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Rice Midstream meets 1Q profit forecasts

CANONSBURG, Pa. (AP) _ Rice Midstream Partners LP (RMP) on Wednesday reported first-quarter net income of $36.4 million.

On a per-share basis, the Canonsburg, Pennsylvania-based company said it had profit of 36 cents.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 36 cents per share.

The partnership that owns natural gas gathering and compression assets posted revenue of $62.8 million in the period.

Rice Midstream shares have increased slightly more than 4 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $25.63, a rise of 63 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RMP at https://www.zacks.com/ap/RMP

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Keywords: Rice Midstream Partners, Earnings Report