Goldman Sachs Group Inc. lowered its stake in Penntex Midstream Partners LP (NASDAQ:PTXP) by 60.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 86,469 shares of the pipeline company’s stock after selling 132,308 shares during the period. Goldman Sachs Group Inc. owned approximately 0.21% of Penntex Midstream Partners worth $1,491,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Chevy Chase Trust Holdings Inc. acquired a new position in Penntex Midstream Partners during the first quarter valued at about $632,000. Renaissance Technologies LLC purchased a new stake in shares of Penntex Midstream Partners during the fourth quarter worth about $632,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Penntex Midstream Partners during the first quarter worth about $1,643,000. TPH Asset Management LLC purchased a new stake in shares of Penntex Midstream Partners during the first quarter worth about $5,793,000. Finally, UBS Group AG boosted 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 during the period. 55.01% of the stock is owned by institutional investors and hedge funds.
A number of brokerages recently issued reports on PTXP. Stifel Nicolaus set a $20.00 target price on Penntex Midstream Partners and gave the company a “hold” rating in a research report on Saturday, June 24th. TheStreet raised Penntex Midstream Partners from a “d+” rating to a “b-” rating in a research report on Monday, June 19th. Royal Bank Of Canada cut Penntex Midstream Partners from an “outperform” rating to a “sector perform” rating and upped their target price for the company from $19.00 to $20.00 in a research report on Friday, May 19th. Zacks Investment Research cut Penntex Midstream Partners from a “buy” rating to a “hold” rating in a research report on Thursday, May 11th. Finally, Citigroup Inc. cut Penntex Midstream Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $21.00 to $20.00 in a research report on Monday, May 22nd. Seven investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.00.
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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