Rice Midstream Partners LP (RMP) Reaches New 52-Week High at $22.00
Shares of Rice Midstream Partners LP (NYSE:RMP) hit a new 52-week high during mid-day trading on Thursday . The company 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.
A number of analysts have issued reports on RMP shares. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a research note on Friday, May 6th. TheStreet upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus boosted 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. Barclays PLC boosted their price target on shares of Rice Midstream Partners from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, August 8th. Finally, Drexel Hamilton started coverage on Rice Midstream Partners in a research report on Tuesday, August 16th. They set a “buy” rating for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Rice Midstream Partners has an average rating of “Buy” and an average target price of $20.75.
The firm has a market capitalization of $1.78 billion and a PE ratio of 17.07. The stock’s 50-day moving average price is $20.39 and its 200 day moving average price is $16.94.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. During the same period in the previous year, the business posted $0.21 earnings per share. The business earned $46.55 million during the quarter, compared to analyst estimates of $39.23 million. The firm’s quarterly revenue was up 63.0% on a year-over-year basis. On average, analysts anticipate that Rice Midstream Partners LP will post $1.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Tuesday, August 2nd were paid a $0.2235 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 4.07%. This is an increase 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 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 (SEC). The firm owned 405,887 shares of the company’s stock after buying an additional 143,593 shares during the period. Jennison Associates LLC owned 0.71% of Rice Midstream Partners worth $5,475,000 at the end of the most recent quarter.
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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