Rice Midstream Partners LP (RMP) Shares Down 3.9%
Rice Midstream Partners LP (NYSE:RMP) was down 3.9% during trading on Tuesday . The company traded as low as $20.84 and last traded at $20.92, with a volume of 101,514 shares. The stock had previously closed at $21.77.
A number of equities research analysts have commented on RMP shares. 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 raised their target price on shares of Rice Midstream Partners from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Wednesday, April 13th. Barclays PLC raised their target price on shares of Rice Midstream Partners from $17.00 to $22.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 10th. Finally, Janney Montgomery Scott restated a “buy” rating on shares of Rice Midstream Partners in a research note on Sunday, April 17th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $20.78.
The company has a market cap of $1.48 billion and a PE ratio of 16.29. The stock’s 50 day moving average is $19.68 and its 200-day moving average is $16.00.
Rice Midstream Partners (NYSE:RMP) last issued its earnings results on Wednesday, August 3rd. The company reported $0.38 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.12. During the same quarter in the prior year, the company earned $0.21 EPS. The firm earned $46.55 million during the quarter, compared to analysts’ expectations of $39.23 million. Rice Midstream Partners’s quarterly revenue was up 63.0% on a year-over-year basis. On average, equities analysts expect that Rice Midstream Partners LP will post $1.25 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 11th. Investors of record on Tuesday, August 2nd will be given a $0.2235 dividend. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Friday, July 29th. This represents a $0.89 dividend on an annualized basis and a yield of 4.27%.
An institutional investor recently raised its position in Rice Midstream Partners stock. Jennison Associates LLC boosted 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 (SEC). 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 as of its most recent SEC filing.
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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