Rice Midstream Partners LP (RMP) Reaches New 52-Week High at $21.22
Rice Midstream Partners LP (NYSE:RMP)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $21.22 and last traded at $20.93, with a volume of 160,235 shares traded. The stock had previously closed at $20.32.
RMP has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Stifel Nicolaus boosted their target price on Rice Midstream Partners from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Wednesday, April 13th. Barclays PLC boosted their target price on Rice Midstream Partners from $17.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 10th. Finally, Janney Montgomery Scott reissued a “buy” rating on shares of Rice Midstream Partners in a research report on Sunday, April 17th. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company’s stock. Rice Midstream Partners has a consensus rating of “Buy” and an average price target of $20.56.
The company’s 50 day moving average is $19.60 and its 200-day moving average is $15.82. The firm has a market capitalization of $1.47 billion and a PE ratio of 18.54.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.12. The company had revenue of $46.55 million for the quarter, compared to the consensus estimate of $39.23 million. Rice Midstream Partners’s revenue for the quarter was up 63.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 EPS. On average, equities research analysts expect that Rice Midstream Partners LP will post $1.25 earnings per share 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 given a dividend of $0.2235 per share. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.21. This represents a $0.89 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date is Friday, July 29th.
A hedge fund recently raised its stake in Rice Midstream Partners stock. Jennison Associates LLC increased its position in shares of Rice Midstream Partners LP (NYSE:RMP) by 54.7% during the fourth quarter, according to its most recent 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 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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