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 Wednesday morning. The brokerage currently has $24.00 price objective on the 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. “

Other analysts also recently issued research reports about the stock. Drexel Hamilton initiated coverage on shares of Rice Midstream Partners in a report on Tuesday, August 16th. They set a buy rating on the stock. Barclays PLC boosted their price objective on shares of Rice Midstream Partners from $22.00 to $24.00 and gave the stock an overweight rating in a report on Monday, August 8th. Mitsubishi UFJ Financial Group reissued an overweight rating on shares of Rice Midstream Partners in a report on Thursday, September 1st. TheStreet raised shares of Rice Midstream Partners from a sell rating to a hold rating in a report on Tuesday, August 23rd. Finally, Stifel Nicolaus downgraded shares of Rice Midstream Partners from a buy rating to a hold rating in a report on Friday, August 26th. Two equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $20.75.

Shares of Rice Midstream Partners (NYSE:RMP) opened at 20.97 on Wednesday. The stock has a market cap of $1.70 billion, a PE ratio of 16.32 and a beta of 1.36. The stock has a 50 day moving average of $21.44 and a 200 day moving average of $18.25. Rice Midstream Partners has a 1-year low of $8.40 and a 1-year high of $23.67.

Rice Midstream Partners (NYSE:RMP) last issued its earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The business had revenue of $46.55 million for the quarter, compared to the consensus estimate 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 quarterly revenue was up 63.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. Equities research analysts forecast that Rice Midstream Partners will post ($0.13) EPS for the current year.

Several institutional investors have recently bought and sold shares of the stock. Harvest Fund Advisors LLC raised its position in Rice Midstream Partners by 18.0% in the second quarter. Harvest Fund Advisors LLC now owns 8,419,408 shares of the company’s stock worth $172,009,000 after buying an additional 1,283,932 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Rice Midstream Partners by 36.5% in the first quarter. Goldman Sachs Group Inc. now owns 3,601,348 shares of the company’s stock worth $53,624,000 after buying an additional 962,235 shares in the last quarter. Eagle Global Advisors LLC raised its position in Rice Midstream Partners by 175.9% in the second quarter. Eagle Global Advisors LLC now owns 1,394,129 shares of the company’s stock worth $28,482,000 after buying an additional 888,860 shares in the last quarter. Duff & Phelps Investment Management Co. purchased a new position in Rice Midstream Partners during the second quarter worth $12,632,000. Finally, Cohen & Steers Inc. raised its position in Rice Midstream Partners by 41.1% in the second quarter. Cohen & Steers Inc. now owns 1,714,632 shares of the company’s stock worth $35,030,000 after buying an additional 499,026 shares in the last quarter. 94.44% of the stock is owned by institutional investors and hedge funds.

About Rice Midstream Partners

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

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

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.