Rice Midstream Partners LP (RMP) Position Increased by Advisors Asset Management Inc.
Advisors Asset Management Inc. raised its position in shares of Rice Midstream Partners LP (NYSE:RMP) by 53.9% during the second quarter, according to its most recent filing with the SEC. The fund owned 72,206 shares of the oil and gas producer’s stock after buying an additional 25,295 shares during the period. Advisors Asset Management Inc. owned about 0.10% of Rice Midstream Partners worth $1,440,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Global X Management Co. LLC boosted its stake in Rice Midstream Partners by 28.2% in the second quarter. Global X Management Co. LLC now owns 24,431 shares of the oil and gas producer’s stock valued at $487,000 after buying an additional 5,372 shares during the period. Tortoise Capital Advisors L.L.C. boosted its stake in Rice Midstream Partners by 10.7% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 8,184,689 shares of the oil and gas producer’s stock valued at $163,203,000 after buying an additional 788,842 shares during the period. Municipal Employees Retirement System of Michigan purchased a new stake in Rice Midstream Partners during the second quarter valued at $3,160,000. Oslo Asset Management AS purchased a new stake in Rice Midstream Partners during the second quarter valued at $7,785,000. Finally, Miller Howard Investments Inc. NY purchased a new stake in Rice Midstream Partners during the second quarter valued at $1,634,000.
Rice Midstream Partners LP (NYSE:RMP) opened at 20.05 on Friday. The company has a 50 day moving average price of $20.27 and a 200-day moving average price of $23.18. The firm 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 LP has a 1-year low of $16.87 and a 1-year high of $26.42.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share 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 company had revenue of $72.38 million for the quarter, compared to analysts’ expectations of $58.20 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The firm’s revenue for the quarter was up 55.5% on a year-over-year basis. On average, analysts forecast 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, August 17th. Shareholders of record on Tuesday, August 8th were paid a dividend of $0.2711 per share. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 5.41%. The ex-dividend date of this dividend was Friday, August 4th. Rice Midstream Partners’s payout ratio is presently 70.13%.
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Several analysts have recently weighed in on the company. Stifel Nicolaus set a $19.00 price target on Rice Midstream Partners and gave the stock a “hold” rating in a report on Friday. BMO Capital Markets set a $20.00 price target on Rice Midstream Partners and gave the stock a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research upgraded Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. Mitsubishi UFJ Financial Group cut Rice Midstream Partners from an “overweight” rating to a “neutral” rating and set a $23.00 price target on the stock. in a report on Wednesday, June 21st. Finally, TheStreet cut Rice Midstream Partners from a “b-” rating to a “c+” rating in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $23.78.
Rice Midstream Partners Company Profile
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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