Rice Energy Inc. (RICE) Coverage Initiated at Mizuho
Research analysts at Mizuho initiated coverage on shares of Rice Energy Inc. (NYSE:RICE) in a research note issued to investors on Wednesday. The firm set a “buy” rating and a $43.00 price target on the stock. Mizuho’s price objective would indicate a potential upside of 59.14% from the stock’s previous close.
RICE has been the subject of several other research reports. RBC Capital Markets reissued a “buy” rating and set a $30.00 price target (up previously from $29.00) on shares of Rice Energy in a report on Monday. Jefferies Group reissued a “buy” rating on shares of Rice Energy in a report on Friday, September 9th. National Securities boosted their price target on shares of Rice Energy from $29.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, September 28th. Williams Capital initiated coverage on shares of Rice Energy in a report on Monday, August 29th. They set a “hold” rating and a $29.00 price target for the company. Finally, Zacks Investment Research raised shares of Rice Energy from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, June 29th. Seven equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Rice Energy has a consensus rating of “Buy” and an average price target of $26.73.
Rice Energy (NYSE:RICE) opened at 27.02 on Wednesday. The firm’s 50-day moving average is $26.71 and its 200 day moving average is $21.40. Rice Energy has a 12-month low of $7.92 and a 12-month high of $29.36. The stock’s market capitalization is $4.23 billion.
Rice Energy (NYSE:RICE) last released its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by $1.01. The business earned $116 million during the quarter, compared to analyst estimates of $180.12 million. Rice Energy had a positive return on equity of 1.01% and a negative net margin of 70.19%. The business’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.03 EPS. Equities research analysts anticipate that Rice Energy will post $0.04 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Rice Energy by 37.3% in the second quarter. Vanguard Group Inc. now owns 8,087,836 shares of the company’s stock valued at $178,256,000 after buying an additional 2,195,887 shares during the period. Harvest Fund Advisors LLC acquired a new position in Rice Energy during the second quarter valued at $117,712,000. Boston Partners boosted its position in Rice Energy by 14.7% in the second quarter. Boston Partners now owns 4,908,066 shares of the company’s stock valued at $108,174,000 after buying an additional 628,782 shares during the period. Dimensional Fund Advisors LP boosted its position in Rice Energy by 58.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,592,963 shares of the company’s stock valued at $101,232,000 after buying an additional 1,702,757 shares during the period. Finally, Lord Abbett & CO. LLC boosted its position in Rice Energy by 5.8% in the second quarter. Lord Abbett & CO. LLC now owns 3,867,987 shares of the company’s stock valued at $85,250,000 after buying an additional 211,181 shares during the period. Hedge funds and other institutional investors own 95.95% of the company’s stock.
Rice Energy Company Profile
Rice Energy Inc (Rice Energy) is an independent natural gas and oil company. The Company is engaged in the acquisition, exploration and development of natural gas, oil and natural gas liquids (NGL) properties in the Appalachian Basin. The Company conducts its operations through two segments: Exploration and Production, and Midstream.
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