Rice Midstream Partners LP (NYSE:RMP) shares fell 1.5% on Monday . The company traded as low as $21.69 and last traded at $21.73, with a volume of 358,650 shares changing hands. The stock had previously closed at $22.07.
A number of research firms have recently weighed in on RMP. Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Rice Midstream Partners in a report on Thursday, September 1st. Stifel Nicolaus downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating and set a $24.00 price target on the stock in a report on Tuesday, August 9th. TheStreet upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Finally, Drexel Hamilton began coverage on shares of Rice Midstream Partners in a report on Tuesday, August 16th. They set a “buy” rating on the stock. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $20.75.
The company has a market cap of $1.76 billion, a P/E ratio of 16.91 and a beta of 1.36. The stock has a 50 day moving average of $21.18 and a 200-day moving average of $17.97.
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Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The company earned $46.55 million during the quarter, compared to analysts’ expectations of $39.23 million. Rice Midstream Partners had a net margin of 57.23% and a return on equity of 15.87%. The business’s quarterly revenue was up 63.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. Equities research analysts predict that Rice Midstream Partners LP will post ($0.13) earnings per share for the current fiscal year.
About Rice Midstream Partners
Rice Midstream Partners LP owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company operates in two segments: 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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