Rice Midstream Partners LP (RMP) Given Average Recommendation of “Hold” by Brokerages
Shares of Rice Midstream Partners LP (NYSE:RMP) have been assigned an average recommendation of “Hold” from the nineteen research firms that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $21.17.
RMP has been the topic of a number of analyst reports. Scotiabank set a $22.00 price objective on Rice Midstream Partners and gave the stock a “hold” rating in a research note on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) cut Rice Midstream Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $27.00 to $23.00 in a research note on Friday, September 8th. BMO Capital Markets set a $20.00 price objective on Rice Midstream Partners and gave the stock a “buy” rating in a research note on Thursday, August 10th. Canaccord Genuity reiterated a “buy” rating on shares of Rice Midstream Partners in a research note on Monday, September 4th. Finally, AltaCorp Capital reiterated a “hold” rating on shares of Rice Midstream Partners in a research note on Monday, September 4th.
A number of institutional investors and hedge funds have recently bought and sold shares of RMP. Alliancebernstein L.P. raised its stake in Rice Midstream Partners by 40.6% in the 1st quarter. Alliancebernstein L.P. now owns 13,351 shares of the oil and gas producer’s stock valued at $337,000 after acquiring an additional 3,855 shares during the period. Creative Planning raised its stake in Rice Midstream Partners by 62.2% in the 2nd quarter. Creative Planning now owns 26,343 shares of the oil and gas producer’s stock valued at $525,000 after acquiring an additional 10,106 shares during the period. Miller Howard Investments Inc. NY bought a new stake in Rice Midstream Partners in the 2nd quarter valued at $1,634,000. Oslo Asset Management AS bought a new stake in Rice Midstream Partners in the 2nd quarter valued at $7,785,000. Finally, Municipal Employees Retirement System of Michigan bought a new stake in Rice Midstream Partners in the 2nd quarter valued at $3,160,000.
Shares of Rice Midstream Partners (NYSE RMP) opened at $20.63 on Friday. Rice Midstream Partners has a 12 month low of $16.87 and a 12 month high of $26.42. The stock has a market capitalization of $1,517.32, a P/E ratio of 11.99, a PEG ratio of 0.88 and a beta of 1.28. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.95 and a current ratio of 0.95.
Rice Midstream Partners (NYSE:RMP) last announced its quarterly earnings data on Thursday, November 2nd. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11. Rice Midstream Partners had a return on equity of 13.59% and a net margin of 59.24%. The company had revenue of $81.70 million for the quarter, compared to analysts’ expectations of $65.25 million. During the same quarter in the prior year, the business posted $0.30 EPS. The business’s revenue was up 98.8% compared to the same quarter last year. research analysts forecast that Rice Midstream Partners will post 1.56 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 16th. Investors of record on Tuesday, November 7th were paid a $0.2814 dividend. This represents a $1.13 dividend on an annualized basis and a yield of 5.46%. The ex-dividend date of this dividend was Monday, November 6th. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.27. Rice Midstream Partners’s dividend payout ratio is 65.70%.
About Rice Midstream Partners
Rice Midstream Partners LP owns, operates, develops and acquires midstream assets in the Appalachian Basin. The Company’s segments are 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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