RBC Capital Downgrades Penntex Midstream Partners to Hold

By Austin Angelo

Penntex Midstream Partners (NASDAQ: PTXP) received a Hold rating and a $20 price target from RBC Capital analyst Elvira Scotto today. The company’s shares closed yesterday at $16.65.

According to TipRanks.com, Scotto is a top 25 analyst with an average return of 23.4% and a 76.5% success rate. Scotto covers the Basic Materials sector, focusing on stocks such as American Midstreampartners Lp, Energy Transfer Partners LP, and Sanchez Production Partners.

Currently, the analyst consensus on Penntex Midstream Partners is Hold and the average price target is $18, representing an 8.1% upside.

In a report issued on May 9, Stifel Nicolaus also maintained a Hold rating on the stock with a $16 price target.

Penntex Midstream Partners’ market cap is currently $677.9M and has a P/E ratio of 66.6. The company has a book value ratio of 3.1980.

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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 Houston, TX.