Rice Midstream Partners LP (RMP) Hits New 12-Month High at $23.20
Rice Midstream Partners LP (NYSE:RMP) hit a new 52-week high during trading on Wednesday . The company traded as high as $23.20 and last traded at $22.38, with a volume of 71,363 shares changing hands. The stock had previously closed at $23.08.
RMP has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating and set a $24.00 target price for the company in a research report on Tuesday, August 9th. Drexel Hamilton initiated coverage on shares of Rice Midstream Partners in a research report on Tuesday, August 16th. They issued a “buy” rating for the company. Barclays PLC increased their target price on shares of Rice Midstream Partners from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. TheStreet upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, Stifel Nicolaus cut shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $20.75.
The firm has a 50-day moving average of $20.60 and a 200 day moving average of $17.32. The company has a market capitalization of $1.82 billion and a P/E ratio of 17.49.
Rice Midstream Partners (NYSE:RMP) last issued its earnings results on Wednesday, August 3rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of $0.26 by $0.12. The company had revenue of $46.55 million for the quarter, compared to analysts’ expectations of $39.23 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. Rice Midstream Partners’s revenue for the quarter was up 63.0% on a year-over-year basis. On average, equities research analysts forecast that Rice Midstream Partners LP will post $1.47 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Tuesday, August 2nd were given a dividend of $0.2235 per share. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.21. The ex-dividend date was Friday, July 29th. This represents a $0.89 annualized dividend and a dividend yield of 3.87%.
A hedge fund recently raised its stake in Rice Midstream Partners stock. Jennison Associates LLC increased its stake in Rice Midstream Partners LP (NYSE:RMP) by 54.7% during the fourth quarter, according to its most recent 13F filing 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 about 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.