A number of other research analysts have also recently commented on the company. Zacks Investment Research raised Rice Midstream Partners from a hold rating to a strong-buy rating and set a $24.00 target price on the stock in a research note on Wednesday, September 14th. Mitsubishi UFJ Financial Group reissued an overweight rating on shares of Rice Midstream Partners in a research note on Thursday, September 1st. Stifel Nicolaus cut Rice Midstream Partners from a buy rating to a hold rating in a research note on Friday, August 26th. TheStreet raised Rice Midstream Partners from a sell rating to a hold rating in a research note on Tuesday, August 23rd. Finally, Drexel Hamilton began coverage on Rice Midstream Partners in a research note on Tuesday, August 16th. They issued a buy rating on the stock. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $20.75.
Rice Midstream Partners (NYSE:RMP) opened at 23.96 on Wednesday. Rice Midstream Partners has a 52-week low of $8.40 and a 52-week high of $24.30. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 18.65 and a beta of 1.35. The stock has a 50 day moving average price of $21.99 and a 200 day moving average price of $18.90.
Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.12. The firm had revenue of $46.55 million for the quarter, compared to analysts’ expectations of $39.23 million. Rice Midstream Partners had a net margin of 57.23% and a return on equity of 15.87%. The business’s quarterly revenue was up 63.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share. Equities research analysts forecast that Rice Midstream Partners will post ($0.13) earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Teilinger Capital Ltd. purchased a new stake in Rice Midstream Partners during the second quarter worth $1,552,000. Pointe Capital Management LLC raised its stake in Rice Midstream Partners by 9.6% in the second quarter. Pointe Capital Management LLC now owns 56,354 shares of the company’s stock worth $1,151,000 after buying an additional 4,926 shares in the last quarter. Bank of Montreal Can purchased a new stake in Rice Midstream Partners during the second quarter worth $2,717,000. First Western Capital Management Co purchased a new stake in Rice Midstream Partners during the second quarter worth $1,649,000. Finally, Creative Planning purchased a new stake in Rice Midstream Partners during the second quarter worth $112,000. Institutional investors own 94.44% of the company’s stock.
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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