Rice Midstream Partners LP (NYSE:RMP) was downgraded by stock analysts at Wells Fargo & Company from an “outperform” rating to a “market perform” rating in a research note issued to investors on Monday, June 19th, Marketbeat Ratings reports.

RMP has been the subject of several other research reports. Johnson Rice began coverage on Rice Midstream Partners in a research report on Thursday, March 23rd. They issued an “accumulate” rating for the company. TheStreet upgraded Rice Midstream Partners from a “c+” rating to a “b” rating in a research report on Friday, April 21st. Zacks Investment Research upgraded Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, May 3rd. Scotiabank set a $29.00 price objective on Rice Midstream Partners and gave the company a “buy” rating in a research report on Saturday, April 22nd. Finally, SunTrust Banks, Inc. downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating and cut their price objective for the company from $28.00 to $21.00 in a research report on Monday, June 19th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $25.00.

Shares of Rice Midstream Partners (RMP) traded up 4.413% during midday trading on Monday, reaching $19.285. The company’s stock had a trading volume of 1,451,235 shares. Rice Midstream Partners has a 52-week low of $16.87 and a 52-week high of $26.42. The stock has a 50 day moving average price of $24.56 and a 200-day moving average price of $24.39. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 14.149 and a beta of 1.29.

Rice Midstream Partners (NYSE:RMP) last posted its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.36 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $62.75 million during the quarter, compared to the consensus estimate of $56.64 million. Rice Midstream Partners had a return on equity of 12.79% and a net margin of 58.46%. Equities research analysts expect that Rice Midstream Partners will post $1.46 EPS for the current year.

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Several large investors have recently made changes to their positions in RMP. BNP Paribas Arbitrage SA bought a new stake in shares of Rice Midstream Partners during the first quarter worth approximately $116,000. Proficio Capital Partners LLC bought a new stake in shares of Rice Midstream Partners during the first quarter worth approximately $220,000. Ameritas Investment Partners Inc. bought a new stake in shares of Rice Midstream Partners during the first quarter worth approximately $229,000. Oppenheimer Asset Management Inc. bought a new stake in shares of Rice Midstream Partners during the first quarter worth approximately $268,000. Finally, Level Four Advisory Services LLC bought a new stake in shares of Rice Midstream Partners during the first quarter worth approximately $304,000.

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.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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