Rice Midstream Partners LP (NYSE:RMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Saturday. The firm presently has a $24.00 target price on the oil and gas producer’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.37% from the stock’s previous close.

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 topic of several other reports. ValuEngine lowered Rice Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) lowered Rice Midstream Partners from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $27.00 to $23.00 in a research report on Friday, September 8th. Scotiabank set a $22.00 price target on Rice Midstream Partners and gave the stock a “hold” rating in a research report on Saturday, July 22nd. Wells Fargo & Company upgraded Rice Midstream Partners from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Finally, BidaskClub lowered Rice Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating and four have given a buy rating to the company’s stock. Rice Midstream Partners has a consensus rating of “Hold” and a consensus target price of $22.44.

Shares of Rice Midstream Partners (NYSE:RMP) opened at 21.17 on Friday. The stock has a 50 day moving average price of $20.39 and a 200-day moving average price of $22.81. Rice Midstream Partners has a 1-year low of $16.87 and a 1-year high of $26.42. The company has a market cap of $2.17 billion, a P/E ratio of 14.98 and a beta of 1.31.

Rice Midstream Partners (NYSE:RMP) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.42 EPS for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.09. The firm had revenue of $72.38 million for the quarter, compared to analyst estimates of $58.20 million. Rice Midstream Partners had a return on equity of 12.71% and a net margin of 58.22%. The business’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same period last year, the company earned $0.38 EPS. Analysts predict that Rice Midstream Partners will post $1.43 earnings per share for the current fiscal year.

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Institutional investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA acquired a new stake in Rice Midstream Partners during the 1st quarter worth $116,000. Proficio Capital Partners LLC acquired a new stake in Rice Midstream Partners during the 1st quarter worth $220,000. Ameritas Investment Partners Inc. acquired a new stake in Rice Midstream Partners during the 1st quarter worth $229,000. Oppenheimer Asset Management Inc. acquired a new stake in Rice Midstream Partners during the 1st quarter worth $268,000. Finally, Alliancebernstein L.P. raised its stake in Rice Midstream Partners by 5.9% during the 2nd quarter. Alliancebernstein L.P. now owns 14,143 shares of the oil and gas producer’s stock worth $282,000 after buying an additional 792 shares during the period.

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.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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