Municipal Employees Retirement System of Michigan Sells 20,750 Shares of Rice Midstream Partners LP (RMP)

Municipal Employees Retirement System of Michigan trimmed its position in shares of Rice Midstream Partners LP (NYSE:RMP) by 13.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 137,740 shares of the oil and gas producer’s stock after selling 20,750 shares during the quarter. Municipal Employees Retirement System of Michigan owned approximately 0.19% of Rice Midstream Partners worth $2,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Tortoise Capital Advisors L.L.C. boosted its holdings in Rice Midstream Partners by 10.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,184,689 shares of the oil and gas producer’s stock valued at $163,203,000 after purchasing an additional 788,842 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Rice Midstream Partners by 25.9% in the second quarter. Goldman Sachs Group Inc. now owns 7,501,148 shares of the oil and gas producer’s stock valued at $149,573,000 after acquiring an additional 1,541,392 shares during the period. Alps Advisors Inc. boosted its holdings in shares of Rice Midstream Partners by 11.3% in the third quarter. Alps Advisors Inc. now owns 5,973,792 shares of the oil and gas producer’s stock valued at $125,091,000 after acquiring an additional 607,938 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Rice Midstream Partners by 28.8% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,097,219 shares of the oil and gas producer’s stock valued at $41,819,000 after acquiring an additional 468,864 shares during the period. Finally, Atlantic Trust Group LLC boosted its holdings in shares of Rice Midstream Partners by 34.2% in the second quarter. Atlantic Trust Group LLC now owns 1,613,471 shares of the oil and gas producer’s stock valued at $32,173,000 after acquiring an additional 410,851 shares during the period.

Several equities research analysts have recently weighed in on the company. Zacks Investment Research raised Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Saturday, September 16th. US Capital Advisors restated a “hold” rating on shares of Rice Midstream Partners in a research report on Monday, July 17th. Canaccord Genuity reiterated a “buy” rating on shares of Rice Midstream Partners in a research report on Wednesday, October 25th. Stifel Nicolaus set a $19.00 price target on Rice Midstream Partners and gave the stock a “hold” rating in a research note on Friday, August 25th. Finally, BMO Capital Markets set a $20.00 price objective on Rice Midstream Partners and gave the company a “buy” rating in a research note on Tuesday, October 10th. 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. Rice Midstream Partners presently has an average rating of “Hold” and an average price target of $21.63.

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Rice Midstream Partners LP (NYSE:RMP) traded down $0.46 during trading on Tuesday, reaching $20.61. The company’s stock had a trading volume of 283,700 shares, compared to its average volume of 488,877. Rice Midstream Partners LP has a 12-month low of $16.87 and a 12-month high of $26.42. 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 firm has a market cap of $2,110.00 and a PE ratio of 12.25.

Rice Midstream Partners (NYSE:RMP) last issued its earnings results on Thursday, November 2nd. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ 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 business had revenue of $81.70 million during the quarter, compared to analysts’ expectations of $65.25 million. During the same period in the prior year, the firm posted $0.30 EPS. Rice Midstream Partners’s quarterly revenue was up 98.8% compared to the same quarter last year. sell-side analysts expect that Rice Midstream Partners LP will post 1.56 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Shareholders of record on Tuesday, November 7th will be given a $0.2814 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 5.46%. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Monday, November 6th. Rice Midstream Partners’s dividend payout ratio (DPR) is presently 71.52%.

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.

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

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