$59.76 Million in Sales Expected for Rice Midstream Partners LP (RMP) This Quarter
Wall Street analysts expect Rice Midstream Partners LP (NYSE:RMP) to report $59.76 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Rice Midstream Partners’ earnings, with the lowest sales estimate coming in at $55.70 million and the highest estimate coming in at $63.81 million. Rice Midstream Partners posted sales of $46.55 million in the same quarter last year, which would indicate a positive year over year growth rate of 28.4%. The company is scheduled to issue its next quarterly earnings report after the market closes on Wednesday, August 2nd.
According to Zacks, analysts expect that Rice Midstream Partners will report full-year sales of $59.76 million for the current year, with estimates ranging from $251.00 million to $263.10 million. For the next fiscal year, analysts anticipate that the business will post sales of $313.71 million per share, with estimates ranging from $296.04 million to $323.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Rice Midstream Partners.
Rice Midstream Partners (NYSE:RMP) last released its earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Rice Midstream Partners had a net margin of 58.46% and a return on equity of 12.79%. The business had revenue of $62.75 million during the quarter, compared to analysts’ expectations of $56.64 million.
A number of analysts have commented on RMP shares. US Capital Advisors restated a “hold” rating on shares of Rice Midstream Partners in a research report on Monday. TheStreet cut Rice Midstream Partners from a “b-” rating to a “c+” rating in a research report on Friday, July 14th. Wells Fargo & Company raised Rice Midstream Partners from a “market perform” rating to an “outperform” rating in a research note on Monday. Zacks Investment Research lowered Rice Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, ValuEngine upgraded Rice Midstream Partners from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. Rice Midstream Partners currently has an average rating of “Hold” and a consensus price target of $24.22.
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Rice Midstream Partners (NYSE:RMP) traded down 0.48% during trading on Wednesday, hitting $20.67. 153,288 shares of the company traded hands. The firm has a market capitalization of $2.11 billion, a P/E ratio of 15.17 and a beta of 1.30. Rice Midstream Partners has a 12-month low of $16.87 and a 12-month high of $26.42. The stock has a 50-day moving average price of $21.56 and a 200-day moving average price of $23.95.
Large investors have recently modified their holdings of the company. UBS Group AG increased its position in Rice Midstream Partners by 379.5% in the first quarter. UBS Group AG now owns 1,643,365 shares of the oil and gas producer’s stock valued at $41,446,000 after buying an additional 1,300,621 shares during the last quarter. Brookfield Asset Management Inc. increased its position in Rice Midstream Partners by 94.7% in the first quarter. Brookfield Asset Management Inc. now owns 2,098,371 shares of the oil and gas producer’s stock valued at $52,921,000 after buying an additional 1,020,490 shares during the last quarter. HITE Hedge Asset Management LLC increased its position in Rice Midstream Partners by 200.2% in the fourth quarter. HITE Hedge Asset Management LLC now owns 1,121,873 shares of the oil and gas producer’s stock valued at $27,576,000 after buying an additional 748,125 shares during the last quarter. Clearbridge Investments LLC increased its position in Rice Midstream Partners by 55.4% in the first quarter. Clearbridge Investments LLC now owns 1,951,816 shares of the oil and gas producer’s stock valued at $49,225,000 after buying an additional 695,930 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Rice Midstream Partners by 338.8% in the second quarter. Bank of Montreal Can now owns 783,300 shares of the oil and gas producer’s stock valued at $15,619,000 after buying an additional 604,781 shares during the last quarter.
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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