Revenue Update on Penntex Midstream Partners LP(NASDAQ:PTXP)

Penntex Midstream Partners LP(NASDAQ:PTXP) announced the earnings results for Fiscal Year 2016 and Q4. The results came in during Pre-Market on Feb 3, 2017. Earnings per share were $-0.18.

In a different note, On Jan 3, 2017, Deutsche Bank said it Downgrades its rating on Penntex Midstream Partners LP. According to the research note, Deutsche Bank Lowers the price target to $17 per share from a prior target of $20. The shares have been rated ‘Hold’ by the firm.

Penntex Midstream Partners LP (PTXP) shares turned negative on Tuesdays trading session with the shares closing down -0.31 points or -1.96% at a volume of 30,717. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $15.83. The peak price level was also seen at $15.83 while the days lowest was $15.34. Finally the shares closed at $15.47. The 52-week high of the shares is $18 while the 52-week low is $8.54. According to the latest information available, the market cap of the company is $622 M.

Several Insider Transactions has been reported to the SEC. On Aug 14, 2015, Steven R Jones (officer ) purchased 8,000 shares at $16.16 per share price.Also, On Aug 14, 2015, Robert O Bond (officer ) purchased 5,000 shares at $16.19 per share price.On Aug 14, 2015, Thomas F Karam (director officer ) purchased 20,000 shares at $16.17 per share price, according to the Form-4 filing with the securities and exchange commission.

PennTex Midstream Partners LP is a limited partnership focused on owning operating acquiring and developing midstream energy infrastructure assets in North America. The Company’s Phase I assets include Lincoln Parish Plant which is a 200 million cubic feet per day (MMcf/d) cryogenic natural gas processing plant located near Arcadia with on-site NGL storage and truck loading facilities; PennTex Gathering Pipeline which is a 35-mile natural gas gathering system consisting of 30.3 miles of 12 inch pipeline 1.4 miles of 20 inch pipeline and 3.1 miles of 24 inch pipeline that provides producers access to its processing plants and to the Minden Plant with available capacity of 400 MMcf/d to its processing plants and 50 MMcf/d to the Minden Plant and PennTex Residue Gas Pipeline which is a one mile 24 inch residue natural gas header with 400 MMcf/d of capacity that provides market access for residue natural gas from the Lincoln Parish Plant for delivery to third-party pipelines.

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