Rice Midstream Partners LP (RMP) PT Raised to $29.00 at Howard Weil
Rice Midstream Partners LP (NYSE:RMP) had its price target upped by stock analysts at Howard Weil from $27.00 to $29.00 in a report issued on Tuesday. The brokerage presently has a “sector outperform” rating on the stock. Howard Weil’s target price suggests a potential upside of 27.19% from the stock’s current price.
RMP has been the topic of several other reports. Stifel Nicolaus cut shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Friday, August 26th. TheStreet raised shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday, August 23rd. Zacks Investment Research cut shares of Rice Midstream Partners from a “strong-buy” rating to a “hold” rating in a report on Friday, September 30th. Goldman Sachs Group Inc. lowered shares of Rice Midstream Partners from a “buy” rating to a “not rated” rating in a research note on Wednesday, September 28th. Finally, Mitsubishi UFJ Financial Group reiterated an “overweight” rating on shares of Rice Midstream Partners in a research note on Thursday, September 1st. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.00.
Rice Midstream Partners (NYSE:RMP) last posted its quarterly earnings results on Wednesday, August 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating 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 firm’s quarterly revenue was up 63.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.21 earnings per share.
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Several institutional investors have recently added to or reduced their stakes in RMP. Creative Planning purchased a new position in Rice Midstream Partners during the second quarter valued at approximately $112,000. Janney Montgomery Scott LLC purchased a new position in Rice Midstream Partners during the second quarter valued at approximately $185,000. BNP Paribas Arbitrage SA raised its position in Rice Midstream Partners by 10.4% in the second quarter. BNP Paribas Arbitrage SA now owns 12,128 shares of the company’s stock valued at $248,000 after buying an additional 1,144 shares in the last quarter. Global X Management Co. LLC purchased a new position in Rice Midstream Partners during the second quarter valued at approximately $255,000. Finally, State Street Corp raised its position in Rice Midstream Partners by 3.9% in the first quarter. State Street Corp now owns 26,293 shares of the company’s stock valued at $391,000 after buying an additional 983 shares in the last quarter. Institutional investors and hedge funds own 94.44% of the company’s stock.
About Rice Midstream Partners
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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