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Rice Midstream Partners

NYSE:RMP
Snowflake Description

Very undervalued with adequate balance sheet and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
RMP
NYSE
$2B
Market Cap
  1. Home
  2. US
  3. Energy
Company description

Rice Midstream Partners LP owns, operates, develops, and acquires midstream assets in the Appalachian Basin. The last earnings update was 108 days ago. More info.


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RMP Share Price and Events
Price Volatility
RMP
Industry
5yr Volatility vs Market

Value

 Is Rice Midstream Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Rice Midstream Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Rice Midstream Partners.

NYSE:RMP Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 9.4%
Perpetual Growth Rate 10-Year US Government Bond Rate 3%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NYSE:RMP
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year US Govt Bond Rate 3%
Equity Risk Premium S&P Global 7.1%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.8
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.797 (1 + (1- 21%) (17.58%))
0.908
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.91
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2.95% + (0.908 * 7.05%)
9.35%

Discounted Cash Flow Calculation for NYSE:RMP using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Rice Midstream Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We use analyst's estimates of cash flows going forward 5 years for the 1st stage, the 2nd stage assumes the company grows at a stable rate into perpetuity.

NYSE:RMP DCF 1st Stage: Next 5 year cash flow forecast
2018 2019 2020 2021 2022
Levered FCF (USD, Millions) 0.00 154.00 181.72 212.61 246.63
Source Analyst x1 Analyst x1 Extrapolated @ (18%, capped from 63.23%) Extrapolated @ (17%, capped from 63.23%) Extrapolated @ (16%, capped from 63.23%)
Present Value
Discounted (@ 9.35%)
0.00 128.78 138.97 148.69 157.73
Present value of next 5 years cash flows $574
NYSE:RMP DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2022 × (1 + g) ÷ (Discount Rate – g)
= $247 × (1 + 2.95%) ÷ (9.35% – 2.95%)
$3,966
Present Value of Terminal Value = Terminal Value ÷ (1 + r)5
= $3,966 ÷ (1 + 9.35%)5
$2,536
NYSE:RMP Total Equity Value
Calculation Result
Total Equity Value = Present value of next 5 years cash flows + Terminal Value
= $574 + $2,536
$3,110
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,110 / 102
$30.4
NYSE:RMP Discount to Share Price
Calculation Result
Value per share (USD) From above. $30.40
Current discount Discount to share price of $17.90
= -1 x ($17.90 - $30.40) / $30.40
41.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Rice Midstream Partners is available for.
Intrinsic value
41%
Share price is $17.9 vs Future cash flow value of $30.4
Current Discount Checks
For Rice Midstream Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Rice Midstream Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Rice Midstream Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Rice Midstream Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Rice Midstream Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NYSE:RMP PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings () in USD $1.79
NYSE:RMP Share Price ** NYSE (2018-07-17) in USD $17.9
United States of America Oil and Gas Industry PE Ratio Median Figure of 300 Publicly-Listed Oil and Gas Companies 13.48x
United States of America Market PE Ratio Median Figure of 7,808 Publicly-Listed Companies 18.38x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Rice Midstream Partners.

NYSE:RMP PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:RMP Share Price ÷ EPS (both in USD)

= 17.9 ÷ 1.79

10.01x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Rice Midstream Partners is good value based on earnings compared to the US Oil and Gas industry average.
  • Rice Midstream Partners is good value based on earnings compared to the United States of America market.
Price based on expected Growth
Does Rice Midstream Partners's expected growth come at a high price?
Raw Data
NYSE:RMP PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.01x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
13.6%per year
United States of America Oil and Gas Industry PEG Ratio Median Figure of 221 Publicly-Listed Oil and Gas Companies 1.13x
United States of America Market PEG Ratio Median Figure of 5,905 Publicly-Listed Companies 1.6x

*Line of best fit is calculated by linear regression .

