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

Rice Midstream Partners LP (NYSE:RMP) was downgraded by investment analysts at TheStreet from a “b-” rating to a “c+” rating in a research report issued on Friday, July 14th.

RMP has been the subject of several other reports. Scotiabank set a $29.00 price target on shares of Rice Midstream Partners and gave the stock a “buy” rating in a research note on Saturday, April 22nd. Johnson Rice downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Drexel Hamilton downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. ValuEngine raised shares of Rice Midstream Partners from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $19.00 price objective (down from $25.00) on shares of Rice Midstream Partners in a research note on Tuesday, June 20th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $23.78.

Rice Midstream Partners (NYSE:RMP) opened at 19.68 on Friday. The company’s 50-day moving average price is $20.22 and its 200 day moving average price is $23.54. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.93 and a beta of 1.31. Rice Midstream Partners has a 12 month low of $16.87 and a 12 month high of $26.42.

Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.09. The business had revenue of $72.38 million during the quarter, compared to the consensus estimate of $58.20 million. Rice Midstream Partners had a net margin of 58.22% and a return on equity of 12.71%. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. Analysts forecast that Rice Midstream Partners will post $1.41 EPS for the current fiscal year.

TRADEMARK VIOLATION WARNING: “TheStreet Downgrades Rice Midstream Partners LP (NYSE:RMP) to C+” was first published by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another publication, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this news story can be viewed at https://www.com-unik.info/2017/08/12/rice-midstream-partners-lp-nysermp-downgraded-to-c-at-thestreet-updated-updated-updated.html.

A number of institutional investors have recently added to or reduced their stakes in RMP. Guggenheim Capital LLC increased its position in Rice Midstream Partners by 14.0% in the fourth quarter. Guggenheim Capital LLC now owns 90,611 shares of the oil and gas producer’s stock worth $2,227,000 after buying an additional 11,099 shares during the last quarter. Brookfield Asset Management Inc. increased its position in Rice Midstream Partners by 3.9% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,077,881 shares of the oil and gas producer’s stock worth $26,494,000 after buying an additional 40,551 shares during the last quarter. HITE Hedge Asset Management LLC increased its position in 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 worth $27,576,000 after buying an additional 748,125 shares during the last quarter. Bank of Montreal Can bought a new position in Rice Midstream Partners during the first quarter worth about $4,502,000. Finally, Spirit of America Management Corp NY increased its position in Rice Midstream Partners by 10.8% in the first quarter. Spirit of America Management Corp NY now owns 1,060,734 shares of the oil and gas producer’s stock worth $26,752,000 after buying an additional 103,042 shares during 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.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

What are top analysts saying about Rice Midstream Partners LP? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Rice Midstream Partners LP and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit