BP Midstream Partners GP (BPMP) Price Target Lowered to $19.00 at Barclays

BP Midstream Partners GP (NYSE:BPMP) had its target price decreased by Barclays from $20.00 to $19.00 in a research note issued to investors on Tuesday. The brokerage presently has an “equal weight” rating on the stock. Barclays’ target price indicates a potential upside of 2.04% from the stock’s current price.

A number of other equities analysts also recently weighed in on BPMP. Citigroup dropped their target price on shares of BP Midstream Partners GP from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 28th. Zacks Investment Research downgraded shares of BP Midstream Partners GP from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. ValuEngine downgraded shares of BP Midstream Partners GP from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. Credit Suisse Group assumed coverage on shares of BP Midstream Partners GP in a research note on Thursday, January 4th. They issued a “neutral” rating and a $19.00 target price for the company. Finally, Bank of America assumed coverage on shares of BP Midstream Partners GP in a research note on Friday, January 12th. They issued a “neutral” rating and a $22.00 target price for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.75.

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NYSE BPMP traded up $0.44 during midday trading on Tuesday, hitting $18.62. The company had a trading volume of 134,361 shares, compared to its average volume of 179,589. The firm has a market capitalization of $1,811.13 and a price-to-earnings ratio of 89.10. BP Midstream Partners GP has a fifty-two week low of $16.83 and a fifty-two week high of $23.00.

BP Midstream Partners GP (NYSE:BPMP) last posted its quarterly earnings results on Thursday, March 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.07). The business had revenue of $27.61 million for the quarter, compared to the consensus estimate of $27.23 million. The company’s revenue for the quarter was up 28.6% compared to the same quarter last year. sell-side analysts forecast that BP Midstream Partners GP will post 1.14 earnings per share for the current year.

Large investors have recently modified their holdings of the company. US Bancorp DE acquired a new position in BP Midstream Partners GP during the fourth quarter valued at approximately $136,000. Keybank National Association OH acquired a new position in BP Midstream Partners GP during the fourth quarter valued at approximately $248,000. Diversified Trust Co acquired a new position in BP Midstream Partners GP during the fourth quarter valued at approximately $253,000. Signaturefd LLC acquired a new position in BP Midstream Partners GP during the fourth quarter valued at approximately $257,000. Finally, Jefferies Group LLC acquired a new position in BP Midstream Partners GP during the fourth quarter valued at approximately $411,000. Institutional investors own 49.71% of the company’s stock.

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About BP Midstream Partners GP

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.

Analyst Recommendations for BP Midstream Partners GP (NYSE:BPMP)

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