Rice Midstream Partners LP (NYSE:RMP) was downgraded by equities researchers at Goldman Sachs Group, Inc. (The) from a “buy” rating to a “neutral” rating in a report issued on Friday, Marketbeat.com reports. They presently have a $23.00 price objective on the oil and gas producer’s stock. Goldman Sachs Group, Inc. (The)’s target price points to a potential upside of 11.33% from the company’s current price.

Other equities research analysts have also recently issued research reports about the company. Mitsubishi UFJ Financial Group cut Rice Midstream Partners from an “overweight” rating to a “neutral” rating and set a $23.00 price target on the stock. in a report on Wednesday, June 21st. Drexel Hamilton cut Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, June 19th. BidaskClub raised Rice Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Zacks Investment Research raised Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Finally, Wells Fargo & Company cut Rice Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, June 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $23.00.

Rice Midstream Partners (NYSE RMP) traded down 1.20% during trading on Friday, reaching $20.66. The company’s stock had a trading volume of 338,562 shares. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 14.62 and a beta of 1.31. The firm has a 50 day moving average of $20.33 and a 200 day moving average of $22.92. Rice Midstream Partners has a 52 week low of $16.87 and a 52 week high of $26.42.

Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.09. The company had revenue of $72.38 million for the quarter, compared to analysts’ expectations of $58.20 million. Rice Midstream Partners had a return on equity of 12.71% and a net margin of 58.22%. The business’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 earnings per share. Analysts expect that Rice Midstream Partners will post $1.43 EPS for the current year.

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A number of large investors have recently made changes to their positions in RMP. Goldman Sachs Group Inc. raised its holdings in Rice Midstream Partners by 25.9% during the second quarter. Goldman Sachs Group Inc. now owns 7,501,148 shares of the oil and gas producer’s stock worth $149,573,000 after purchasing an additional 1,541,392 shares in the last quarter. UBS Group AG raised its holdings in Rice Midstream Partners by 379.5% during the first quarter. UBS Group AG now owns 1,643,365 shares of the oil and gas producer’s stock worth $41,446,000 after purchasing an additional 1,300,621 shares in the last quarter. Brookfield Asset Management Inc. raised its holdings in Rice Midstream Partners by 94.7% during the first quarter. Brookfield Asset Management Inc. now owns 2,098,371 shares of the oil and gas producer’s stock worth $52,921,000 after purchasing an additional 1,020,490 shares in the last quarter. Tortoise Capital Advisors L.L.C. raised its holdings in Rice Midstream Partners by 10.7% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,184,689 shares of the oil and gas producer’s stock worth $163,203,000 after purchasing an additional 788,842 shares in the last quarter. Finally, Clearbridge Investments LLC raised its holdings in Rice Midstream Partners by 55.4% during the first quarter. Clearbridge Investments LLC now owns 1,951,816 shares of the oil and gas producer’s stock worth $49,225,000 after purchasing an additional 695,930 shares in 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.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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