Rice Midstream Partners LP (RMP) was Reiterated by Scotia Howard Weil to “Sector Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 29 from a previous price target of $27 . Scotia Howard Weil advised their investors in a research report released on Oct 11, 2016.
On the company’s financial health, Rice Midstream Partners LP reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.12 according to the earnings call on Aug 3, 2016. Analyst had a consensus of $0.26. The company had revenue of $46.55 million for the quarter, 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.
Rice Midstream Partners LP closed down -0.17 points or -0.74% at $22.8 with 1,95,511 shares getting traded on Friday. Post opening the session at $22.94, the shares hit an intraday low of $22.61 and an intraday high of $23.02 and the price fluctuated in this range throughout the day.Shares ended Friday 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.