Duff & Phelps Investment Management Co. cut its position in Rice Midstream Partners LP (NYSE:RMP) by 8.0% during the second quarter, Holdings Channel reports. The institutional investor owned 807,900 shares of the oil and gas producer’s stock after selling 70,000 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Rice Midstream Partners were worth $16,110,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. UBS Group AG increased its stake in shares of Rice Midstream Partners by 379.5% in the first quarter. UBS Group AG now owns 1,643,365 shares of the oil and gas producer’s stock worth $41,446,000 after buying an additional 1,300,621 shares in the last quarter. Brookfield Asset Management Inc. increased its stake in shares of Rice Midstream Partners by 94.7% in the first quarter. Brookfield Asset Management Inc. now owns 2,098,371 shares of the oil and gas producer’s stock worth $52,921,000 after buying an additional 1,020,490 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its stake in shares of Rice Midstream Partners by 10.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,184,689 shares of the oil and gas producer’s stock worth $163,203,000 after buying an additional 788,842 shares in the last quarter. Clearbridge Investments LLC increased its stake in shares of Rice Midstream Partners by 55.4% in the first quarter. Clearbridge Investments LLC now owns 1,951,816 shares of the oil and gas producer’s stock worth $49,225,000 after buying an additional 695,930 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Rice Midstream Partners by 338.8% in the second quarter. Bank of Montreal Can now owns 783,300 shares of the oil and gas producer’s stock worth $15,619,000 after buying an additional 604,781 shares in the last quarter.

Shares of Rice Midstream Partners LP (NYSE RMP) opened at 19.68 on Friday. The company’s 50-day moving average price is $20.22 and its 200-day moving average price is $23.54. The firm has a market capitalization of $2.01 billion, a PE ratio of 13.93 and a beta of 1.31. Rice Midstream Partners LP has a 12-month low of $16.87 and a 12-month high of $26.42.

Rice Midstream Partners (NYSE:RMP) last released its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.09. Rice Midstream Partners had a return on equity of 12.71% and a net margin of 58.22%. The firm had revenue of $72.38 million during the quarter, compared to analysts’ expectations of $58.20 million. During the same period in the prior year, the company earned $0.38 earnings per share. The company’s quarterly revenue was up 55.5% on a year-over-year basis. Analysts anticipate that Rice Midstream Partners LP will post $1.41 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Tuesday, August 8th will be issued a dividend of $0.2711 per share. The ex-dividend date is Friday, August 4th. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 5.51%. Rice Midstream Partners’s dividend payout ratio is 70.13%.

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RMP has been the subject of a number of research reports. SunTrust Banks, Inc. downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $28.00 to $21.00 in a research report on Monday, June 19th. Drexel Hamilton cut Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Zacks Investment Research raised Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, May 3rd. Wells Fargo & Company cut Rice Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, June 19th. Finally, Mitsubishi UFJ Financial Group Inc reissued a “neutral” rating on shares of Rice Midstream Partners in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. Rice Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $23.78.

About Rice Midstream Partners

Rice Midstream Partners LP owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company’s segments are 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.

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Institutional Ownership by Quarter for Rice Midstream Partners (NYSE:RMP)

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