Rice Midstream Partners LP (RMP) Downgraded to Hold at Zacks Investment Research
Rice Midstream Partners LP (NYSE:RMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
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. “
A number of other research analysts have also recently issued reports on the company. Goldman Sachs Group, Inc. (The) cut Rice Midstream Partners from a “buy” rating to a “neutral” rating and decreased their target price for the company from $27.00 to $23.00 in a research note on Friday, September 8th. Canaccord Genuity reissued a “buy” rating on shares of Rice Midstream Partners in a research note on Monday, September 4th. AltaCorp Capital reissued a “hold” rating on shares of Rice Midstream Partners in a research note on Monday, September 4th. ValuEngine cut Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, Stifel Nicolaus set a $19.00 price target on Rice Midstream Partners and gave the company a “hold” rating in a report on Friday, August 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the company. Rice Midstream Partners currently has an average rating of “Hold” and an average target price of $22.44.
Shares of Rice Midstream Partners (NYSE:RMP) opened at 21.40 on Tuesday. The company has a 50-day moving average price of $20.41 and a 200 day moving average price of $22.75. The stock has a market capitalization of $2.19 billion, a P/E ratio of 15.15 and a beta of 1.31. Rice Midstream Partners has a 52 week low of $16.87 and a 52 week high of $26.42.
Rice Midstream Partners (NYSE:RMP) last posted its earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 previous year, the firm earned $0.38 earnings per share. The company’s revenue was up 55.5% on a year-over-year basis. Analysts forecast that Rice Midstream Partners will post $1.43 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMP. BNP Paribas Arbitrage SA bought a new stake in Rice Midstream Partners during the first quarter worth about $116,000. Proficio Capital Partners LLC bought a new stake in Rice Midstream Partners during the first quarter worth about $220,000. Ameritas Investment Partners Inc. bought a new stake in Rice Midstream Partners during the first quarter worth about $229,000. Oppenheimer Asset Management Inc. bought a new stake in Rice Midstream Partners during the first quarter worth about $268,000. Finally, Alliancebernstein L.P. raised its holdings in Rice Midstream Partners by 5.9% during the second quarter. Alliancebernstein L.P. now owns 14,143 shares of the oil and gas producer’s stock worth $282,000 after acquiring an additional 792 shares in the last quarter.
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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