Rice Midstream Partners LP (RMP) Receives $21.17 Consensus Price Target from Brokerages

Shares of Rice Midstream Partners LP (NYSE:RMP) have been given an average rating of “Hold” by the nineteen brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $21.17.

RMP has been the topic of a number of recent research reports. Wells Fargo & Company raised shares of Rice Midstream Partners from a “market perform” rating to an “outperform” rating in a research report on Monday, July 17th. Scotiabank set a $22.00 price target on shares of Rice Midstream Partners and gave the company a “hold” rating in a research report on Saturday, July 22nd. Goldman Sachs Group, Inc. (The) cut shares of Rice Midstream Partners from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $27.00 to $23.00 in a research report on Friday, September 8th. Canaccord Genuity reissued a “buy” rating on shares of Rice Midstream Partners in a research report on Monday, September 4th. Finally, BMO Capital Markets set a $20.00 target price on shares of Rice Midstream Partners and gave the stock a “buy” rating in a research report on Thursday, August 10th.

Several large investors have recently modified their holdings of the stock. CNH Partners LLC increased its stake in shares of Rice Midstream Partners by 0.4% in the second quarter. CNH Partners LLC now owns 24,968 shares of the oil and gas producer’s stock worth $498,000 after buying an additional 100 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of Rice Midstream Partners by 5.9% in the second quarter. Alliancebernstein L.P. now owns 14,143 shares of the oil and gas producer’s stock worth $282,000 after buying an additional 792 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Rice Midstream Partners by 0.7% in the second quarter. Bank of New York Mellon Corp now owns 263,078 shares of the oil and gas producer’s stock worth $5,246,000 after buying an additional 1,778 shares during the last quarter. Proficio Capital Partners LLC increased its stake in shares of Rice Midstream Partners by 32.8% in the second quarter. Proficio Capital Partners LLC now owns 11,601 shares of the oil and gas producer’s stock worth $242,000 after buying an additional 2,867 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of Rice Midstream Partners by 25.0% in the second quarter. Wells Fargo & Company MN now owns 17,202 shares of the oil and gas producer’s stock worth $343,000 after buying an additional 3,437 shares during the last quarter.

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Shares of Rice Midstream Partners (NYSE:RMP) traded up 1.69% during midday trading on Wednesday, hitting $20.40. 1,092,232 shares of the company’s stock were exchanged. The stock has a market cap of $2.09 billion, a PE ratio of 14.44 and a beta of 1.30. Rice Midstream Partners has a 1-year low of $16.87 and a 1-year high of $26.42. The stock’s 50 day moving average is $21.06 and its 200-day moving average is $21.95.

Rice Midstream Partners (NYSE:RMP) last announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The firm had revenue of $72.38 million for the quarter, compared to analysts’ expectations of $58.20 million. Rice Midstream Partners had a net margin of 58.22% and a return on equity of 12.71%. Rice Midstream Partners’s revenue was up 55.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. Analysts predict that Rice Midstream Partners will post $1.43 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.2814 per share. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.27. This represents a $1.13 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date is Monday, November 6th. Rice Midstream Partners’s payout ratio is presently 70.13%.

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.

Analyst Recommendations for Rice Midstream Partners (NYSE:RMP)

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