Magnetar Financial LLC Trims Position in Rice Midstream Partners LP (RMP)

Magnetar Financial LLC trimmed its holdings in shares of Rice Midstream Partners LP (NYSE:RMP) by 4.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,423,305 shares of the oil and gas producer’s stock after selling 60,741 shares during the period. Magnetar Financial LLC owned about 1.94% of Rice Midstream Partners worth $29,804,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Advisors Asset Management Inc. boosted its holdings in Rice Midstream Partners by 53.9% during the second quarter. Advisors Asset Management Inc. now owns 72,206 shares of the oil and gas producer’s stock worth $1,440,000 after buying an additional 25,295 shares in the last quarter. Atlantic Trust Group LLC boosted its holdings in Rice Midstream Partners by 34.2% during the second quarter. Atlantic Trust Group LLC now owns 1,613,471 shares of the oil and gas producer’s stock worth $32,173,000 after buying an additional 410,851 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Rice Midstream Partners by 28.8% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 2,097,219 shares of the oil and gas producer’s stock worth $41,819,000 after buying an additional 468,864 shares in the last quarter. Sanders Morris Harris LLC bought a new stake in Rice Midstream Partners during the third quarter worth approximately $419,000. Finally, Oppenheimer Asset Management Inc. boosted its holdings in Rice Midstream Partners by 79.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 19,004 shares of the oil and gas producer’s stock worth $379,000 after buying an additional 8,385 shares in the last quarter.

Rice Midstream Partners LP (NYSE:RMP) traded down $0.12 during mid-day trading on Wednesday, reaching $20.96. 113,400 shares of the company’s stock were exchanged, compared to its average volume of 479,807. Rice Midstream Partners LP has a 12 month low of $16.87 and a 12 month high of $26.42. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1,550.42, a P/E ratio of 12.26, a price-to-earnings-growth ratio of 0.89 and a beta of 1.26.

Rice Midstream Partners (NYSE:RMP) last released its earnings results on Thursday, November 2nd. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Rice Midstream Partners had a net margin of 59.24% and a return on equity of 13.59%. The company had revenue of $81.70 million during the quarter, compared to the consensus estimate of $65.25 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 98.8% compared to the same quarter last year. analysts expect that Rice Midstream Partners LP will post 1.59 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Thursday, November 16th. Shareholders of record on Tuesday, November 7th were given a $0.2814 dividend. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend was Monday, November 6th. This represents a $1.13 dividend on an annualized basis and a yield of 5.37%. Rice Midstream Partners’s dividend payout ratio is presently 65.70%.

RMP has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BMO Capital Markets set a $20.00 price objective on shares of Rice Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, August 10th. Stifel Nicolaus set a $19.00 price objective on shares of Rice Midstream Partners and gave the stock a “hold” rating in a research note on Friday, August 25th. ValuEngine lowered shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, AltaCorp Capital reaffirmed a “hold” rating on shares of Rice Midstream Partners in a research note on Monday, September 4th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.75.

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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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Institutional Ownership by Quarter for Rice Midstream Partners (NYSE:RMP)

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