NYSE:RMP PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.01x ÷ 13.6%

0.73x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Rice Midstream Partners is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Rice Midstream Partners's assets?
Raw Data
NYSE:RMP PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings () in USD $21.49
NYSE:RMP Share Price * NYSE (2018-07-17) in USD $17.9
United States of America Oil and Gas Industry PB Ratio Median Figure of 799 Publicly-Listed Oil and Gas Companies 1.09x
United States of America Market PB Ratio Median Figure of 13,225 Publicly-Listed Companies 1.73x
NYSE:RMP PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:RMP Share Price ÷ Book Value per Share (both in USD)

= 17.9 ÷ 21.49

0.83x

* Primary Listing of Rice Midstream Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Rice Midstream Partners is good value based on assets compared to the US Oil and Gas industry average.
X
Value checks
We assess Rice Midstream Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. Rice Midstream Partners has a total score of 6/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Rice Midstream Partners expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
13.6%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Rice Midstream Partners expected to grow at an attractive rate?
  • Rice Midstream Partners's earnings growth is expected to exceed the low risk savings rate of 3%.
Growth vs Market Checks
  • Rice Midstream Partners's earnings growth is expected to exceed the United States of America market average.
  • Rice Midstream Partners's revenue growth is expected to exceed the United States of America market average.
Annual Growth Rates Comparison
Raw Data
NYSE:RMP Future Growth Rates Data Sources
Data Point Source Value (per year)
NYSE:RMP Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 13.6%
NYSE:RMP Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 11%
United States of America Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 9.2%
United States of America Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 5.1%
United States of America Market Earnings Growth Rate Market Cap Weighted Average 11.8%
United States of America Market Revenue Growth Rate Market Cap Weighted Average 6.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NYSE:RMP Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NYSE:RMP Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31
2021-12-31
2020-12-31 418 2
2019-12-31 388 304 232 4
2018-12-31 338 260 200 4
NYSE:RMP Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2018-03-31 316 190 183
2017-12-31 295 173 170
2017-09-30 276 183 162
2017-06-30 236 166 137
2017-03-31 210 164 122
2016-12-31 202 154 120
2016-09-30 171 122 98
2016-06-30 160 97 86
2016-03-31 142 81 71
2015-12-31 114 70 45
2015-09-30 89 52 58
2015-06-30 60 39 36

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Rice Midstream Partners's earnings are expected to grow by 13.6% yearly, however this is not considered high growth (20% yearly).
  • Rice Midstream Partners's revenue is expected to grow by 11% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NYSE:RMP Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from Rice Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:RMP Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 3.39 3.39 3.39 1.00
2021-12-31 3.03 3.03 3.03 1.00
2020-12-31 2.61 2.61 2.61 1.00
2019-12-31 2.22 2.26 2.18 2.00
2018-12-31 1.93 1.95 1.90 2.00
NYSE:RMP Past Financials Data
Date (Data in USD Millions) EPS *
2018-03-31 1.79
2017-12-31 1.66
2017-09-30 1.59
2017-06-30 1.41
2017-03-31 1.37
2016-12-31 1.47
2016-09-30 1.35
2016-06-30 1.29
2016-03-31 1.12
2015-12-31 0.76
2015-09-30 1.01
2015-06-30 0.63

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Rice Midstream Partners will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Rice Midstream Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the United States of America market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the United States of America market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Rice Midstream Partners has a total score of 3/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Rice Midstream Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Rice Midstream Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Rice Midstream Partners has delivered over 20% year on year earnings growth in the past 5 years.
  • Rice Midstream Partners's 1-year earnings growth is less than its 5-year average (49.8% vs 61.3%)
  • Rice Midstream Partners's earnings growth has exceeded the US Oil and Gas industry average in the past year (49.8% vs 42.7%).
Earnings and Revenue History
Rice Midstream Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Rice Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NYSE:RMP Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-03-31 316.41 182.98 28.73
2017-12-31 294.69 170.19 27.36
2017-09-30 276.29 161.72 26.68
2017-06-30 235.66 136.78 25.29
2017-03-31 209.83 122.13 23.98
2016-12-31 201.62 120.18 23.21
2016-09-30 171.47 98.34 21.26
2016-06-30 160.48 86.05 21.48
2016-03-31 142.49 70.56 20.69
2015-12-31 114.46 45.20 20.64
2015-09-30 88.52 57.88 24.59
2015-06-30 60.06 36.50 24.98
2015-03-31 32.89 18.69 23.91
2014-12-31 6.45 1.16 26.20
2014-09-30 3.21 -22.74 18.29
2014-06-30 1.73 -17.39 13.06
2014-03-31 0.45 -13.79 9.36
2013-12-31 0.50 -9.01 3.10
2012-12-31 -2.43 0.63

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Rice Midstream Partners has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Rice Midstream Partners used its assets more efficiently than the US Oil and Gas industry average last year based on Return on Assets.
  • Rice Midstream Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Rice Midstream Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Rice Midstream Partners has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Rice Midstream Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Rice Midstream Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Rice Midstream Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Rice Midstream Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Rice Midstream Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Rice Midstream Partners Company Filings, last reported 3 months ago.

