Brokerages Set Sanchez Production Partners LP (SPP) PT at $15.33

Sanchez Production Partners LP (NYSEMKT:SPP) has earned an average rating of “Buy” from the six analysts that are currently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $15.33.

Separately, Zacks Investment Research lowered Sanchez Production Partners from a “buy” rating to a “hold” rating in a report on Friday, May 5th.

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A hedge fund recently bought a new stake in Sanchez Production Partners stock. Bank of Montreal Can purchased a new position in Sanchez Production Partners LP (NYSEMKT:SPP) during the second quarter, according to its most recent filing with the SEC. The institutional investor purchased 24,000 shares of the company’s stock, valued at approximately $308,000.

Shares of Sanchez Production Partners (NYSEMKT:SPP) opened at 14.00 on Tuesday. Sanchez Production Partners has a 12 month low of $9.76 and a 12 month high of $15.92. The stock has a 50 day moving average price of $14.23 and a 200 day moving average price of $13.30.

About Sanchez Production Partners

Sanchez Midstream Partners LP, formerly Sanchez Production Partners LP, is focused on the acquisition, development, ownership and operation of midstream and other energy producing assets. The Company operates through two segments: the exploration and production of oil and natural gas, and the midstream business, which includes the Catarina gathering system.

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