Municipal Employees Retirement System of Michigan acquired a new position in shares of Rice Midstream Partners LP (NYSE:RMP) during the second quarter, Holdings Channel reports. The firm acquired 158,490 shares of the oil and gas producer’s stock, valued at approximately $3,160,000.
A number of other large investors also recently made changes to their positions in RMP. JPMorgan Chase & Co. raised its stake in shares of Rice Midstream Partners by 41.9% in the first quarter. JPMorgan Chase & Co. now owns 1,214,666 shares of the oil and gas producer’s stock worth $30,633,000 after buying an additional 358,460 shares during the last quarter. Heronetta Management L.P. raised its stake in shares of Rice Midstream Partners by 71.0% in the first quarter. Heronetta Management L.P. now owns 59,500 shares of the oil and gas producer’s stock worth $1,501,000 after buying an additional 24,700 shares during the last quarter. UBS Group AG raised its stake in shares of Rice Midstream Partners by 379.5% in the first quarter. UBS Group AG now owns 1,643,365 shares of the oil and gas producer’s stock worth $41,446,000 after buying an additional 1,300,621 shares during the last quarter. Morgan Stanley raised its stake in shares of Rice Midstream Partners by 7.2% in the first quarter. Morgan Stanley now owns 3,492,377 shares of the oil and gas producer’s stock worth $88,078,000 after buying an additional 235,377 shares during the last quarter. Finally, NBW Capital LLC bought a new stake in shares of Rice Midstream Partners during the first quarter worth $456,000.
Rice Midstream Partners LP (RMP) opened at 20.57 on Monday. The firm’s 50-day moving average is $20.67 and its 200-day moving average is $23.77. Rice Midstream Partners LP has a 52-week low of $16.87 and a 52-week high of $26.42. The stock has a market cap of $2.10 billion, a P/E ratio of 15.09 and a beta of 1.31.
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, hitting the Thomson Reuters’ consensus estimate of $0.36. The business had revenue of $62.75 million for the quarter, compared to analysts’ expectations of $56.64 million. Rice Midstream Partners had a net margin of 58.46% and a return on equity of 12.79%. Equities research analysts predict that Rice Midstream Partners LP will post $1.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 17th. Stockholders of record on Tuesday, August 8th will be given a dividend of $0.2711 per share. This represents a $1.08 annualized dividend and a dividend yield of 5.27%. The ex-dividend date is Friday, August 4th. This is a boost from Rice Midstream Partners’s previous quarterly dividend of $0.26. Rice Midstream Partners’s dividend payout ratio is currently 69.33%.
A number of equities research analysts recently weighed in on RMP shares. Zacks Investment Research lowered shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Scotiabank set a $22.00 price objective on shares of Rice Midstream Partners and gave the company a “hold” rating in a report on Saturday, July 22nd. BidaskClub lowered shares of Rice Midstream Partners from a “sell” rating to a “strong sell” rating in a report on Friday. Stifel Nicolaus reiterated a “hold” rating and set a $19.00 price objective (down previously from $25.00) on shares of Rice Midstream Partners in a report on Tuesday, June 20th. Finally, Johnson Rice lowered shares of Rice Midstream Partners from a “buy” rating to a “hold” rating in a report on Monday, June 19th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $24.22.
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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