Rice Midstream Partners LP (RMP) was Reiterated by Barclays to “Overweight” according to the research note released today. The brokerage firm has raised the Price Target to $ 22 from a previous price target of $17 . Barclays advised their investors in a research report released on May 10, 2016.
Many Wall Street Analysts have commented on Rice Midstream Partners LP. Company shares were Reiterated by Stifel on May 6, 2016 to “Buy”, Firm has raised the Price Target to $ 20 from a previous price target of $18 .Company shares were Reiterated by Stifel on Apr 13, 2016 to “Buy”, Firm has raised the Price Target to $ 18 from a previous price target of $16 .Stifel Initiated Rice Midstream Partners LP on Mar 17, 2016 to “Buy”, Price Target of the shares are set at $16.
On the company’s financial health, Rice Midstream Partners LP reported $0.48 EPS for the quarter, beating the analyst consensus estimate by $ 0.24 according to the earnings call on May 4, 2016. Analyst had a consensus of $0.24. The company had revenue of $54.50 million for the quarter, compared to analysts expectations of $32.31 million. The company’s revenue was up 105.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 EPS.
Rice Midstream Partners LP opened for trading at $17.22 and hit $18.4 on the upside on Friday, eventually ending the session at $18.01, with a gain of 3.92% or 0.68 points. The heightened volatility saw the trading volume jump to 78,053 shares. Company has a market cap of $1,277 M.
In a different news, on Aug 21, 2015, Grayson T. Lisenby (officer ) purchased 3,500 shares at $15.90 per share price. According to the SEC, on Aug 11, 2015, James Wilmot Rogers (officer ) purchased 3,000 shares at $16.40 per share price. On Mar 17, 2015, William E. Jordan (officer ) purchased 2,500 shares at $13.92 per share price, according to the Form-4 filing with the securities and exchange commission.
Rice Midstream Partners LP is a limited partnership that owns operates develops and acquires midstream assets in the Appalachian Basin. The Company is engaged in oil and natural gas gathering and processing. The Company’s assets consist of natural gas gathering and compression assets servicing producers in the developing dry gas core of the Marcellus Shale in southwestern Pennsylvania. The Company provides its services under long-term fixed-fee contracts primarily to Rice Energy Inc. in one of its core operating areas. The Company’s assets consisted of: a 2.8 million of dekatherms per day high-pressure dry gas gathering system and associated compression in Washington County Pennsylvania and a 420 million of dekatherms per day high-pressure dry gas gathering system in Greene County Pennsylvania.