Rice Midstream Partners LP (RMP) Receives $22.33 Average Price Target from Brokerages

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Shares of Rice Midstream Partners LP (NYSE:RMP) have received an average rating of “Hold” from the eleven brokerages that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $23.50.

A number of research analysts have recently issued reports on RMP shares. ValuEngine downgraded Rice Midstream Partners from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 26th. Zacks Investment Research downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, July 17th. Finally, US Capital Advisors reissued an “overweight” rating on shares of Rice Midstream Partners in a research note on Tuesday, July 17th.

A number of hedge funds have recently bought and sold shares of the stock. California Public Employees Retirement System acquired a new position in Rice Midstream Partners during the 2nd quarter worth approximately $2,060,000. Alpine Global Management LLC raised its stake in Rice Midstream Partners by 174.2% during the 2nd quarter. Alpine Global Management LLC now owns 266,050 shares of the oil and gas producer’s stock worth $4,528,000 after buying an additional 169,026 shares during the period. Tower Research Capital LLC TRC raised its stake in Rice Midstream Partners by 843.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 35,560 shares of the oil and gas producer’s stock worth $605,000 after buying an additional 31,791 shares during the period. Franklin Square Holdings L.P. raised its stake in Rice Midstream Partners by 56.7% during the 2nd quarter. Franklin Square Holdings L.P. now owns 47,000 shares of the oil and gas producer’s stock worth $800,000 after buying an additional 17,000 shares during the period. Finally, OppenheimerFunds Inc. raised its stake in Rice Midstream Partners by 1.2% during the 2nd quarter. OppenheimerFunds Inc. now owns 7,753,003 shares of the oil and gas producer’s stock worth $131,956,000 after buying an additional 94,572 shares during the period. 74.09% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:RMP traded up $1,696.18 during midday trading on Wednesday, reaching $1,714.23. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.91 and a quick ratio of 2.91. Rice Midstream Partners has a 1 year low of $16.68 and a 1 year high of $23.00.

Rice Midstream Partners Company Profile

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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Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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