Rice Midstream Partners LP (RMP) Sets New 1-Year High at $20.70
Shares of Rice Midstream Partners LP (NYSE:RMP) hit a new 52-week high during trading on Tuesday . The stock traded as high as $20.70 and last traded at $20.67, with a volume of 50,518 shares. The stock had previously closed at $20.37.
RMP has been the subject of several research analyst reports. Zacks Investment Research raised Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Friday, May 6th. Stifel Nicolaus lifted their price objective on Rice Midstream Partners from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, April 13th. Barclays PLC lifted their price objective on Rice Midstream Partners from $17.00 to $22.00 and gave the stock an “overweight” rating in a report on Tuesday, May 10th. Finally, Janney Montgomery Scott reaffirmed a “buy” rating on shares of Rice Midstream Partners in a report on Sunday, April 17th. Ten investment analysts have rated the stock with a buy rating, The company has an average rating of “Buy” and a consensus price target of $20.56.
The firm has a market cap of $1.42 billion and a price-to-earnings ratio of 17.88. The company’s 50-day moving average is $19.19 and its 200 day moving average is $14.99.
Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.48 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.25. During the same period last year, the firm posted $0.16 earnings per share. The business earned $54.50 million during the quarter, compared to analyst estimates of $32.31 million. The company’s quarterly revenue was up 105.7% on a year-over-year basis. Analysts predict that Rice Midstream Partners LP will post $1.23 EPS for the current fiscal year.
Several hedge funds and institutional investors have bought and sold shares of RMP. Fort Washington Investment Advisors Inc. OH acquired a new position in Rice Midstream Partners during the fourth quarter valued at approximately $4,681,000. Jennison Associates LLC raised its position in Rice Midstream Partners by 54.7% in the fourth quarter. Jennison Associates LLC now owns 405,887 shares of the company’s stock valued at $5,475,000 after buying an additional 143,593 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Rice Midstream Partners by 88.0% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 1,361,021 shares of the company’s stock valued at $18,360,000 after buying an additional 637,012 shares during the period. Atlantic Trust Group LLC raised its position in Rice Midstream Partners by 23.8% in the fourth quarter. Atlantic Trust Group LLC now owns 1,892,800 shares of the company’s stock valued at $25,534,000 after buying an additional 363,653 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Rice Midstream Partners by 19.6% in the fourth quarter. OppenheimerFunds Inc. now owns 3,730,871 shares of the company’s stock valued at $50,330,000 after buying an additional 610,894 shares during the period.
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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