Rice Energy’s (RICE) “Sector Outperform” Rating Reaffirmed at Scotiabank
Scotiabank reissued their sector outperform rating on shares of Rice Energy Inc. (NYSE:RICE) in a research report sent to investors on Wednesday morning. The firm currently has a $32.00 target price on the stock, up from their prior target price of $30.00.
Several other brokerages have also recently commented on RICE. Jefferies Group reiterated a buy rating on shares of Rice Energy in a report on Friday, September 9th. Howard Weil upped their target price on Rice Energy from $30.00 to $32.00 and gave the company a sector outperform rating in a report on Tuesday. Goldman Sachs Group Inc. cut Rice Energy from a neutral rating to a not rated rating in a report on Tuesday, September 27th. Williams Capital assumed coverage on Rice Energy in a report on Monday, August 29th. They issued a hold rating and a $29.00 target price on the stock. Finally, Mizuho assumed coverage on Rice Energy in a report on Wednesday, October 5th. They issued a buy rating and a $43.00 target price on the stock. Eight analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $27.17.
Shares of Rice Energy (NYSE:RICE) traded down 3.31% during trading on Wednesday, hitting $26.90. 980,009 shares of the stock were exchanged. The firm’s 50-day moving average is $26.82 and its 200 day moving average is $21.83. Rice Energy has a 1-year low of $7.92 and a 1-year high of $29.36. The company’s market cap is $4.21 billion.
Rice Energy (NYSE:RICE) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.06) by $1.01. Rice Energy had a negative net margin of 70.19% and a positive return on equity of 1.01%. The company earned $116 million during the quarter, compared to the consensus estimate of $180.12 million. During the same quarter in the previous year, the company earned $0.03 earnings per share. The business’s revenue was up 2.7% on a year-over-year basis. Equities analysts forecast that Rice Energy will post $0.04 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Harvest Fund Advisors LLC bought a new position in shares of Rice Energy during the second quarter valued at approximately $117,712,000. FMR LLC increased its position in shares of Rice Energy by 222.7% in the second quarter. FMR LLC now owns 3,444,714 shares of the company’s stock valued at $75,921,000 after buying an additional 2,377,400 shares in the last quarter. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Rice Energy during the second quarter valued at approximately $39,143,000. Finally, Adage Capital Partners GP L.L.C. bought a new position in shares of Rice Energy during the first quarter valued at approximately $24,779,000. Institutional investors own 76.44% 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.
Receive News & Stock Ratings for Rice Energy Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rice Energy Inc. and related stocks with our FREE daily email newsletter.