Rice Midstream Partners LP (RMP) Hits New 1-Year High at $21.22
Rice Midstream Partners LP (NYSE:RMP) shares reached a new 52-week high on Friday . The company traded as high as $21.22 and last traded at $20.93, with a volume of 160,235 shares changing hands. The stock had previously closed at $20.32.
A number of research analysts have recently weighed in on the company. Zacks Investment Research lowered Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 20th. Stifel Nicolaus raised their target price 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 target price 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 restated a “buy” rating on shares of Rice Midstream Partners in a report on Sunday, April 17th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. Rice Midstream Partners has a consensus rating of “Buy” and an average price target of $20.56.
The stock has a market capitalization of $1.47 billion and a price-to-earnings ratio of 18.54. The stock has a 50 day moving average price of $19.54 and a 200-day moving average price of $15.79.
Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.12. The company earned $46.55 million during the quarter, compared to analyst estimates of $39.23 million. During the same period in the previous year, the company earned $0.21 EPS. The business’s revenue for the quarter was up 63.0% compared to the same quarter last year. On average, analysts predict that Rice Midstream Partners LP will post $1.21 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Tuesday, August 2nd will be issued a $0.2235 dividend. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.21. This represents a $0.89 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Friday, July 29th.
An institutional investor recently raised its position in Rice Midstream Partners stock. Jennison Associates LLC increased its stake in Rice Midstream Partners LP (NYSE:RMP) by 54.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 405,887 shares of the company’s stock after buying an additional 143,593 shares during the period. Jennison Associates LLC owned approximately 0.71% of Rice Midstream Partners worth $5,475,000 at the end of the most recent reporting period.
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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