Rice Midstream Partners LP (RMP) Expected to Announce Quarterly Sales of $67.37 Million
Wall Street analysts forecast that Rice Midstream Partners LP (NYSE:RMP) will announce sales of $67.37 million for the current quarter, according to Zacks. Two analysts have made estimates for Rice Midstream Partners’ earnings, with the highest sales estimate coming in at $67.80 million and the lowest estimate coming in at $66.94 million. Rice Midstream Partners reported sales of $41.07 million during the same quarter last year, which would suggest a positive year over year growth rate of 64%. The company is scheduled to announce its next earnings results on Wednesday, November 1st.
According to Zacks, analysts expect that Rice Midstream Partners will report full-year sales of $67.37 million for the current financial year, with estimates ranging from $263.10 million to $272.00 million. For the next year, analysts expect that the firm will report sales of $318.44 million per share, with estimates ranging from $308.21 million to $325.00 million. Zacks Investment Research’s 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 announced its quarterly earnings results on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.09. The business had revenue of $72.38 million during the quarter, compared to analysts’ expectations of $58.20 million. Rice Midstream Partners had a net margin of 58.22% and a return on equity of 12.71%. The firm’s revenue for the quarter was up 55.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 EPS.
A number of equities analysts recently commented on RMP shares. SunTrust Banks, Inc. cut Rice Midstream Partners from a “buy” rating to a “hold” rating and lowered their target price for the company from $28.00 to $21.00 in a report on Monday, June 19th. Drexel Hamilton cut Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Zacks Investment Research upgraded Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a report on Wednesday, May 3rd. Wells Fargo & Company upgraded Rice Midstream Partners from a “market perform” rating to an “outperform” rating in a report on Monday, July 17th. Finally, Scotiabank set a $22.00 target price on Rice Midstream Partners and gave the company a “hold” rating in a report on Saturday, July 22nd. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.78.
Several institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can bought a new position in shares of Rice Midstream Partners during the first quarter valued at about $4,502,000. Russell Investments Group Ltd. boosted its position in shares of Rice Midstream Partners by 5.9% in the first quarter. Russell Investments Group Ltd. now owns 156,024 shares of the oil and gas producer’s stock valued at $3,933,000 after buying an additional 8,642 shares during the last quarter. Virtu Financial LLC bought a new position in shares of Rice Midstream Partners during the first quarter valued at about $358,000. Jennison Associates LLC boosted its position in shares of Rice Midstream Partners by 16.2% in the first quarter. Jennison Associates LLC now owns 757,628 shares of the oil and gas producer’s stock valued at $19,107,000 after buying an additional 105,618 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of Rice Midstream Partners during the first quarter valued at about $3,531,000.
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Shares of Rice Midstream Partners (NYSE:RMP) traded down 1.13% during midday trading on Friday, reaching $20.05. 585,122 shares of the company’s stock traded hands. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 14.19 and a beta of 1.31. The company has a 50-day moving average of $20.27 and a 200-day moving average of $23.18. Rice Midstream Partners has a one year low of $16.87 and a one year high of $26.42.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Tuesday, August 8th were paid a $0.2711 dividend. This represents a $1.08 annualized dividend and a dividend yield of 5.41%. The ex-dividend date was Friday, August 4th. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.26. Rice Midstream Partners’s dividend payout ratio (DPR) is presently 70.13%.
About Rice Midstream Partners
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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