BMO Capital Markets set a $20.00 price objective on Rice Midstream Partners LP (NYSE:RMP) in a research note published on Tuesday morning. The brokerage currently has a buy rating on the oil and gas producer’s stock.
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 for the company. in a research note on Wednesday, June 21st. Drexel Hamilton cut Rice Midstream Partners from a buy rating to a hold rating in a research note on Monday, June 19th. BidaskClub upgraded Rice Midstream Partners from a strong sell rating to a sell rating in a research note on Thursday, June 29th. Zacks Investment Research upgraded Rice Midstream Partners from a sell rating to a hold rating in a research note on Thursday, August 10th. Finally, Scotiabank restated a hold rating on shares of Rice Midstream Partners in a research note on Tuesday. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. Rice Midstream Partners has a consensus rating of Hold and an average target price of $21.63.
Shares of Rice Midstream Partners (NYSE:RMP) traded down 1.16% during midday trading on Tuesday, hitting $21.31. 324,840 shares of the stock were exchanged. The firm has a 50 day moving average of $21.05 and a 200-day moving average of $22.27. The company has a market cap of $2.18 billion, a price-to-earnings ratio of 15.08 and a beta of 1.30. 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, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.09. Rice Midstream Partners had a return on equity of 12.71% and a net margin of 58.22%. The business had revenue of $72.38 million during the quarter, compared to analysts’ expectations of $58.20 million. During the same quarter in the prior year, the business earned $0.38 earnings per share. The company’s quarterly revenue was up 55.5% compared to the same quarter last year. Equities analysts expect that Rice Midstream Partners will post $1.43 EPS for the current year.
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A number of hedge funds have recently made changes to their positions in RMP. First Trust Advisors LP acquired a new position in Rice Midstream Partners during the first quarter worth $846,000. BNP Paribas Arbitrage SA acquired a new position in Rice Midstream Partners during the first quarter worth $116,000. Ameritas Investment Partners Inc. acquired a new position in Rice Midstream Partners during the first quarter worth $229,000. SG Americas Securities LLC acquired a new position in Rice Midstream Partners during the first quarter worth $936,000. Finally, Alliancebernstein L.P. grew its holdings in Rice Midstream Partners by 40.6% during the first quarter. Alliancebernstein L.P. now owns 13,351 shares of the oil and gas producer’s stock worth $337,000 after acquiring an additional 3,855 shares during the period.
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.
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