Penntex Midstream Partners Receives a Hold from Stifel Nicolaus

By Ryan Adsit

Stifel Nicolaus analyst Selman Akyol reiterated a Hold rating on Penntex Midstream Partners (NASDAQ: PTXP) on June 22 and set a price target of $20. The company’s shares closed yesterday at $19.97, close to its 52-week high of $20.17.

According to TipRanks.com, Akyol is a 2-star analyst with an average return of 0.0% and a 45.3% success rate. Akyol covers the Basic Materials sector, focusing on stocks such as Vanguard Natural Resources LLC, Energy Transfer Partners LP, and Dcp Midstream Partners Lp.

Penntex Midstream Partners has an analyst consensus of Hold, with a price target consensus of $20.

Based on Penntex Midstream Partners’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $17.07 million and quarterly net profit of $5.9 million. In comparison, last year the company earned revenue of $17.65 million and had a net profit of $4.6 million.

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Penntex Midstream Partners LP engages in the acquisition, development, and management of midstream energy infrastructure assets. Its portfolio includes Lincoln Parish plant, Mt. Olive plant, residue gas extension, gathering and residue gas pipelines, and natural gas liquids. The company was founded on August 19, 2014 and is headquartered in Dallas, TX.,003FP0-E