Rice Midstream Partners LP (RMP) Hits New 52-Week High at $22.00
Shares of Rice Midstream Partners LP (NYSE:RMP) reached a new 52-week high during trading on Thursday . The stock traded as high as $22.00 and last traded at $21.94, with a volume of 107,756 shares traded. The stock had previously closed at $21.45.
Several analysts have commented on RMP shares. Zacks Investment Research raised shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. Stifel Nicolaus lifted their target price on shares of Rice Midstream Partners from $18.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, May 6th. Barclays PLC lifted 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. Drexel Hamilton started coverage on shares of Rice Midstream Partners in a research note on Tuesday, August 16th. They issued a “buy” rating for the company. Finally, TheStreet raised shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.75.
The stock’s 50 day moving average is $20.46 and its 200 day moving average is $17.03. The company has a market capitalization of $1.81 billion and a P/E ratio of 17.39.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. The company earned $46.55 million during the quarter, compared to analyst estimates of $39.23 million. The company’s revenue was up 63.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share. Equities analysts predict that Rice Midstream Partners LP will post $1.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Stockholders of record on Tuesday, August 2nd were paid a $0.2235 dividend. This represents a $0.89 dividend on an annualized basis and a dividend yield of 4.00%. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, July 29th.
A hedge fund recently raised its stake in Rice Midstream Partners stock. Jennison Associates LLC increased its position in Rice Midstream Partners LP (NYSE:RMP) by 54.7% during the fourth quarter, according to its most recent disclosure 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 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.