NYSE:RMP Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2018-03-31 2,545.66 325.00 46.52
2017-12-31 2,524.82 286.00 10.54
2017-09-30 1,232.22 222.00 1.81
2017-06-30 1,209.92 206.00 12.20
2017-03-31 1,193.65 190.00 12.99
2016-12-31 1,182.41 190.00 21.83
2016-09-30 733.38 0.00 7.63
2016-06-30 726.29 0.00 15.32
2016-03-31 533.40 159.00 9.81
2015-12-31 511.83 143.00 7.60
2015-09-30 406.88 72.00 19.23
2015-06-30 404.61 30.00 0.28
2015-03-31 402.07 0.00 8.96
2014-12-31 429.94 0.00 26.83
2014-09-30 338.42 0.00 25.00
2014-06-30 237.61 0.00 6.86
2014-03-31 65.78 0.00 0.15
2013-12-31 65.78 0.00 0.15
2012-12-31 24.06 0.00
  • Rice Midstream Partners's level of debt (12.8%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0% vs 12.8% today).
  • Debt is well covered by operating cash flow (58.3%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 19.5x coverage).
X
Financial health checks
We assess Rice Midstream Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Rice Midstream Partners has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Rice Midstream Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
6.81%
Current annual income from Rice Midstream Partners dividends. Estimated to be 8.76% next year.
If you bought $2,000 of Rice Midstream Partners shares you are expected to receive $136 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Rice Midstream Partners's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).
  • Rice Midstream Partners's dividend is above the markets top 25% of dividend payers in United States of America (3.98%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NYSE:RMP Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
United States of America Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 209 Stocks 4.1%
United States of America Market Average Dividend Yield Market Cap Weighted Average of 5856 Stocks 3%
United States of America Minimum Threshold Dividend Yield 10th Percentile 0.8%
United States of America Bottom 25% Dividend Yield 25th Percentile 1.5%
United States of America Top 25% Dividend Yield 75th Percentile 4%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NYSE:RMP Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 2.24 1.00
2021-12-31 2.01 1.00
2020-12-31 1.73 4.00
2019-12-31 1.49 5.00
2018-12-31 1.29 5.00
NYSE:RMP Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2018-04-26 1.220 6.745
2018-01-18 1.167 6.024
2017-10-20 1.126 5.350
2017-07-21 1.084 5.234
2017-04-21 1.043 4.604
2017-01-20 1.002 4.035
2016-10-21 0.948 4.246
2016-07-22 0.894 4.136
2016-04-22 0.840 4.575
2016-01-22 0.786 6.242
2015-10-23 0.774 6.022
2015-07-24 0.762 5.019
2015-04-24 0.750 4.567
2015-01-30 0.750 5.181

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, Rice Midstream Partners has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but Rice Midstream Partners only paid a dividend in the past 3 years.
Current Payout to shareholders
What portion of Rice Midstream Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by net profit (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be covered by net profit (1.3x coverage).
X
Income/ dividend checks
We assess Rice Midstream Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Rice Midstream Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Rice Midstream Partners has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Rice Midstream Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jerry Ashcroft, image provided by Google.
Jerry Ashcroft
AGE 45
TENURE AS CEO 0.3 years
CEO Bio

