Rice Midstream Partners' Stock Falls Below IPO Price On First Day

MarketWatch Pulse

Shares of Rice Midstream Partners LP received a less-than-enthusiastic reception on their public debut, as they fell below their initial public offering price in morning trade Wednesday. The stock opened at $15.79, or 4.3% below the IPO price of $16.50. and was recently trading at $15.77. The IPO was expected to price within a range of $19 to $21. Rice Midstream Partners, which is a master limited partnership sput out of Rice Energy, provide natural-gas gathering and compression services. Energy stocks have been hurt by the recent sharp drop in oil prices.

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