$67.37 Million in Sales Expected for Rice Midstream Partners LP (RMP) This Quarter
Equities research analysts forecast that Rice Midstream Partners LP (NYSE:RMP) will announce $67.37 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for Rice Midstream Partners’ earnings. The lowest sales estimate is $66.94 million and the highest is $67.80 million. Rice Midstream Partners reported sales of $41.07 million in the same quarter last year, which would suggest a positive year over year growth rate of 64%. The business is expected to report its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Rice Midstream Partners will report full-year sales of $67.37 million for the current financial year, with estimates ranging from $263.10 million to $272.00 million. For the next financial year, analysts forecast that the company will report sales of $318.44 million per share, with estimates ranging from $308.21 million to $325.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Rice Midstream Partners.
Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.09. Rice Midstream Partners had a return on equity of 12.71% and a net margin of 58.22%. The business had revenue of $72.38 million for the quarter, compared to analyst estimates of $58.20 million. During the same period last year, the company earned $0.38 EPS. The firm’s revenue was up 55.5% on a year-over-year basis.
A number of brokerages have issued reports on RMP. BMO Capital Markets set a $20.00 price target on shares of Rice Midstream Partners and gave the stock a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research raised shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. BidaskClub lowered shares of Rice Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Friday, July 28th. Scotiabank set a $22.00 price target on shares of Rice Midstream Partners and gave the stock a “hold” rating in a report on Saturday, July 22nd. Finally, US Capital Advisors reissued a “hold” rating on shares of Rice Midstream Partners in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. Rice Midstream Partners presently has a consensus rating of “Hold” and an average price target of $23.78.
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Large investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new stake in shares of Rice Midstream Partners during the first quarter worth $4,502,000. Russell Investments Group Ltd. raised its stake in shares of Rice Midstream Partners by 5.9% in the first quarter. Russell Investments Group Ltd. now owns 156,024 shares of the oil and gas producer’s stock worth $3,933,000 after buying an additional 8,642 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of Rice Midstream Partners during the first quarter worth $358,000. Jennison Associates LLC raised its stake in shares of Rice Midstream Partners by 16.2% in the first quarter. Jennison Associates LLC now owns 757,628 shares of the oil and gas producer’s stock worth $19,107,000 after buying an additional 105,618 shares during the last quarter. Finally, ING Groep NV bought a new stake in shares of Rice Midstream Partners during the first quarter worth $3,531,000.
Rice Midstream Partners (RMP) opened at 20.05 on Friday. The stock has a 50 day moving average price of $20.27 and a 200 day moving average price of $23.18. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.19 and a beta of 1.31. Rice Midstream Partners has a 52-week low of $16.87 and a 52-week high of $26.42.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Tuesday, August 8th were paid a dividend of $0.2711 per share. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, August 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 5.41%. Rice Midstream Partners’s payout ratio is presently 70.13%.
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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