Rice Midstream Partners (RMP) Downgraded to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Rice Midstream Partners (NYSE:RMP) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “Rice Midstream Partners LP is a midstream energy company. It owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company’s revenues come from natural-gas gathering services and compression services. Rice Midstream Partners LP is headquartered in United States. “

Other equities research analysts also recently issued research reports about the company. ValuEngine downgraded Rice Midstream Partners from a buy rating to a hold rating in a research report on Friday, February 2nd. Johnson Rice downgraded Rice Midstream Partners from an accumulate rating to a hold rating in a report on Monday, January 29th. Wellington Shields reiterated a market perform rating on shares of Rice Midstream Partners in a report on Friday, February 23rd. Finally, Wells Fargo & Co downgraded Rice Midstream Partners from an outperform rating to a market perform rating in a report on Thursday, February 22nd. Two analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $21.56.

NYSE:RMP opened at $18.55 on Thursday. Rice Midstream Partners has a 52 week low of $16.87 and a 52 week high of $25.33. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 0.72 and a beta of 1.17.

Rice Midstream Partners (NYSE:RMP) last posted its earnings results on Thursday, April 26th. The oil and gas producer reported $0.48 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.07. Rice Midstream Partners had a return on equity of 10.01% and a net margin of 59.40%. The company had revenue of $84.46 million for the quarter. research analysts predict that Rice Midstream Partners will post 1.87 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Friday, May 4th were issued a $0.3049 dividend. This represents a $1.22 annualized dividend and a dividend yield of 6.57%. The ex-dividend date was Thursday, May 3rd. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.29.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Oppenheimer Asset Management Inc. increased its holdings in Rice Midstream Partners by 14.9% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 22,968 shares of the oil and gas producer’s stock worth $416,000 after purchasing an additional 2,979 shares during the period. Summit Trail Advisors LLC increased its holdings in Rice Midstream Partners by 8.7% during the 1st quarter. Summit Trail Advisors LLC now owns 70,003 shares of the oil and gas producer’s stock worth $948,000 after purchasing an additional 5,606 shares during the period. BNP Paribas Arbitrage SA purchased a new stake in Rice Midstream Partners during the 1st quarter worth about $116,000. First Republic Investment Management Inc. increased its holdings in Rice Midstream Partners by 16.8% during the 1st quarter. First Republic Investment Management Inc. now owns 62,866 shares of the oil and gas producer’s stock worth $1,138,000 after purchasing an additional 9,059 shares during the period. Finally, Texas Yale Capital Corp. increased its holdings in Rice Midstream Partners by 4.6% during the 4th quarter. Texas Yale Capital Corp. now owns 227,246 shares of the oil and gas producer’s stock worth $4,879,000 after purchasing an additional 10,046 shares during the period. Institutional investors own 74.26% of the company’s stock.

About Rice Midstream Partners

Rice Midstream Partners LP owns, operates, develops, and acquires midstream assets in the Appalachian Basin. It operates in two segments, Gathering and Compression, and Water Services. Its natural gas gathering and compression assets consist of natural gas gathering and compression systems that serve producers in the dry gas core of the Marcellus Shale in southwestern Pennsylvania.

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