Scotiabank Reiterates Hold Rating for Rice Midstream Partners LP (RMP)

Rice Midstream Partners LP (NYSE:RMP)‘s stock had its “hold” rating reaffirmed by equities research analysts at Scotiabank in a report issued on Tuesday.

Several other equities analysts also recently issued reports on the stock. SunTrust Banks, Inc. downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating and lowered their target price for the stock from $28.00 to $21.00 in a research note on Monday, June 19th. Drexel Hamilton downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Wells Fargo & Company raised shares of Rice Midstream Partners from a “market perform” rating to an “outperform” rating in a research note on Monday, July 17th. Mitsubishi UFJ Financial Group Inc reissued a “neutral” rating on shares of Rice Midstream Partners in a research note on Wednesday, June 21st. Finally, BidaskClub raised shares of Rice Midstream Partners from a “strong sell” rating to a “sell” rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $22.44.

Rice Midstream Partners (NYSE:RMP) traded up 0.51% on Tuesday, hitting $21.79. 48,471 shares of the stock were exchanged. Rice Midstream Partners has a 1-year low of $16.87 and a 1-year high of $26.42. The company has a 50-day moving average price of $20.92 and a 200 day moving average price of $22.31. The company has a market capitalization of $1.60 billion, a PE ratio of 15.91 and a beta of 1.30.

Rice Midstream Partners (NYSE:RMP) last issued 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 business had revenue of $72.38 million during the quarter, compared to the consensus estimate of $58.20 million. Rice Midstream Partners had a net margin of 58.22% and a return on equity of 12.71%. The firm’s revenue was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. Analysts anticipate that Rice Midstream Partners will post $1.43 EPS for the current fiscal year.

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A number of large investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA acquired a new position in shares of Rice Midstream Partners during the first quarter valued at about $116,000. Proficio Capital Partners LLC acquired a new position in shares of Rice Midstream Partners during the first quarter valued at about $220,000. Ameritas Investment Partners Inc. acquired a new position in shares of Rice Midstream Partners during the first quarter valued at about $229,000. Oppenheimer Asset Management Inc. acquired a new position in shares of Rice Midstream Partners during the first quarter valued at about $268,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Rice Midstream Partners by 5.9% during 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 last quarter.

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.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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