Rice Midstream Partners LP (RMP) Stock Price Down 2.4%
Rice Midstream Partners LP (NYSE:RMP) traded down 2.4% during trading on Wednesday . The stock traded as low as $18.71 and last traded at $18.94, with a volume of 177,837 shares changing hands. The stock had previously closed at $19.40.
RMP has been the subject of several research reports. Zacks Investment Research downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Stifel Nicolaus raised their price target on Rice Midstream Partners from $18.00 to $20.00 and gave the company a “buy” rating in a report on Friday, May 6th. Barclays PLC raised their price target on Rice Midstream Partners from $17.00 to $22.00 and gave the company an “overweight” rating in a report on Tuesday, May 10th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating on shares of Rice Midstream Partners in a report on Sunday, April 17th. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $20.56.
The stock has a market cap of $1.34 billion and a PE ratio of 16.89. The firm has a 50-day moving average of $19.47 and a 200-day moving average of $15.45.
Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings data 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. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm had revenue of $54.50 million for the quarter, compared to the consensus estimate of $32.31 million. The company’s revenue was up 105.7% compared to the same quarter last year. On average, equities analysts forecast that Rice Midstream Partners LP will post $1.21 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Stockholders of record on Tuesday, August 2nd will be issued a dividend of $0.2235 per share. The ex-dividend date of this dividend is Friday, July 29th. This represents a $0.89 annualized dividend and a dividend yield of 4.73%. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.21.
Several large investors have recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake 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. Fort Washington Investment Advisors Inc. OH purchased a new stake in Rice Midstream Partners during the fourth quarter valued at approximately $4,681,000. Finally, Atlantic Trust Group LLC increased its stake 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.
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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