Rice Midstream Partners LP (RMP) Issues Earnings Results
Rice Midstream Partners LP (NYSE:RMP) released its earnings results on Thursday. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.11, Briefing.com reports. Rice Midstream Partners had a net margin of 59.24% and a return on equity of 13.69%. The company had revenue of $81.70 million during the quarter, compared to the consensus estimate of $65.25 million. During the same quarter in the prior year, the firm earned $0.30 EPS. The company’s revenue was up 98.8% compared to the same quarter last year.
Rice Midstream Partners (NYSE:RMP) traded down $0.20 during trading on Friday, hitting $20.66. 44,263 shares of the stock were exchanged, compared to its average volume of 425,906. The firm has a market cap of $1.50 billion, a P/E ratio of 11.89 and a beta of 1.28.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Tuesday, November 7th will be issued a dividend of $0.2814 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 5.45%. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.27. Rice Midstream Partners’s dividend payout ratio (DPR) is currently 62.79%.
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A number of research firms have issued reports on RMP. BMO Capital Markets set a $20.00 target price on shares of Rice Midstream Partners and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Scotiabank reiterated a “hold” rating on shares of Rice Midstream Partners in a research report on Tuesday, October 10th. Zacks Investment Research downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a research report on Tuesday, September 19th. TheStreet downgraded shares of Rice Midstream Partners from a “b-” rating to a “c+” rating in a research report on Friday, July 14th. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of Rice Midstream Partners from a “buy” rating to a “neutral” rating and cut their target price for the stock from $27.00 to $23.00 in a research report on Friday, September 8th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have given a buy rating to the company. Rice Midstream Partners currently has a consensus rating of “Hold” and an average target price of $21.63.
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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