Rice Midstream Partners LP (NYSE:RMP) was downgraded by analysts at SunTrust Banks, Inc. from a “buy” rating to a “hold” rating in a report issued on Monday, The Fly reports.

Several other research firms have also issued reports on RMP. Scotiabank restated a “buy” rating and issued a $28.00 target price on shares of Rice Midstream Partners in a report on Monday, April 3rd. TheStreet upgraded shares of Rice Midstream Partners from a “c+” rating to a “b” rating in a report on Friday, April 21st. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, May 3rd. Johnson Rice initiated coverage on shares of Rice Midstream Partners in a report on Thursday, March 23rd. They issued an “accumulate” rating for the company. Finally, Stifel Nicolaus restated a “hold” rating and issued a $25.00 target price (up previously from $23.00) on shares of Rice Midstream Partners in a report on Monday, February 27th. Five investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $27.67.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

Rice Midstream Partners (RMP) traded down 24.43% during trading on Monday, hitting $18.41. 2,762,041 shares of the company’s stock were exchanged. Rice Midstream Partners has a 52-week low of $18.05 and a 52-week high of $26.42. The firm has a 50 day moving average price of $24.99 and a 200 day moving average price of $24.39. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 13.51 and a beta of 1.29.

Rice Midstream Partners (NYSE:RMP) last released its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $62.75 million during the quarter, compared to analyst estimates of $56.64 million. Rice Midstream Partners had a net margin of 58.46% and a return on equity of 12.79%. On average, equities research analysts predict that Rice Midstream Partners will post $1.49 earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: “Rice Midstream Partners LP (RMP) Downgraded to “Hold” at SunTrust Banks, Inc.” was first published by American Banking News and is the sole property of of American Banking News. If you are reading this news story on another website, it was stolen and reposted in violation of US and international copyright & trademark laws. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/06/19/rice-midstream-partners-lp-rmp-downgraded-to-hold-at-suntrust-banks-inc.html.

A number of large investors have recently made changes to their positions in RMP. JPMorgan Chase & Co. raised its stake in shares of Rice Midstream Partners by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 1,214,666 shares of the oil and gas producer’s stock worth $30,633,000 after buying an additional 358,460 shares during the last quarter. Brookfield Asset Management Inc. raised its stake in shares of 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 raised its stake 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 worth $27,576,000 after buying an additional 748,125 shares during the last quarter. Heronetta Management L.P. raised its stake in shares of Rice Midstream Partners by 71.0% in the first quarter. Heronetta Management L.P. now owns 59,500 shares of the oil and gas producer’s stock worth $1,501,000 after buying an additional 24,700 shares during the last quarter. Finally, NBW Capital LLC bought a new stake in shares of Rice Midstream Partners during the first quarter worth $456,000.

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.

The Fly

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.