Cushing Asset Management LP increased its position in Rice Midstream Partners LP (NYSE:RMP) by 31.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,078,226 shares of the oil and gas producer’s stock after acquiring an additional 492,688 shares during the period. Rice Midstream Partners comprises about 1.3% of Cushing Asset Management LP’s investment portfolio, making the stock its 25th biggest holding. Cushing Asset Management LP owned 2.83% of Rice Midstream Partners worth $44,620,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of RMP. Ferris Capital LLC bought a new stake in shares of Rice Midstream Partners in the fourth quarter worth $293,000. Wells Fargo & Company MN grew its holdings in shares of Rice Midstream Partners by 25.0% in the second quarter. Wells Fargo & Company MN now owns 17,202 shares of the oil and gas producer’s stock worth $343,000 after acquiring an additional 3,437 shares during the period. Allianz Asset Management GmbH bought a new stake in shares of Rice Midstream Partners in the third quarter worth $384,000. Franklin Square Holdings L.P. bought a new stake in shares of Rice Midstream Partners in the fourth quarter worth $397,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Rice Midstream Partners by 73.5% in the fourth quarter. Alliancebernstein L.P. now owns 25,000 shares of the oil and gas producer’s stock worth $537,000 after acquiring an additional 10,590 shares during the period.
Several analysts recently commented on the company. Citigroup assumed coverage on Rice Midstream Partners in a report on Monday, January 22nd. They issued a “neutral” rating and a $24.00 price objective for the company. Zacks Investment Research lowered Rice Midstream Partners from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 17th. Tudor Pickering reissued a “hold” rating on shares of Rice Midstream Partners in a report on Wednesday, December 13th. ValuEngine lowered Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Sunday, December 31st. Finally, Johnson Rice lowered Rice Midstream Partners from an “accumulate” rating to a “hold” rating in a report on Monday, January 29th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and two have assigned a buy rating to the company. Rice Midstream Partners presently has a consensus rating of “Hold” and a consensus price target of $22.00.
Rice Midstream Partners (NYSE:RMP) last released its quarterly earnings results on Thursday, February 15th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.05. Rice Midstream Partners had a return on equity of 11.37% and a net margin of 59.43%. equities research analysts expect that Rice Midstream Partners LP will post 1.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Friday, February 2nd were given a $0.2917 dividend. This represents a $1.17 annualized dividend and a dividend yield of 5.91%. This is an increase from Rice Midstream Partners’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Thursday, February 1st. Rice Midstream Partners’s payout ratio is presently 68.02%.
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.
Receive News & Ratings for Rice Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rice Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.