Rice Midstream Partners LP (RMP) PT Raised to $29.00 at Howard Weil
Rice Midstream Partners LP (NYSE:RMP) had its price target raised by analysts at Howard Weil from $27.00 to $29.00 in a note issued to investors on Tuesday. The brokerage presently has a “sector outperform” rating on the stock. Howard Weil’s target price would suggest a potential upside of 27.53% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Rice Midstream Partners from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a report on Tuesday, August 9th. Goldman Sachs Group Inc. downgraded Rice Midstream Partners from a “buy” rating to a “not rated” rating in a report on Wednesday, September 28th. Drexel Hamilton began coverage on Rice Midstream Partners in a report on Tuesday, August 16th. They issued a “buy” rating for the company. Barclays PLC lifted their target price on Rice Midstream Partners from $22.00 to $24.00 and gave the stock an “overweight” rating in a report on Monday, August 8th. Finally, Stifel Nicolaus downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Rice Midstream Partners presently has a consensus rating of “Buy” and an average target price of $22.00.
Rice Midstream Partners (NYSE:RMP) opened at 22.74 on Tuesday. The firm has a market cap of $1.85 billion, a P/E ratio of 17.70 and a beta of 1.35. Rice Midstream Partners has a 52-week low of $8.40 and a 52-week high of $24.30. The firm’s 50-day moving average price is $22.31 and its 200-day moving average price is $19.27.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.12. Rice Midstream Partners had a return on equity of 15.87% and a net margin of 57.23%. The company earned $46.55 million during the quarter, compared to the consensus estimate of $39.23 million. During the same period last year, the company earned $0.21 earnings per share. The firm’s revenue was up 63.0% compared to the same quarter last year. Equities research analysts expect that Rice Midstream Partners will post ($0.13) EPS for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning bought a new position in shares of Rice Midstream Partners during the second quarter valued at about $112,000. Janney Montgomery Scott LLC bought a new position in shares of Rice Midstream Partners during the second quarter valued at about $185,000. BNP Paribas Arbitrage SA boosted its position in shares of Rice Midstream Partners by 10.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,128 shares of the company’s stock valued at $248,000 after buying an additional 1,144 shares during the last quarter. Global X Management Co. LLC bought a new position in shares of Rice Midstream Partners during the second quarter valued at about $255,000. Finally, State Street Corp boosted its position in shares of Rice Midstream Partners by 3.9% in the first quarter. State Street Corp now owns 26,293 shares of the company’s stock valued at $391,000 after buying an additional 983 shares during the last quarter. 94.44% of the stock is currently owned by institutional investors.
About Rice Midstream Partners
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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