Mr. Jeremiah J. Ashcroft III, also known as Jerry, has been President and Chief Executive Officer of EQT Midstream Services, LLC since March 15, 2018. Mr. Ashcroft is President and Chief Executive Officer at EQT GP Holdings, LP since March 15, 2018. He has been President and Chief Executive Officer at EQT Midstream Partners LP since March 15, 2018. Mr. Ashcroft has been the President and Chief Executive Officer at Rice Midstream Management LLC, the general partner of Rice Midstream Partners LP since March 15, 2018. He served as Senior Vice President and Chief Operating Officer at Rice Midstream Management LLC, the general partner of Rice Midstream Partners LP since November 2017 until March 2018 also he serves as Director. Mr. Ashcroft has been Senior Vice President and President of Midstream at EQT Corporation since August 7, 2017. Mr. Ashcroft has been Chief Operating Officer and Senior Vice President of EQT Midstream Partners, LP since August 7, 2017. He served as Chief Operating Officer and Senior Vice President of EQT Midstream Services, LLC since August 7, 2017 until March 2018. Mr. Ashcroft served as the Chief Executive Officer and President of GULF OIL L.P. since December 2015 until June 10, 2017. Mr. Ashcroft was a General Partner of Buckeye Partners, L.P. He held executive leadership roles at Buckeye Partners from May 2009 to 2014. Mr. Ashcroft served as Chief Operating Officer and Executive Vice President of JP Energy GP II LLC, General Partner of JP Energy Partners LP since April 2014 until August 29, 2015. Mr. Ashcroft served as President of Buckeye Services Business Unit (Natural Gas Storage, Development & Logistics and Energy Services business units) at Buckeye GP, LLC from January 23, 2012 to April 15, 2014 and served as its Senior Vice President until April 15, 2014. Mr. Ashcroft served as Senior Vice President of Global Operations at Buckeye Partners, L.P. (Buckeye Pipe Line Services Company) since August 2011. From May 2009 to August 2011, he served as Vice President of Field Operations at Buckeye. He worked for Colonial Pipeline Company from 2000 to 2006 in various roles including Mergers, Acquisitions and Strategy Coordinator and Control Center Leader and again from January 2008 to May 2009, first as Chief Compliance Officer and finally as District Leader of Colonial's 2,880-mile southeast region. From November 2006 to January 2007, he served as the General Manager of Leaf River Sawmill at Georgia Pacific Company. He served for five years in the U.S. Marine Corps, where he was a Major and saw overseas duty in five nations. He has more than 15 years of experience in the oil, gas and pipeline industries. He has been Director of EQT Midstream Services, Llc since August 7, 2017. He has been a Director of EQT Corporation since August 07, 2017. Mr. Ashcroft holds a Bachelor of Science from the United States Naval Academy. He holds Master of Business Administration with a concentration in finance from Goizueta Business School, Emory University.

CEO Compensation
  • Insufficient data for Jerry to compare compensation growth.
  • Insufficient data for Jerry to establish whether their compensation is reasonable for a company of this size and profit level.
Management Team Tenure

Average tenure and age of the Rice Midstream Partners management team in years:

0.7
Average Tenure
45
Average Age
  • The average tenure for the Rice Midstream Partners management team is less than 2 years, this suggests a new team.
Management Team

Rob McNally

TITLE
Senior VP
COMPENSATION
$34K
AGE
47
TENURE
0.7 yrs

Jerry Ashcroft

TITLE
President
AGE
45
TENURE
0.3 yrs

Jimmi Smith

TITLE
Chief Accounting Officer of Rice Midstream Management LLC
AGE
45
TENURE
0.7 yrs

Julie Danvers

TITLE
Director of Investor Relations

Tobin Nelson

TITLE
Secretary of Rice Midstream Management LLC

Nate Tetlow

TITLE
Investor Relations Director
Board of Directors Tenure

Average tenure and age of the Rice Midstream Partners board of directors in years:

0.7
Average Tenure
58
Average Age
  • The average tenure for the Rice Midstream Partners board of directors is less than 3 years, this suggests a new board.
Board of Directors

Dave Porges

TITLE
Chairman of Rice Midstream Management LLC
AGE
60
TENURE
0.7 yrs

Rob McNally

TITLE
Senior VP
COMPENSATION
$34K
AGE
47
TENURE
0.7 yrs

Jerry Ashcroft

TITLE
President
AGE
45
TENURE
0.7 yrs

D. Leland

TITLE
Director of Rice Midstream Management LLC
COMPENSATION
$270K
AGE
56
TENURE
3.6 yrs

James Lytal

TITLE
Presiding Director of Rice Midstream Management LLC
COMPENSATION
$270K
AGE
60
TENURE
0.7 yrs

Robert Vagt

TITLE
Director of Rice Midstream Management LLC
AGE
71
TENURE
4.5 yrs

Stephanie Hildebrandt

TITLE
Director of Rice Midstream Management LLC
COMPENSATION
$255K
AGE
53
TENURE
2.3 yrs

Lew Gardner

TITLE
Director of Rice Midstream Management LLC
AGE
61
TENURE
0.7 yrs
Recent Insider Trading
  • No 3 month insider trading information.
Who owns this company?
X
Management checks
We assess Rice Midstream Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap and profit (greater than 0.5% of the company's profit + 0.03% of market cap)? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Rice Midstream Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

External News
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Simply Wall St News

Should You Sell Rice Midstream Partners LP (NYSE:RMP) At This PE Ratio?

