Rice Midstream Partners LP (RMP) Downgraded to Hold at US Capital Advisors

US Capital Advisors downgraded shares of Rice Midstream Partners LP (NYSE:RMP) from a buy rating to a hold rating in a research note released on Monday morning.

Several other equities analysts have also issued reports on RMP. Scotiabank set a $29.00 price objective on Rice Midstream Partners and gave the stock a buy rating in a report on Saturday, April 22nd. Stifel Nicolaus reaffirmed a hold rating and set a $25.00 price objective (up previously from $23.00) on shares of Rice Midstream Partners in a report on Monday, February 27th. Johnson Rice lowered Rice Midstream Partners from a buy rating to a hold rating in a report on Monday. Zacks Investment Research lowered Rice Midstream Partners from a buy rating to a hold rating in a report on Wednesday, May 10th. Finally, Wells Fargo & Co lowered Rice Midstream Partners from an outperform rating to a market perform rating in a report on Monday. Eight research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $26.71.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

Shares of Rice Midstream Partners (NYSE RMP) traded up 1.24% on Monday, hitting $18.02. The stock had a trading volume of 592,743 shares. Rice Midstream Partners has a 12-month low of $16.87 and a 12-month high of $26.42. The firm has a market cap of $1.84 billion, a price-to-earnings ratio of 13.22 and a beta of 1.29. The stock has a 50 day moving average of $24.78 and a 200 day moving average of $24.41.

Rice Midstream Partners (NYSE:RMP) last issued 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 consensus estimate of $0.36. The company had revenue of $62.75 million for the quarter, compared to analyst estimates of $56.64 million. Rice Midstream Partners had a return on equity of 12.79% and a net margin of 58.46%. Equities analysts predict that Rice Midstream Partners will post $1.48 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in 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. Heronetta Management L.P. raised its position in Rice Midstream Partners by 71.0% in the first quarter. Heronetta Management L.P. now owns 59,500 shares of the oil and gas producer’s stock worth $1,501,000 after buying an additional 24,700 shares in the last quarter. Brookfield Asset Management Inc. raised its position in Rice Midstream Partners by 3.9% in the fourth quarter. Brookfield Asset Management Inc. now owns 1,077,881 shares of the oil and gas producer’s stock worth $26,494,000 after buying an additional 40,551 shares in the last quarter. HITE Hedge Asset Management LLC raised its position in 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. Finally, NBW Capital LLC bought a new position in Rice Midstream Partners during the first quarter worth about $456,000.

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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