Zacks Investment Research Lowers Rice Midstream Partners LP (RMP) to Hold
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 equities research analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. cut shares of Rice Midstream Partners from a buy rating to a not rated rating in a report on Wednesday, September 28th. Drexel Hamilton assumed coverage on shares of Rice Midstream Partners in a report on Tuesday, August 16th. They issued a buy rating on the stock. Barclays PLC upped their price target 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. Stifel Nicolaus cut shares of Rice Midstream Partners from a buy rating to a hold rating in a report on Friday, August 26th. Finally, Mitsubishi UFJ Financial Group reaffirmed an overweight rating on shares of Rice Midstream Partners in a report on Thursday, September 1st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Rice Midstream Partners currently has an average rating of Buy and a consensus price target of $20.75.
Shares of Rice Midstream Partners (NYSE:RMP) opened at 23.52 on Friday. The firm has a 50-day moving average price of $22.12 and a 200 day moving average price of $19.00. Rice Midstream Partners has a 1-year low of $8.40 and a 1-year high of $24.30. The company has a market cap of $1.91 billion, a price-to-earnings ratio of 18.30 and a beta of 1.35.
Rice Midstream Partners (NYSE:RMP) last issued its earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. Rice Midstream Partners had a net margin of 57.23% and a return on equity of 15.87%. The business had revenue of $46.55 million for the quarter, compared to analysts’ expectations of $39.23 million. During the same quarter in the previous year, the firm posted $0.21 EPS. The business’s revenue for the quarter was up 63.0% compared to the same quarter last year. On average, analysts predict that Rice Midstream Partners will post ($0.13) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teilinger Capital Ltd. purchased a new position in Rice Midstream Partners during the second quarter worth approximately $1,552,000. Pointe Capital Management LLC raised its stake in Rice Midstream Partners by 9.6% in the second quarter. Pointe Capital Management LLC now owns 56,354 shares of the company’s stock valued at $1,151,000 after buying an additional 4,926 shares during the last quarter. Bank of Montreal Can acquired a new stake in Rice Midstream Partners during the second quarter valued at about $2,717,000. First Western Capital Management Co acquired a new stake in Rice Midstream Partners during the second quarter valued at about $1,649,000. Finally, Creative Planning acquired a new stake in Rice Midstream Partners during the second quarter valued at about $112,000. 94.44% of the stock is currently 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.
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