Rice Midstream Partners (RMP) Receives Average Rating of “Hold” from Analysts

Rice Midstream Partners (NYSE:RMP) has been given an average rating of “Hold” by the twenty-two ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, sixteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $21.56.

RMP has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of Rice Midstream Partners in a report on Monday, January 22nd. They issued a “neutral” rating and a $24.00 target price on the stock. Johnson Rice cut shares of Rice Midstream Partners from an “accumulate” rating to a “hold” rating in a report on Monday, January 29th. ValuEngine cut shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Wells Fargo cut shares of Rice Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Thursday, February 22nd. Finally, Wellington Shields reissued a “market perform” rating on shares of Rice Midstream Partners in a report on Friday, February 23rd.

Several large investors have recently made changes to their positions in the business. Tortoise Capital Advisors L.L.C. increased its stake in shares of Rice Midstream Partners by 1.8% in the first quarter. Tortoise Capital Advisors L.L.C. now owns 6,288,973 shares of the oil and gas producer’s stock valued at $113,830,000 after purchasing an additional 109,899 shares during the period. Alps Advisors Inc. increased its stake in shares of Rice Midstream Partners by 2.3% in the fourth quarter. Alps Advisors Inc. now owns 6,112,118 shares of the oil and gas producer’s stock valued at $131,227,000 after purchasing an additional 138,326 shares during the period. Brookfield Asset Management Inc. increased its stake in shares of Rice Midstream Partners by 104.1% in the first quarter. Brookfield Asset Management Inc. now owns 3,331,191 shares of the oil and gas producer’s stock valued at $60,294,000 after purchasing an additional 1,698,812 shares during the period. Atlantic Trust Group LLC increased its stake in shares of Rice Midstream Partners by 38.5% in the first quarter. Atlantic Trust Group LLC now owns 3,195,159 shares of the oil and gas producer’s stock valued at $57,832,000 after purchasing an additional 888,196 shares during the period. Finally, Cushing Asset Management LP increased its stake in shares of Rice Midstream Partners by 31.1% in the fourth quarter. Cushing Asset Management LP now owns 2,078,226 shares of the oil and gas producer’s stock valued at $44,620,000 after purchasing an additional 492,688 shares during the period. Institutional investors own 74.08% of the company’s stock.

Shares of Rice Midstream Partners traded down $0.14, hitting $17.90, during trading hours on Friday, MarketBeat Ratings reports. 136,800 shares of the company were exchanged, compared to its average volume of 609,001. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.91 and a current ratio of 2.91. Rice Midstream Partners has a one year low of $16.87 and a one year high of $25.50. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 10.42, a PEG ratio of 0.70 and a beta of 1.17.

Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings results on Thursday, April 26th. The oil and gas producer reported $0.48 EPS for the quarter, topping the consensus estimate of $0.41 by $0.07. Rice Midstream Partners had a net margin of 59.40% and a return on equity of 10.01%. The business had revenue of $84.46 million for the quarter. research analysts forecast that Rice Midstream Partners will post 1.83 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Friday, May 4th were paid a $0.3049 dividend. The ex-dividend date was Thursday, May 3rd. This represents a $1.22 annualized dividend and a dividend yield of 6.81%. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.29.

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.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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