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

Equities research analysts expect PennTex Midstream Partners, LP (NASDAQ:PTXP) to announce $22.26 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for PennTex Midstream Partners,’s earnings. The lowest sales estimate is $17.01 million and the highest is $26.14 million. PennTex Midstream Partners, reported sales of $19.15 million during the same quarter last year, which suggests a positive year-over-year growth rate of 16.2%. The firm is scheduled to issue its next quarterly earnings results on Thursday, August 3rd.

On average, 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 year, analysts expect that the firm will post sales of $118.35 million per share, with estimates ranging from $108.80 million to $132.22 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for PennTex Midstream Partners,.

PTXP has been the subject of a number of research analyst reports. TheStreet lowered shares of PennTex Midstream Partners, from a “c-” rating to a “d+” rating in a research note on Thursday, February 23rd. Robert W. Baird reduced their price target on shares of PennTex Midstream Partners, from $23.00 to $19.00 and set an “outperform” rating for the company in a research note on Monday, April 17th. Zacks Investment Research lowered shares of PennTex Midstream Partners, from a “buy” rating to a “hold” rating in a research note on Wednesday, April 12th. Citigroup Inc. lowered shares of PennTex Midstream Partners, from a “buy” rating to a “neutral” rating and cut their target price for the company from $21.00 to $20.00 in a research note on Monday, May 22nd. Finally, Royal Bank Of Canada lowered shares of PennTex Midstream Partners, from an “outperform” rating to a “sector perform” rating and increased their target price for the company from $19.00 to $20.00 in a research note on Friday, May 19th. Eight research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. PennTex Midstream Partners, presently has an average rating of “Hold” and an average price target of $18.22.

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

Several large investors have recently added to or reduced their stakes in the stock. TPH Asset Management LLC purchased a new stake in PennTex Midstream Partners, during the first quarter worth about $5,793,000. Renaissance Technologies LLC raised its stake in 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. UBS Group AG raised its stake in 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. Geode Capital Management LLC purchased a new stake in PennTex Midstream Partners, during the first quarter worth about $218,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in PennTex Midstream Partners, during the first quarter worth about $1,643,000. Institutional investors and hedge funds own 55.01% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “$22.26 Million in Sales Expected for PennTex Midstream Partners, LP (PTXP) This Quarter” was originally posted by Ticker Report and is owned by of Ticker Report. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.tickerreport.com/banking-finance/2655637/22-26-million-in-sales-expected-for-penntex-midstream-partners-lp-ptxp-this-quarter.html.

PennTex Midstream Partners, Company Profile

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.

Get a free copy of the Zacks research report on PennTex Midstream Partners, (PTXP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for PennTex Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PennTex Midstream Partners LP and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
President Trump Hurting Tourism in the U.S.
President Trump Hurting Tourism in the U.S.
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.