Zacks Investment Research downgraded shares of Rice Midstream Partners LP (NYSE:RMP) from a strong-buy rating to a hold rating in a report issued on Friday morning.

According to Zacks, “Rice Midstream Partners LP is a midstream energy company. It owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company’s revenues come from natural-gas gathering services and compression services. Rice Midstream Partners LP is headquartered in United States. “

RMP has been the subject of a number of other reports. Stifel Nicolaus lowered shares of Rice Midstream Partners from a buy rating to a hold rating in a report on Friday, August 26th. TheStreet raised shares of Rice Midstream Partners from a sell rating to a hold rating in a report on Tuesday, August 23rd. Mitsubishi UFJ Financial Group reiterated an overweight rating on shares of Rice Midstream Partners in a research note on Thursday, September 1st. Goldman Sachs Group Inc. downgraded shares of Rice Midstream Partners from a buy rating to a not rated rating in a research note on Wednesday, September 28th. Finally, Barclays PLC increased their price objective on shares of Rice Midstream Partners from $22.00 to $24.00 and gave the company an overweight rating in a research note on Monday, August 8th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $20.75.

Shares of Rice Midstream Partners (NYSE:RMP) traded down 2.47% on Friday, hitting $23.66. 23,176 shares of the stock were exchanged. The firm’s 50 day moving average price is $21.91 and its 200 day moving average price is $18.75. Rice Midstream Partners has a one year low of $8.40 and a one year high of $24.30. The firm has a market cap of $1.92 billion, a price-to-earnings ratio of 18.41 and a beta of 1.35.

Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.12. The business earned $46.55 million during the quarter, compared to analyst estimates of $39.23 million. Rice Midstream Partners had a net margin of 57.23% and a return on equity of 15.87%. The business’s revenue was up 63.0% on a year-over-year basis. During the same period last year, the business earned $0.21 EPS. Equities analysts anticipate that Rice Midstream Partners will post ($0.13) earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its position in shares of Rice Midstream Partners by 3.9% in the first quarter. State Street Corp now owns 26,293 shares of the company’s stock valued at $391,000 after buying an additional 983 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Rice Midstream Partners by 10.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,128 shares of the company’s stock valued at $248,000 after buying an additional 1,144 shares in the last quarter. Usca Ria LLC boosted its position in shares of Rice Midstream Partners by 11.7% in the second quarter. Usca Ria LLC now owns 28,750 shares of the company’s stock valued at $587,000 after buying an additional 3,000 shares in the last quarter. Pointe Capital Management LLC boosted its position in shares of Rice Midstream Partners by 9.6% in the second quarter. Pointe Capital Management LLC now owns 56,354 shares of the company’s stock valued at $1,151,000 after buying an additional 4,926 shares in the last quarter. Finally, Creative Planning acquired a new position in shares of Rice Midstream Partners during the second quarter valued at about $112,000. 94.44% of the stock is currently owned by hedge funds and other institutional investors.

Rice Midstream Partners Company Profile

Rice Midstream Partners LP owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company operates in two segments: gathering and compression, and water services. The gathering and compression segment provides natural gas gathering and compression services for Rice Energy Inc (Rice Energy) and third parties in the Appalachian Basin.

5 Day Chart for NYSE:RMP

Receive News & Stock Ratings for Rice Midstream Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rice Midstream Partners LP and related stocks with our FREE daily email newsletter.