Oppenheimer Asset Management Inc. Buys New Position in Rice Midstream Partners LP (NYSE:RMP)

Oppenheimer Asset Management Inc. acquired a new position in shares of Rice Midstream Partners LP (NYSE:RMP) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,619 shares of the oil and gas producer’s stock, valued at approximately $268,000.

A number of other large investors also recently modified their holdings of the stock. Morgan Stanley boosted its stake in Rice Midstream Partners by 7.2% in the first quarter. Morgan Stanley now owns 3,492,377 shares of the oil and gas producer’s stock worth $88,078,000 after buying an additional 235,377 shares during the period. UBS Group AG boosted its stake in Rice Midstream Partners by 379.5% in 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 buying an additional 1,300,621 shares during the period. Global X Management Co. LLC boosted its stake in Rice Midstream Partners by 3.1% in the first quarter. Global X Management Co. LLC now owns 19,059 shares of the oil and gas producer’s stock worth $481,000 after buying an additional 565 shares during the period. Alliancebernstein L.P. boosted its stake in Rice Midstream Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 13,351 shares of the oil and gas producer’s stock worth $337,000 after buying an additional 3,855 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH boosted its stake in Rice Midstream Partners by 3.1% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 625,700 shares of the oil and gas producer’s stock worth $15,780,000 after buying an additional 19,000 shares during the period.

Shares of Rice Midstream Partners LP (NYSE:RMP) traded down 0.34% on Friday, reaching $20.44. The company had a trading volume of 309,718 shares. The firm has a market capitalization of $2.09 billion, a P/E ratio of 15.00 and a beta of 1.31. Rice Midstream Partners LP has a 52 week low of $16.87 and a 52 week high of $26.42. The company’s 50-day moving average price is $20.43 and its 200 day moving average price is $23.74.

Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings data 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. The firm had revenue of $72.38 million during the quarter, compared to the consensus estimate of $58.20 million. Rice Midstream Partners had a return on equity of 13.24% and a net margin of 58.22%. The firm’s revenue was up 55.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. On average, analysts expect that Rice Midstream Partners LP will post $1.39 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Tuesday, August 8th will be paid a dividend of $0.2711 per share. The ex-dividend date is Friday, August 4th. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 5.31%. Rice Midstream Partners’s dividend payout ratio is currently 67.53%.

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A number of research firms have commented on RMP. Zacks Investment Research upgraded Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Wednesday, May 3rd. TheStreet upgraded Rice Midstream Partners from a “c+” rating to a “b” rating in a research note on Friday, April 21st. Scotiabank set a $29.00 price target on Rice Midstream Partners and gave the company a “buy” rating in a research note on Saturday, April 22nd. Drexel Hamilton cut Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Finally, Wells Fargo & Company cut Rice Midstream Partners from an “outperform” rating to a “market perform” rating in a research note on Monday, June 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $24.22.

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.

Institutional Ownership by Quarter for Rice Midstream Partners (NYSE:RMP)

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