Shares of BP Midstream Partners LP (NYSE:BPMP) have received an average rating of “Hold” from the eleven analysts that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $22.33.
A number of research analysts recently issued reports on BPMP shares. Mitsubishi UFJ Financial Group upgraded BP Midstream Partners from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $25.00 in a report on Friday, August 10th. JPMorgan Chase & Co. decreased their price objective on BP Midstream Partners from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, August 24th. ValuEngine downgraded BP Midstream Partners from a “hold” rating to a “sell” rating in a report on Wednesday, August 29th. Morgan Stanley increased their price objective on BP Midstream Partners from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report on Friday, August 24th. Finally, Zacks Investment Research downgraded BP Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, July 25th.
Hedge funds have recently bought and sold shares of the business. Baldwin Brothers Inc. MA bought a new position in shares of BP Midstream Partners during the 2nd quarter worth approximately $162,000. Moors & Cabot Inc. bought a new position in shares of BP Midstream Partners during the 1st quarter worth approximately $209,000. Commonwealth Equity Services LLC bought a new position in shares of BP Midstream Partners during the 2nd quarter worth approximately $236,000. Heronetta Management L.P. bought a new position in shares of BP Midstream Partners during the 2nd quarter worth approximately $273,000. Finally, Bank of America Corp DE boosted its stake in shares of BP Midstream Partners by 54.1% during the 2nd quarter. Bank of America Corp DE now owns 13,070 shares of the company’s stock worth $274,000 after acquiring an additional 4,589 shares during the period. Hedge funds and other institutional investors own 51.26% of the company’s stock.
Shares of NYSE BPMP traded down $0.52 during mid-day trading on Friday, reaching $18.48. 3,750 shares of the company’s stock were exchanged, compared to its average volume of 149,593. The firm has a market cap of $1.95 billion and a P/E ratio of 88.10. BP Midstream Partners has a twelve month low of $16.83 and a twelve month high of $23.00.
BP Midstream Partners (NYSE:BPMP) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The business had revenue of $28.94 million during the quarter, compared to the consensus estimate of $27.40 million. BP Midstream Partners had a return on equity of 20.65% and a net margin of 85.62%. BP Midstream Partners’s revenue was up 7.6% on a year-over-year basis. analysts anticipate that BP Midstream Partners will post 1.22 EPS for the current fiscal year.
BP Midstream Partners Company Profile
BP Midstream Partners LP owns, acquires, operates, and develops pipelines and other midstream assets. It owns an onshore crude oil pipeline system, onshore refined products pipeline system, onshore diluent pipeline system, and offshore natural gas pipeline system, as well as interests in four offshore crude oil pipeline systems located in the United States.
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