Bank of New York Mellon Corp cut its stake in Rice Midstream Partners LP (NYSE:RMP) by 62.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 99,806 shares of the oil and gas producer’s stock after selling 163,272 shares during the period. Bank of New York Mellon Corp owned 0.14% of Rice Midstream Partners worth $2,090,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in RMP. CNH Partners LLC raised its stake in shares of Rice Midstream Partners by 0.4% during 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. raised its stake in shares of Rice Midstream Partners by 5.9% during 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. Wells Fargo & Company MN grew its holdings in Rice Midstream Partners by 25.0% during the second quarter. Wells Fargo & Company MN now owns 17,202 shares of the oil and gas producer’s stock valued at $343,000 after purchasing an additional 3,437 shares during the period. Huntington National Bank acquired a new position in Rice Midstream Partners during the third quarter valued at approximately $174,000. Finally, Oppenheimer Asset Management Inc. grew its holdings in Rice Midstream Partners by 79.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 19,004 shares of the oil and gas producer’s stock valued at $379,000 after purchasing an additional 8,385 shares during the period.
A number of research analysts recently issued reports on the stock. Citigroup assumed coverage on shares of Rice Midstream Partners in a report on Monday, January 22nd. They set a “neutral” rating and a $24.00 price objective for the company. Zacks Investment Research cut shares of Rice Midstream Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Tudor Pickering reiterated a “hold” rating on shares of Rice Midstream Partners in a report on Wednesday, December 13th. BMO Capital Markets set a $20.00 price target on shares of Rice Midstream Partners and gave the company a “buy” rating in a report on Tuesday, October 10th. Finally, Scotiabank reiterated a “hold” rating on shares of Rice Midstream Partners in a report on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, sixteen have issued a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $22.00.
Rice Midstream Partners LP (NYSE RMP) traded down $0.16 during midday trading on Wednesday, reaching $20.80. 1,711,174 shares of the company’s stock traded hands, compared to its average volume of 516,689. The company has a market capitalization of $1,568.07, a price-to-earnings ratio of 12.09, a P/E/G ratio of 0.78 and a beta of 1.26. Rice Midstream Partners LP has a 1 year low of $16.87 and a 1 year high of $26.42. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.95 and a quick ratio of 0.95.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings data on Thursday, November 2nd. The oil and gas producer reported $0.48 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.37 by $0.11. The company had revenue of $81.70 million for the quarter, compared to analyst estimates of $65.25 million. Rice Midstream Partners had a net margin of 59.24% and a return on equity of 13.59%. The company’s revenue was up 98.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. sell-side analysts expect that Rice Midstream Partners LP will post 1.72 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd will be given a $0.2917 dividend. The ex-dividend date is Thursday, February 1st. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.28. This represents a $1.17 annualized dividend and a dividend yield of 5.61%. Rice Midstream Partners’s dividend payout ratio is presently 65.70%.
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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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