Scotiabank Downgrades Rice Midstream Partners to Hold

By Ryan Adsit

Rice Midstream Partners (NYSE: RMP) received a Hold rating from Scotiabank analyst Holly Stewart today. The company’s shares closed last Friday at $18.47.

According to TipRanks.com, Stewart is ranked 0 out of 5 stars with an average return of -13.0% and a 30.8% success rate. Stewart covers the Basic Materials sector, focusing on stocks such as National Fuel Gas Company, Antero Midstream Partners, and Gulfport Energy Corp.

Currently, the analyst consensus on Rice Midstream Partners is Moderate Buy and the average price target is $23.33, representing a 26.3% upside.

In a report issued on June 20, RBC Capital also downgraded the stock to Hold with a $21 price target.

The company has a one year high of $26.42 and a one year low of $16.87. Currently, Rice Midstream Partners has an average volume of 521.8K.

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Rice Midstream Partners LP owns, operates, develops, and acquires midstream assets in the Appalachian Basin. It operates its business through the Gathering and Compression and Water Services segments. The Gathering and Compression segment provides natural gas gathering and compression services for Rice Energy and third parties in the Appalachian Basin. The Water Services segment is engaged in the provision of water services to support well completion activities and to collect and recycle or dispose of flowback and produced water for Rice Energy and third parties in the Appalachian Basin. The company was founded on August 5, 2014 and is headquartered in Canonsburg, PA.,0DZ5T4-E