Research analysts at Goldman Sachs Group Inc. initiated coverage on shares of Rice Midstream Partners LP (NYSE:RMP) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating and a $30.00 price target on the stock. Goldman Sachs Group Inc.’s target price would suggest a potential upside of 35.99% from the company’s current price.
Several other equities research analysts have also commented on RMP. Zacks Investment Research lowered shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 20th. Barclays PLC boosted their target price on shares of Rice Midstream Partners from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Monday, August 8th. Drexel Hamilton started coverage on shares of Rice Midstream Partners in a research report on Tuesday, August 16th. They issued a “buy” rating on the stock. TheStreet upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. Finally, Stifel Nicolaus lowered shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research report on Friday, August 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. Rice Midstream Partners presently has a consensus rating of “Buy” and a consensus price target of $23.71.
Rice Midstream Partners (NYSE:RMP) opened at 22.06 on Monday. The firm’s 50-day moving average is $21.97 and its 200 day moving average is $20.66. Rice Midstream Partners has a 52 week low of $8.40 and a 52 week high of $24.30. The stock has a market cap of $2.25 billion, a price-to-earnings ratio of 16.35 and a beta of 1.43.
Rice Midstream Partners (NYSE:RMP) last issued its earnings results on Wednesday, November 2nd. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.27 by $0.03. The company had revenue of $41.10 million for the quarter, compared to analyst estimates of $16.85 million. Rice Midstream Partners had a net margin of 57.67% and a return on equity of 15.83%. The business’s revenue was up 36.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.21 EPS. On average, equities research analysts expect that Rice Midstream Partners will post $1.40 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, November 10th. Investors of record on Tuesday, November 1st were paid a $0.237 dividend. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, October 28th. This represents a $0.95 annualized dividend and a yield of 4.30%. Rice Midstream Partners’s payout ratio is presently 70.37%.
In other news, insider James Wilmot Rogers bought 4,000 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was purchased at an average price of $21.10 per share, with a total value of $84,400.00. Following the purchase, the insider now owns 29,152 shares of the company’s stock, valued at approximately $615,107.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Harvest Fund Advisors LLC increased its position in shares of Rice Midstream Partners by 18.0% in the second quarter. Harvest Fund Advisors LLC now owns 8,419,408 shares of the company’s stock valued at $172,009,000 after buying an additional 1,283,932 shares during the last quarter. Eagle Global Advisors LLC increased its position in Rice Midstream Partners by 175.9% in the second quarter. Eagle Global Advisors LLC now owns 1,394,129 shares of the company’s stock worth $28,482,000 after buying an additional 888,860 shares in the last quarter. JPMorgan Chase & Co. increased its position in Rice Midstream Partners by 3,528.6% in the third quarter. JPMorgan Chase & Co. now owns 823,802 shares of the company’s stock worth $19,985,000 after buying an additional 801,099 shares in the last quarter. Duff & Phelps Investment Management Co. bought a new position in Rice Midstream Partners during the second quarter worth approximately $12,632,000. Finally, Cohen & Steers Inc. increased its position in Rice Midstream Partners by 41.1% in the second quarter. Cohen & Steers Inc. now owns 1,714,632 shares of the company’s stock worth $35,030,000 after buying an additional 499,026 shares in the last quarter. 67.83% of the stock is owned by hedge funds and other institutional investors.
Rice Midstream Partners Company Profile