Rice Midstream Partners LP (RMP) Shares Up 3.3%
Rice Midstream Partners LP (NYSE:RMP)’s share price shot up 3.3% on Thursday . The company traded as high as $21.94 and last traded at $21.87, with a volume of 604,679 shares. The stock had previously closed at $21.18.
A number of brokerages have recently weighed in on RMP. Stifel Nicolaus increased their target price on Rice Midstream Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Zacks Investment Research upgraded Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Wednesday, July 6th. Barclays PLC increased their target price on 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, Drexel Hamilton began coverage on Rice Midstream Partners in a research note on Tuesday. They set a “buy” rating on the stock. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Rice Midstream Partners presently has an average rating of “Buy” and a consensus price target of $20.75.
The company has a market cap of $1.76 billion and a price-to-earnings ratio of 16.84. The stock has a 50 day moving average price of $20.21 and a 200 day moving average price of $16.62.
Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share (EPS) 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 analyst estimates of $39.23 million. During the same quarter last year, the firm posted $0.21 EPS. Rice Midstream Partners’s revenue for the quarter was up 63.0% on a year-over-year basis. On average, analysts forecast that Rice Midstream Partners LP will post $1.42 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Tuesday, August 2nd were paid a $0.2235 dividend. The ex-dividend date of this dividend was Friday, July 29th. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.13%. This is a positive change 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 raised its position in Rice Midstream Partners LP (NYSE:RMP) by 54.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 405,887 shares of the company’s stock after buying an additional 143,593 shares during the period. Jennison Associates LLC owned about 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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