio of 77.33 and a beta of 1.00. The company’s 50 day moving average price is $18.56 and its 200 day moving average price is $16.65.

Several large investors have recently modified their holdings of PTXP. TPH Asset Management LLC acquired a new stake in shares of PennTex Midstream Partners, during the first quarter worth $5,793,000. UBS Group AG raised its stake in shares of PennTex Midstream Partners, by 26.7% in the first quarter. UBS Group AG now owns 968,796 shares of the pipeline company’s stock worth $16,702,000 after buying an additional 204,198 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of PennTex Midstream Partners, during the first quarter worth $1,643,000. Renaissance Technologies LLC raised its stake in shares of PennTex Midstream Partners, by 150.4% in the first quarter. Renaissance Technologies LLC now owns 105,583 shares of the pipeline company’s stock worth $1,820,000 after buying an additional 63,422 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. acquired a new stake in shares of PennTex Midstream Partners, during the first quarter worth $632,000. Hedge funds and other institutional investors own 55.01% of the company’s stock.

About PennTex Midstream Partners,

PennTex Midstream Partners, LP, focuses on owning, operating, acquiring and developing midstream energy infrastructure assets in North America. The Company owns and operates midstream gathering, processing and transportation assets in northern Louisiana. The Company provides natural gas gathering and processing and residue gas and natural gas liquid (NGL) transportation services to producers focused on the Cotton Valley formation in northern Louisiana.

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