Rice Energy Gets a Buy Rating from Scotiabank

By Carrie Williams

In a report released today, Holly Stewart from Scotiabank maintained a Buy rating on Rice Energy (NYSE: RICE), with a price target of $29. The company’s shares opened today at $24.57.

According to TipRanks.com, Stewart is ranked 0 out of 5 stars with an average return of -13.7% and a 25.5% success rate. Stewart covers the Basic Materials sector, focusing on stocks such as National Fuel Gas Company, Antero Midstream Partners, and Rice Midstream Partners.

Currently, the analyst consensus on Rice Energy is Strong Buy and the average price target is $29, representing a 18.0% upside.

In a report issued on June 16, Mizuho Securities also maintained a Buy rating on the stock with a $34 price target.

Based on Rice Energy’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $394 million and GAAP net loss of $34.63 million. In comparison, last year the company earned revenue of $140 million and had a GAAP net loss of $21.05 million.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Rice Energy, Inc. engages in the acquisition, exploration, and development of natural gas and natural gas liquid (NGL) properties in the Appalachian Basin. It operates through the Exploration and Production and Midstream segments. The Exploration and Production segment involves in the acquisition, exploration and development of natural gas, oil and NGLs. The Midstream segment offers gathering and compression of natural gas, oil, and NGL production of, and in the provision of water services. The company was founded on October 1, 2013 and is headquartered in Canonsburg, PA.