Bank of New York Mellon Corp cut its position in shares of Rice Midstream Partners LP (NYSE:RMP) by 14.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 261,300 shares of the oil and gas producer’s stock after selling 42,883 shares during the period. Bank of New York Mellon Corp owned 0.26% of Rice Midstream Partners worth $6,590,000 as of its most recent SEC filing.
Several other large investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its stake in 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 worth $3,933,000 after buying an additional 8,642 shares during the period. Guggenheim Capital LLC raised its stake in Rice Midstream Partners by 14.0% in the fourth quarter. Guggenheim Capital LLC now owns 90,611 shares of the oil and gas producer’s stock worth $2,227,000 after buying an additional 11,099 shares during the period. Virtu Financial LLC bought a new stake in Rice Midstream Partners during the first quarter worth about $358,000. Hollencrest Securities LLC bought a new stake in Rice Midstream Partners during the first quarter worth about $396,000. Finally, Telemus Capital LLC bought a new stake in Rice Midstream Partners during the first quarter worth about $404,000.
Rice Midstream Partners LP (NYSE:RMP) traded down 0.19% on Friday, reaching $20.57. The company’s stock had a trading volume of 123,612 shares. The stock’s 50 day moving average is $20.67 and its 200-day moving average is $23.77. The firm has a market capitalization of $1.51 billion, a PE ratio of 14.19 and a beta of 1.30. Rice Midstream Partners LP has a 52 week low of $16.87 and a 52 week high of $26.42.
Rice Midstream Partners (NYSE:RMP) last issued its quarterly earnings results on Wednesday, May 3rd. The oil and gas producer reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Rice Midstream Partners had a return on equity of 12.79% and a net margin of 58.46%. The firm had revenue of $62.75 million for the quarter, compared to analyst estimates of $56.64 million. Analysts predict that Rice Midstream Partners LP will post $1.39 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Investors of record on Tuesday, August 8th will be paid a dividend of $0.2711 per share. This represents a $1.08 annualized dividend and a yield of 5.27%. This is a positive change from Rice Midstream Partners’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Friday, August 4th. Rice Midstream Partners’s payout ratio is currently 69.33%.
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A number of research analysts recently commented on the company. Zacks Investment Research raised Rice Midstream Partners from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a report on Wednesday, May 3rd. Scotiabank reissued a “buy” rating and issued a $28.00 price target on shares of Rice Midstream Partners in a report on Monday, April 3rd. TheStreet raised Rice Midstream Partners from a “c+” rating to a “b” rating in a report on Friday, April 21st. Drexel Hamilton downgraded Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Finally, Wells Fargo & Company downgraded Rice Midstream Partners from an “outperform” rating to a “market perform” rating in a report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the stock. Rice Midstream Partners presently has a consensus rating of “Hold” and an average price target of $24.22.
Rice Midstream Partners Company Profile
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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