Rice Midstream Partners LP (RMP) Trading Up 3.3%
Shares of Rice Midstream Partners LP (NYSE:RMP) were up 3.3% during mid-day trading 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 analysts recently issued reports on RMP shares. Zacks Investment Research cut Rice Midstream Partners from a “hold” rating to a “sell” rating in a research note on Thursday, July 28th. Drexel Hamilton initiated coverage on shares of Rice Midstream Partners in a research note on Tuesday. They set a “buy” rating for the company. Barclays PLC raised their price target 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. Finally, Stifel Nicolaus raised their price target 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. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $20.75.
The stock has a market capitalization of $1.78 billion and a price-to-earnings ratio of 17.04. The firm’s 50-day moving average is $20.17 and its 200-day moving average is $16.54.
Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings data on Wednesday, August 3rd. The company reported $0.38 EPS for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.12. The company earned $46.55 million during the quarter, compared to analyst estimates of $39.23 million. During the same period in the prior year, the firm earned $0.21 earnings per share. Rice Midstream Partners’s revenue was up 63.0% compared to the same quarter last year. Equities analysts anticipate that Rice Midstream Partners LP will post $1.42 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 11th. Investors 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 4.08%. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, July 29th.
An institutional investor recently raised its position in Rice Midstream Partners stock. Jennison Associates LLC raised its stake in shares of 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 (SEC). 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 SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.