Rice Midstream Partners LP (RMP) Sees Large Volume Increase
Rice Midstream Partners LP (NYSE:RMP) shares saw an uptick in trading volume on Monday . 251,858 shares traded hands during trading, an increase of 10% from the previous session’s volume of 229,692 shares.The stock last traded at $20.05 and had previously closed at $19.93.
A number of brokerages have recently commented on RMP. Janney Montgomery Scott reiterated a “buy” rating on shares of Rice Midstream Partners in a report on Sunday, April 17th. Stifel Nicolaus lifted their price target on shares of Rice Midstream Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, May 6th. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price target on the stock in a report on Wednesday, July 6th. Finally, Barclays PLC boosted their target price on shares of Rice Midstream Partners from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, May 10th. Ten research analysts have rated the stock with a buy rating, The stock presently has a consensus rating of “Buy” and a consensus target price of $20.56.
The firm’s 50 day moving average is $19.39 and its 200-day moving average is $15.14. The company has a market capitalization of $1.43 billion and a PE ratio of 17.97.
Rice Midstream Partners (NYSE:RMP) last released its earnings results on Wednesday, May 4th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.25. The business had revenue of $54.50 million for the quarter, compared to the consensus estimate of $32.31 million. Rice Midstream Partners’s revenue for the quarter was up 105.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.16 EPS. On average, analysts predict that Rice Midstream Partners LP will post $1.23 EPS for the current year.
Other institutional investors have added to or reduced their stakes in the company. Fort Washington Investment Advisors Inc. OH acquired a new position in Rice Midstream Partners during the fourth quarter valued at approximately $4,681,000. Jennison Associates LLC raised its position in Rice Midstream Partners by 54.7% in the fourth quarter. Jennison Associates LLC now owns 405,887 shares of the company’s stock valued at $5,475,000 after buying an additional 143,593 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Rice Midstream Partners by 88.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,361,021 shares of the company’s stock valued at $18,360,000 after buying an additional 637,012 shares in the last quarter. Atlantic Trust Group LLC raised its position in Rice Midstream Partners by 23.8% in the fourth quarter. Atlantic Trust Group LLC now owns 1,892,800 shares of the company’s stock valued at $25,534,000 after buying an additional 363,653 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its position in Rice Midstream Partners by 19.6% in the fourth quarter. OppenheimerFunds Inc. now owns 3,730,871 shares of the company’s stock valued at $50,330,000 after buying an additional 610,894 shares in the last quarter.
Rice Midstream Partners LP owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company operates in two segments: 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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