Rice Midstream Partners LP (RMP) Insider Acquires $84,400.00 in Stock
Rice Midstream Partners LP (NYSE:RMP) insider James Wilmot Rogers purchased 4,000 shares of the company’s stock in a transaction dated Monday, November 7th. The stock was bought at an average price of $21.10 per share, with a total value of $84,400.00. Following the completion of the transaction, the insider now directly owns 29,152 shares of the company’s stock, valued at $615,107.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Rice Midstream Partners LP (NYSE:RMP) opened at 21.36 on Friday. Rice Midstream Partners LP has a 1-year low of $8.40 and a 1-year high of $24.30. The firm’s 50-day moving average price is $22.42 and its 200-day moving average price is $20.29. The firm has a market capitalization of $1.73 billion, a PE ratio of 16.62 and a beta of 1.43.
Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings results on Wednesday, November 2nd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.27 by $0.03. Rice Midstream Partners had a net margin of 57.67% and a return on equity of 15.83%. The company earned $41.10 million during the quarter, compared to the consensus estimate of $16.85 million. During the same period last year, the firm earned $0.21 EPS. The company’s revenue for the quarter was up 36.5% on a year-over-year basis. On average, equities research analysts predict that Rice Midstream Partners LP will post $1.43 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Tuesday, November 1st were given a dividend of $0.237 per share. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.22. This represents a $0.95 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend was Friday, October 28th. Rice Midstream Partners’s payout ratio is currently 70.37%.
Hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning bought a new position in shares of Rice Midstream Partners during the second quarter valued at about $112,000. Janney Montgomery Scott LLC bought a new position in shares of Rice Midstream Partners during the second quarter valued at about $185,000. BNP Paribas Arbitrage SA increased its position in shares of Rice Midstream Partners by 10.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,128 shares of the company’s stock valued at $248,000 after buying an additional 1,144 shares in the last quarter. Global X Management Co. LLC bought a new position in shares of Rice Midstream Partners during the second quarter valued at about $255,000. Finally, Hollencrest Securities LLC bought a new position in shares of Rice Midstream Partners during the second quarter valued at about $432,000. Hedge funds and other institutional investors own 94.62% of the company’s stock.
A number of research firms have recently issued reports on RMP. Goldman Sachs Group Inc. began coverage on Rice Midstream Partners in a research report on Monday. They issued a “buy” rating and a $30.00 price target for the company. Zacks Investment Research lowered Rice Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday. Drexel Hamilton began coverage on Rice Midstream Partners in a research report on Tuesday, August 16th. They issued a “buy” rating for the company. Barclays PLC upped their price target on Rice Midstream Partners from $22.00 to $24.00 and gave the company an “overweight” rating in a research report on Monday, August 8th. Finally, Mitsubishi UFJ Financial Group restated an “overweight” rating on shares of Rice Midstream Partners in a research report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $23.71.
Rice Midstream Partners Company Profile
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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