Rice Midstream Partners LP (NYSE:RMP) Downgraded to C+ at TheStreet

Rice Midstream Partners LP (NYSE:RMP) was downgraded by research analysts at TheStreet from a “b-” rating to a “c+” rating in a research note issued on Friday.

A number of other research firms also recently issued reports on RMP. Scotiabank reissued a “buy” rating and set a $28.00 price target on shares of Rice Midstream Partners in a research report on Monday, April 3rd. Wells Fargo & Company raised Rice Midstream Partners from a “market perform” rating to an “outperform” rating in a research report on Monday. SunTrust Banks, Inc. downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating and dropped their price target for the stock from $28.00 to $21.00 in a research report on Monday, June 19th. Royal Bank Of Canada downgraded Rice Midstream Partners from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $32.00 to $21.00 in a research report on Tuesday, June 20th. Finally, BidaskClub downgraded Rice Midstream Partners from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $24.22.

Shares of Rice Midstream Partners (NYSE RMP) traded up 2.49% during mid-day trading on Friday, hitting $20.96. 541,336 shares of the stock were exchanged. The stock’s 50 day moving average is $23.23 and its 200 day moving average is $24.18. Rice Midstream Partners has a 12 month low of $16.87 and a 12 month high of $26.42. The firm has a market cap of $2.14 billion, a P/E ratio of 15.38 and a beta of 1.31.

Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Rice Midstream Partners had a return on equity of 12.79% and a net margin of 58.46%. The business had revenue of $62.75 million for the quarter, compared to the consensus estimate of $56.64 million. Analysts expect that Rice Midstream Partners will post $1.39 EPS for the current fiscal year.

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A number of large investors have recently modified their holdings of the company. UBS Group AG boosted its position in shares of Rice Midstream Partners by 379.5% in the first quarter. UBS Group AG now owns 1,643,365 shares of the oil and gas producer’s stock valued at $41,446,000 after buying an additional 1,300,621 shares during the last quarter. Brookfield Asset Management Inc. boosted its position in shares of Rice Midstream Partners by 94.7% in the first quarter. Brookfield Asset Management Inc. now owns 2,098,371 shares of the oil and gas producer’s stock valued at $52,921,000 after buying an additional 1,020,490 shares during the last quarter. HITE Hedge Asset Management LLC boosted its position in shares of Rice Midstream Partners by 200.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 1,121,873 shares of the oil and gas producer’s stock valued at $27,576,000 after buying an additional 748,125 shares during the last quarter. Clearbridge Investments LLC boosted its position in shares of Rice Midstream Partners by 55.4% in the first quarter. Clearbridge Investments LLC now owns 1,951,816 shares of the oil and gas producer’s stock valued at $49,225,000 after buying an additional 695,930 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Rice Midstream Partners by 338.8% in the second quarter. Bank of Montreal Can now owns 783,300 shares of the oil and gas producer’s stock valued at $15,619,000 after buying an additional 604,781 shares during the last quarter.

Rice Midstream Partners Company Profile

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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