Rice Midstream Partners LP (RMP) PT Raised to $29.00 at Howard Weil
Rice Midstream Partners LP (NYSE:RMP) had its price objective raised by Howard Weil from $27.00 to $29.00 in a report issued on Tuesday. The firm presently has a “sector outperform” rating on the stock. Howard Weil’s price objective would suggest a potential upside of 27.19% from the company’s current price.
RMP has been the topic of a number of other research reports. Zacks Investment Research downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, July 20th. Goldman Sachs Group Inc. downgraded Rice Midstream Partners from a “buy” rating to a “not rated” rating in a research note on Wednesday, September 28th. Barclays PLC upped their price objective on Rice Midstream Partners from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Monday, August 8th. Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of Rice Midstream Partners in a research note on Thursday, September 1st. Finally, Drexel Hamilton assumed coverage on Rice Midstream Partners in a research note on Tuesday, August 16th. They issued a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $22.00.
Shares of Rice Midstream Partners (NYSE:RMP) opened at 22.80 on Tuesday. The firm has a market cap of $1.85 billion, a P/E ratio of 17.74 and a beta of 1.35. The firm has a 50 day moving average price of $22.23 and a 200-day moving average price of $19.22. Rice Midstream Partners has a one year low of $8.40 and a one year high of $24.30.
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Rice Midstream Partners (NYSE:RMP) last announced its earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. Rice Midstream Partners had a return on equity of 15.87% and a net margin of 57.23%. The firm had revenue of $46.55 million for the quarter, compared to the consensus estimate of $39.23 million. During the same quarter in the previous year, the business earned $0.21 EPS. The company’s revenue was up 63.0% compared to the same quarter last year. Analysts forecast that Rice Midstream Partners will post ($0.13) earnings per share for the current year.
A number of large investors have recently modified their holdings of RMP. Creative Planning acquired a new stake in shares of Rice Midstream Partners during the second quarter worth about $112,000. Janney Montgomery Scott LLC purchased a new position in Rice Midstream Partners during the second quarter valued at $185,000. BNP Paribas Arbitrage SA boosted its position in Rice Midstream Partners by 10.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,128 shares of the company’s stock valued at $248,000 after buying an additional 1,144 shares during the last quarter. Global X Management Co. LLC purchased a new position in Rice Midstream Partners during the second quarter valued at $255,000. Finally, State Street Corp boosted its position in Rice Midstream Partners by 3.9% in the first quarter. State Street Corp now owns 26,293 shares of the company’s stock valued at $391,000 after buying an additional 983 shares during the last quarter. 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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