Rice Midstream Partners LP (RMP) Sees Large Volume Increase
Rice Midstream Partners LP (NYSE:RMP) shares saw strong trading volume on Monday . 365,056 shares traded hands during trading, an increase of 45% from the previous session’s volume of 250,983 shares.The stock last traded at $21.20 and had previously closed at $21.42.
Several equities analysts recently weighed in on the company. Zacks Investment Research raised Rice Midstream Partners from a “sell” rating to a “hold” rating and set a $24.00 price objective for the company in a research report on Tuesday, August 9th. Barclays PLC boosted their price objective on Rice Midstream Partners from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. Finally, Stifel Nicolaus boosted their price objective on Rice Midstream Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, May 6th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $20.75.
The stock has a market capitalization of $1.71 billion and a PE ratio of 16.36. The company’s 50-day moving average is $19.97 and its 200-day moving average is $16.39.
Rice Midstream Partners (NYSE:RMP) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.12. The company earned $46.55 million during the quarter, compared to the consensus estimate of $39.23 million. During the same quarter in the previous year, the business earned $0.21 EPS. Rice Midstream Partners’s revenue was up 63.0% on a year-over-year basis. Equities analysts expect that Rice Midstream Partners LP will post $1.38 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Tuesday, August 2nd were issued a $0.2235 dividend. This represents a $0.89 annualized dividend and a dividend yield of 4.25%. The ex-dividend date of this dividend was Friday, July 29th. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.21.
An institutional investor recently raised its position in Rice Midstream Partners stock. Jennison Associates LLC increased its stake in shares of Rice Midstream Partners LP (NYSE:RMP) by 54.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm 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 as of its most recent filing with the SEC.
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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