Rice Midstream Partners (RMP) Lowered to “Hold” at Johnson Rice

Rice Midstream Partners (NYSE:RMP) was downgraded by stock analysts at Johnson Rice from an “accumulate” rating to a “hold” rating in a research note issued on Monday, The Fly reports.

Several other brokerages have also commented on RMP. Scotiabank set a $23.00 price objective on Rice Midstream Partners and gave the company a “hold” rating in a report on Saturday, November 25th. Zacks Investment Research lowered Rice Midstream Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 8th. BMO Capital Markets set a $20.00 price objective on Rice Midstream Partners and gave the company a “buy” rating in a report on Tuesday, October 10th. TheStreet raised Rice Midstream Partners from a “c” rating to a “b” rating in a report on Monday, December 18th. Finally, Canaccord Genuity reissued a “buy” rating on shares of Rice Midstream Partners in a report on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $22.00.

Shares of Rice Midstream Partners (NYSE RMP) traded down $0.56 during mid-day trading on Monday, reaching $21.32. The company had a trading volume of 766,701 shares, compared to its average volume of 440,959. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 0.95. The stock has a market capitalization of $2,230.00, a PE ratio of 13.51, a P/E/G ratio of 0.80 and a beta of 1.26. 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 issued its quarterly earnings data on Thursday, November 2nd. The oil and gas producer reported $0.48 EPS for the quarter, beating the consensus estimate of $0.37 by $0.11. Rice Midstream Partners had a return on equity of 13.59% and a net margin of 59.24%. The company had revenue of $81.70 million for the quarter, compared to analyst estimates of $65.25 million. During the same period last year, the company earned $0.30 earnings per share. Rice Midstream Partners’s quarterly revenue was up 98.8% compared to the same quarter last year. research analysts anticipate that Rice Midstream Partners will post 1.72 EPS for the current year.

Several large investors have recently modified their holdings of RMP. Bank of New York Mellon Corp boosted its stake in shares of Rice Midstream Partners by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 263,078 shares of the oil and gas producer’s stock worth $5,246,000 after acquiring an additional 1,778 shares during the last quarter. Wells Fargo & Company MN boosted its stake in shares of Rice Midstream Partners by 25.0% in the second quarter. Wells Fargo & Company MN now owns 17,202 shares of the oil and gas producer’s stock worth $343,000 after acquiring an additional 3,437 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of 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 worth $282,000 after acquiring an additional 792 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Rice Midstream Partners by 66.7% in the second quarter. PNC Financial Services Group Inc. now owns 108,956 shares of the oil and gas producer’s stock worth $2,174,000 after acquiring an additional 43,608 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Rice Midstream Partners in the second quarter worth approximately $571,000.

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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.

The Fly

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