Rice Midstream Partners LP (RMP) Earns “Hold” Rating from AltaCorp Capital
RMP has been the subject of several other research reports. Zacks Investment Research downgraded shares of Rice Midstream Partners from a buy rating to a hold rating in a report on Wednesday, May 10th. Scotiabank set a $22.00 price target on shares of Rice Midstream Partners and gave the stock a hold rating in a research note on Saturday, July 22nd. BidaskClub cut shares of Rice Midstream Partners from a sell rating to a strong sell rating in a research note on Friday, July 28th. Stifel Nicolaus set a $19.00 price target on shares of Rice Midstream Partners and gave the stock a hold rating in a research note on Friday, August 25th. Finally, Johnson Rice cut shares of Rice Midstream Partners from a buy rating to a hold rating in a research note on Monday, June 19th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company. Rice Midstream Partners presently has an average rating of Hold and an average price target of $23.78.
Shares of Rice Midstream Partners (NYSE RMP) opened at 20.92 on Monday. The firm has a 50-day moving average price of $20.31 and a 200-day moving average price of $22.95. The company has a market capitalization of $2.14 billion, a PE ratio of 14.81 and a beta of 1.31. Rice Midstream Partners 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The firm had revenue of $72.38 million during the quarter, compared to the consensus estimate of $58.20 million. Rice Midstream Partners had a net margin of 58.22% and a return on equity of 12.71%. The company’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. Equities analysts anticipate that Rice Midstream Partners will post $1.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Tuesday, August 8th were given a dividend of $0.2711 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.18%. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, August 4th. Rice Midstream Partners’s dividend payout ratio is currently 70.13%.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP Paribas Arbitrage SA purchased a new stake in Rice Midstream Partners in the 1st quarter worth about $116,000. Proficio Capital Partners LLC purchased a new stake in Rice Midstream Partners in the 1st quarter worth about $220,000. Ameritas Investment Partners Inc. purchased a new stake in Rice Midstream Partners in the 1st quarter worth about $229,000. Oppenheimer Asset Management Inc. purchased a new stake in Rice Midstream Partners in the 1st quarter worth about $268,000. Finally, Alliancebernstein L.P. raised its position in Rice Midstream Partners by 5.9% in the 2nd quarter. Alliancebernstein L.P. now owns 14,143 shares of the oil and gas producer’s stock worth $282,000 after purchasing an additional 792 shares during the period.
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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