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Analysts at GMP Securities initiated coverage on shares of Rice Energy (NASDAQ:RICE) in a research report issued to clients and investors on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $40.00 price target on the stock. GMP Securities’ target price would suggest a potential upside of 28.12% from the stock’s previous close.

Shares of Rice Energy (NASDAQ:RICE) opened at 31.47 on Tuesday. Rice Energy has a 1-year low of $20.78 and a 1-year high of $34.34. The stock has a 50-day moving average of $31.08 and a 200-day moving average of $27.64. The company has a market cap of $4.035 billion and a price-to-earnings ratio of 40.23.

Rice Energy (NASDAQ:RICE) last posted its quarterly earnings results on Tuesday, May 13th. The company reported $0.99 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.13 by $0.86. The company had revenue of $90.47 million for the quarter, compared to the consensus estimate of $76.63 million. The company’s quarterly revenue was up 585.6% on a year-over-year basis. On average, analysts predict that Rice Energy will post $0.54 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on RICE. Analysts at Johnson Rice downgraded shares of Rice Energy from an “overweight” rating to an “equal weight” rating in a research note on Thursday, June 12th. Separately, analysts at Howard Weil raised their price target on shares of Rice Energy from $33.00 to $39.00 in a research note on Friday, June 6th. They now have a “sector outperform” rating on the stock. Finally, analysts at Citigroup Inc. reiterated a “hold” rating on shares of Rice Energy in a research note on Wednesday, May 21st. They now have a $31.00 price target on the stock, up previously from $27.00. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $34.22.

Rice Energy Inc (NASDAQ:RICE) is an independent natural gas and oil company.

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