But should the relatively competitive multiple be the final verdict of RMP’s undervaluation. … This is because multiples like PE tend to overlook key company-specific factors such as future growth and capital structure … This article will cover some key aspects we should consider in order to determine the best multiple to be used for

Simply Wall St -

These Factors Make Rice Midstream Partners LP (NYSE:RMP) A Great Investment

Building up an investment case requires looking at a stock holistically. … Today I've chosen to put the spotlight on Rice Midstream Partners LP (NYSE:RMP) due to its excellent fundamentals in more than one area.

Simply Wall St -

Should You Buy Rice Midstream Partners LP (NYSE:RMP) For Its Dividend?

Rice Midstream Partners LP (NYSE:RMP) has returned to shareholders over the past 3 years, an average dividend yield of 5.00% annually. … See our latest analysis for Rice Midstream Partners 5 checks you should use to assess a dividend stock Whenever I am looking at a potential dividend stock investment, I always check these five metrics: Is its annual yield among the top 25% of dividend-paying companies? … Relative to peers, Rice Midstream Partners has a yield of 6.37%, which is high for Oil and Gas stocks.Next Steps: With these dividend metrics in mind, I definitely rank Rice Midstream Partners as a strong income stock, and is worth further research for anyone who considers dividends an important part of their portfolio strategy.

Simply Wall St -

Should You Buy Rice Midstream Partners LP (NYSE:RMP) Now?

Rice Midstream Partners LP (NYSE:RMP), an energy company based in United States, saw significant share price volatility over the past couple of months on the NYSE, rising to the highs of $22.51 and falling to the lows of $17.09. … I find that Rice Midstream Partners’s ratio of 10.81x is trading slightly below its industry peers’ ratio of 12.43x, which means if you buy Rice Midstream Partners today, you’d be paying a reasonable price for it. … What kind of growth will Rice Midstream Partners generate?

Simply Wall St -

Is Rice Midstream Partners LP's (NYSE:RMP) ROE Of 13.58% Sustainable?

Check out our latest analysis for Rice Midstream Partners Peeling the layers of ROE – trisecting a company’s profitability Return on Equity (ROE) is a measure of Rice Midstream Partners’s profit relative to its shareholders’ equity. … For now, let’s just look at the cost of equity number for Rice Midstream Partners, which is 8.73%. … Given a positive discrepancy of 4.85% between return and cost, this indicates that Rice Midstream Partners pays less for its capital than what it generates in return, which is a sign of capital efficiency.

Simply Wall St -

Does Rice Midstream Partners LP's (RMP) 17.2% Earnings Growth Make It An Outperformer?

Examining Rice Midstream Partners LP's (NYSE:RMP) past track record of performance is a valuable exercise for investors. … Given that these values may be relatively myopic, I have computed an annualized five-year value for Rice Midstream Partners's earnings, which stands at $52M. … Rice Midstream Partners's track record can be a valuable insight into its earnings performance, but it certainly doesn't tell the whole story.

Simply Wall St -

Company Info

Map
Description

Rice Midstream Partners LP owns, operates, develops, and acquires midstream assets in the Appalachian Basin. It operates in two segments, Gathering and Compression, and Water Services. Its natural gas gathering and compression assets consist of natural gas gathering and compression systems that serve producers in the dry gas core of the Marcellus Shale in southwestern Pennsylvania. The company also provides water services to support well completion activities, as well as to collect and recycle or dispose of flowback and produced water in Washington and Greene counties, Pennsylvania; and Belmont County, Ohio. Rice Midstream Management LLC serves as the general partner of Rice Midstream Partners LP. The company was founded in 2014 and is headquartered in Pittsburgh, Pennsylvania.

Details
Name: Rice Midstream Partners LP
RMP
Exchange: NYSE
Founded: 2014
$1,848,617,161
102,303,108
Website: http://www.ricemidstream.com
Address: Rice Midstream Partners LP
EQT Plaza,
Suite 1700,
Pittsburgh,
Pennsylvania, 15222,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE RMP Common Units New York Stock Exchange US USD 17. Dec 2014
DB RMR Common Units Deutsche Boerse AG DE EUR 17. Dec 2014
Number of employees
Current staff
Staff numbers
0
Rice Midstream Partners employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2018/07/17 22:19
End of day share price update: 2018/07/17 00:00
Last estimates confirmation: 2018/06/12
Last earnings update: 2018/03/31
Last annual earnings update: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.