Rice Midstream Partners LP (RMP) reported quarterly earnings results on Wednesday, Aug-3-2016. The company said it had a profit of $0.38 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.12. Analysts had a consensus of $0.26. The company posted revenue of $46.55 million in the period, compared to analysts expectations of $39.95 million. The company’s revenue was up 63.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 EPS.
Many Wall Street Analysts have commented on Rice Midstream Partners LP. Company shares were Reiterated by Barclays on May 10, 2016 to “Overweight”, Firm has raised the Price Target to $ 22 from a previous price target of $17 .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 .
Rice Midstream Partners LP closed down -0.14 points or -0.74% at $18.79 with 2,33,552 shares getting traded on Tusday. Post opening the session at $19.07, the shares hit an intraday low of $18.66 and an intraday high of $19.23 and the price fluctuated in this range throughout the day.Shares ended Tusday session in Red.
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.