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

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

Several other large investors have also recently bought and sold shares of the company. Morgan Stanley raised its position 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 increased its stake in shares of 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 in the last quarter. Kayne Anderson Capital Advisors LP increased its stake in shares of Rice Midstream Partners by 13.0% in the first quarter. Kayne Anderson Capital Advisors LP now owns 1,514,632 shares of the oil and gas producer’s stock worth $38,194,000 after buying an additional 174,200 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Rice Midstream Partners by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 1,214,666 shares of the oil and gas producer’s stock worth $30,633,000 after buying an additional 358,460 shares in the last quarter. Finally, HITE Hedge Asset Management LLC increased its stake in shares of Rice Midstream Partners by 200.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 1,121,873 shares of the oil and gas producer’s stock worth $27,576,000 after buying an additional 748,125 shares in the last quarter.

Shares of Rice Midstream Partners LP (RMP) opened at 20.01 on Wednesday. Rice Midstream Partners LP has a one year low of $16.87 and a one year high of $26.42. The firm has a 50 day moving average of $23.23 and a 200 day moving average of $24.18. The stock has a market cap of $2.05 billion, a P/E ratio of 14.68 and a beta of 1.30.

Rice Midstream Partners (NYSE:RMP) last announced its quarterly earnings data on Wednesday, May 3rd. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $62.75 million for the quarter, compared to analysts’ expectations of $56.64 million. Rice Midstream Partners had a net margin of 58.46% and a return on equity of 12.79%. On average, equities research analysts predict that Rice Midstream Partners LP will post $1.39 EPS for the current fiscal year.

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Several research firms recently weighed in on RMP. SunTrust Banks, Inc. downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating and dropped their target price for the company from $28.00 to $21.00 in a report on Monday, June 19th. Drexel Hamilton cut shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research report on Monday, June 19th. Zacks Investment Research raised shares of Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research report on Wednesday, May 3rd. Johnson Rice initiated coverage on shares of Rice Midstream Partners in a research report on Thursday, March 23rd. They set an “accumulate” rating for the company. Finally, Wells Fargo & Company cut shares of Rice Midstream Partners from an “outperform” rating to a “market perform” rating in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.22.

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.

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

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