Zacks Investment Research upgraded shares of Rice Midstream Partners LP (NYSE:RMP) from a hold rating to a strong-buy rating in a research note released on Tuesday morning. Zacks Investment Research currently has $24.00 price objective on the oil and gas producer’s stock.

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. “

Several other research firms also recently weighed in on RMP. ValuEngine downgraded shares of Rice Midstream Partners from a buy rating to a hold rating in a research report on Friday, September 1st. Goldman Sachs Group, Inc. (The) downgraded shares of Rice Midstream Partners from a buy rating to a neutral rating and decreased 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 shares of Rice Midstream Partners and gave the stock a hold rating in a research report on Saturday, July 22nd. Wells Fargo & Company upgraded shares of Rice Midstream Partners from a market perform rating to an outperform rating in a research report on Monday, July 17th. Finally, BidaskClub downgraded shares of Rice Midstream Partners from a sell rating to a strong sell rating in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company’s stock. Rice Midstream Partners presently has an average rating of Hold and an average target price of $21.63.

Rice Midstream Partners (RMP) traded up $0.08 on Tuesday, reaching $21.09. 181,558 shares of the company’s stock traded hands, compared to its average volume of 460,441. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.18. Rice Midstream Partners has a fifty-two week low of $16.87 and a fifty-two week high of $26.42. The company has a market capitalization of $2,160.00 and a P/E ratio of 12.48.

Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings results on Thursday, November 2nd. The oil and gas producer reported $0.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.11. Rice Midstream Partners had a net margin of 59.24% and a return on equity of 13.59%. The business had revenue of $81.70 million for the quarter, compared to the consensus estimate of $65.25 million. During the same period last year, the firm earned $0.30 earnings per share. The company’s quarterly revenue was up 98.8% on a year-over-year basis. research analysts expect that Rice Midstream Partners will post 1.52 earnings per share for the current year.

TRADEMARK VIOLATION NOTICE: This story was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another site, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark laws. The original version of this story can be read at https://www.thecerbatgem.com/2017/11/10/rice-midstream-partners-lp-rmp-upgraded-at-zacks-investment-research.html.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Tuesday, November 7th will be paid a $0.2814 dividend. The ex-dividend date is Monday, November 6th. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.27. This represents a $1.13 dividend on an annualized basis and a dividend yield of 5.34%. Rice Midstream Partners’s dividend payout ratio is 71.52%.

Several hedge funds and other institutional investors have recently made changes to their positions in RMP. Goldman Sachs Group Inc. increased its stake in shares of Rice Midstream Partners by 25.9% in the second quarter. Goldman Sachs Group Inc. now owns 7,501,148 shares of the oil and gas producer’s stock worth $149,573,000 after purchasing an additional 1,541,392 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Rice Midstream Partners by 93.6% during the third quarter. JPMorgan Chase & Co. now owns 2,324,660 shares of the oil and gas producer’s stock valued at $48,283,000 after acquiring an additional 1,124,064 shares in the last quarter. ING Groep NV grew its stake in Rice Midstream Partners by 905.1% during the third quarter. ING Groep NV now owns 1,017,204 shares of the oil and gas producer’s stock valued at $21,300,000 after acquiring an additional 916,000 shares in the last quarter. Tortoise Capital Advisors L.L.C. grew its stake in Rice Midstream Partners by 10.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,184,689 shares of the oil and gas producer’s stock valued at $163,203,000 after acquiring an additional 788,842 shares in the last quarter. Finally, Alps Advisors Inc. grew its stake in Rice Midstream Partners by 11.3% during the third quarter. Alps Advisors Inc. now owns 5,973,792 shares of the oil and gas producer’s stock valued at $125,091,000 after acquiring an additional 607,938 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.

Get a free copy of the Zacks research report on Rice Midstream Partners (RMP)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Rice Midstream Partners (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.