Rice Midstream Partners LP (RMP) Reaches New 12-Month High at $23.20
Rice Midstream Partners LP (NYSE:RMP) reached 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 trading hands. The stock had previously closed at $23.08.
RMP has been the subject of a number of analyst reports. Zacks Investment Research raised Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 price target for the company in a research report on Wednesday, July 6th. Stifel Nicolaus increased their price target on Rice Midstream Partners from $18.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, May 6th. Drexel Hamilton initiated coverage on Rice Midstream Partners in a research report on Tuesday, August 16th. They issued a “buy” rating for the company. TheStreet raised Rice Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, Barclays PLC increased their price target on Rice Midstream Partners from $17.00 to $22.00 and gave the company an “overweight” rating in a research report on Tuesday, May 10th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $20.75.
The stock has a market capitalization of $1.80 billion and a P/E ratio of 17.22. The firm has a 50-day moving average of $20.69 and a 200-day moving average of $17.36.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.12. During the same quarter in the previous year, the company earned $0.21 EPS. The company earned $46.55 million during the quarter, compared to analysts’ expectations of $39.23 million. The business’s quarterly revenue was up 63.0% compared to the same quarter last year. Analysts forecast that Rice Midstream Partners LP will post $1.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 11th. Shareholders of record on Tuesday, August 2nd were given a $0.2235 dividend. This represents a $0.89 dividend on an annualized basis and a yield of 4.04%. The ex-dividend date of this dividend was Friday, July 29th. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.21.
An institutional investor recently raised its position 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 Form 13F 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 approximately 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.
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