Alps Advisors Inc. boosted its stake in shares of Rice Midstream Partners LP (NYSE:RMP) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,365,854 shares of the oil and gas producer’s stock after buying an additional 204,375 shares during the period. Rice Midstream Partners makes up about 0.7% of Alps Advisors Inc.’s portfolio, making the stock its 26th largest position. Alps Advisors Inc. owned 7.30% of Rice Midstream Partners worth $106,995,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of RMP. Global X Management Co. LLC increased its position in shares of Rice Midstream Partners by 3.1% in the first quarter. Global X Management Co. LLC now owns 19,059 shares of the oil and gas producer’s stock valued at $481,000 after buying an additional 565 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of Rice Midstream Partners by 40.6% in the first quarter. Alliancebernstein L.P. now owns 13,351 shares of the oil and gas producer’s stock valued at $337,000 after buying an additional 3,855 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Rice Midstream Partners by 16.6% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 31,000 shares of the oil and gas producer’s stock valued at $782,000 after buying an additional 4,420 shares during the last quarter. BNP Paribas Arbitrage SA purchased a new position in shares of Rice Midstream Partners during the first quarter valued at approximately $116,000. Finally, Russell Investments Group Ltd. increased 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.
Shares of Rice Midstream Partners LP (RMP) traded down 0.60% during trading on Tuesday, reaching $19.87. 15,983 shares of the company’s stock were exchanged. The company has a 50 day moving average of $20.26 and a 200 day moving average of $23.49. The stock has a market cap of $2.03 billion, a P/E ratio of 14.06 and a beta of 1.31. Rice Midstream Partners LP has a 12-month low of $16.87 and a 12-month high of $26.42.
Rice Midstream Partners (NYSE:RMP) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas producer reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.33 by $0.09. The firm 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 business’s quarterly revenue was up 55.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.38 earnings per share. Equities research analysts anticipate that Rice Midstream Partners LP will post $1.41 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Tuesday, August 8th will be issued a dividend of $0.2711 per share. This represents a $1.08 annualized dividend and a yield of 5.42%. The ex-dividend date is Friday, August 4th. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.26. Rice Midstream Partners’s payout ratio is 70.13%.
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Several equities analysts recently commented on the stock. Scotiabank set a $29.00 price target on shares of Rice Midstream Partners and gave the company a “buy” rating in a report on Saturday, April 22nd. Drexel Hamilton downgraded shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Mitsubishi UFJ Financial Group downgraded shares of Rice Midstream Partners from an “overweight” rating to a “neutral” rating and set a $23.00 price target on the stock. in a report on Wednesday, June 21st. BidaskClub upgraded shares of Rice Midstream Partners from a “strong sell” rating to a “sell” rating in a report on Thursday, June 29th. Finally, Zacks Investment Research upgraded shares of Rice Midstream Partners from a “sell” rating to a “hold” rating in a report on Thursday, August 10th. One equities research 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. The stock presently has an average rating of “Hold” and a consensus target price of $23.78.
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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