Rice Midstream Partners LP (NYSE:RMP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Saturday. The brokerage presently has a $24.00 price target on the oil and gas producer’s stock. Zacks Investment Research‘s price target points to a potential upside of 13.37% from the company’s previous close.

According to Zacks, “Rice Midstream Partners LP is a midstream energy company. It owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company’s revenues come from natural-gas gathering services and compression services. Rice Midstream Partners LP is headquartered in United States. “

RMP has been the topic of several other reports. Johnson Rice cut shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. US Capital Advisors reissued a “hold” rating on shares of Rice Midstream Partners in a research note on Monday, July 17th. Drexel Hamilton cut 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 reissued a “hold” rating and set a $19.00 price target (down from $25.00) on shares of Rice Midstream Partners in a research note on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have given a buy rating to the company. Rice Midstream Partners currently has a consensus rating of “Hold” and a consensus price target of $22.44.

Shares of Rice Midstream Partners (NYSE RMP) opened at 21.17 on Friday. The company has a market cap of $2.17 billion, a PE ratio of 14.98 and a beta of 1.31. The company’s 50-day moving average price is $20.39 and its 200 day moving average price is $22.81. Rice Midstream Partners has a one year low of $16.87 and a one year 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. Rice Midstream Partners had a net margin of 58.22% and a return on equity of 12.71%. The business had revenue of $72.38 million for the quarter, compared to analysts’ expectations of $58.20 million. During the same period in the prior year, the firm earned $0.38 earnings per share. Rice Midstream Partners’s revenue was up 55.5% compared to the same quarter last year. Equities analysts forecast that Rice Midstream Partners will post $1.43 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA acquired a new position in Rice Midstream Partners in the first quarter valued at approximately $116,000. Proficio Capital Partners LLC acquired a new position in Rice Midstream Partners in the first quarter valued at approximately $220,000. Ameritas Investment Partners Inc. acquired a new position in Rice Midstream Partners in the first quarter valued at approximately $229,000. Oppenheimer Asset Management Inc. acquired a new position in Rice Midstream Partners in the first quarter valued at approximately $268,000. Finally, Alliancebernstein L.P. lifted its holdings in Rice Midstream Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 14,143 shares of the oil and gas producer’s stock valued at $282,000 after buying an additional 792 shares during the period.

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.

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Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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