Rice Midstream Partners LP (NYSE:RMP) released its quarterly earnings results on Thursday. The oil and gas producer reported $0.48 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate 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 period in the prior year, the firm earned $0.30 earnings per share. Rice Midstream Partners’s revenue was up 98.8% on a year-over-year basis.
Shares of Rice Midstream Partners (NYSE:RMP) traded down $0.20 during mid-day trading on Friday, reaching $20.66. 44,263 shares of the company traded hands, compared to its average volume of 425,906. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.17. The company has a market cap of $1.50 billion, a PE ratio of 11.89, a PEG ratio of 0.90 and a beta of 1.28.
The company 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. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.27. The ex-dividend date is Monday, November 6th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 5.45%. Rice Midstream Partners’s dividend payout ratio is presently 62.79%.
RMP has been the topic of a number of recent research reports. ValuEngine upgraded shares of Rice Midstream Partners from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. BMO Capital Markets set a $20.00 price objective on shares of Rice Midstream Partners and gave the stock a “buy” rating in a report on Thursday, August 10th. Canaccord Genuity restated a “buy” rating on shares of Rice Midstream Partners in a report on Monday, September 4th. Zacks Investment Research upgraded shares of Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Saturday, September 16th. Finally, TheStreet cut shares of Rice Midstream Partners from a “b-” rating to a “c+” rating in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.63.
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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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