BP Midstream Partners LP (BPMP) Receives Average Rating of “Hold” from Analysts

Shares of BP Midstream Partners LP (NYSE:BPMP) have received an average rating of “Hold” from the eleven brokerages that are presently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell recommendation, three have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $21.14.

BPMP has been the subject of several research analyst reports. Zacks Investment Research upgraded shares of BP Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Tuesday, January 1st. Credit Suisse Group cut their target price on shares of BP Midstream Partners from $17.00 to $15.00 and set an “underperform” rating for the company in a research note on Friday, March 8th.

In other BP Midstream Partners news, insider Craig Coburn purchased 2,000 shares of the stock in a transaction on Monday, March 18th. The shares were purchased at an average price of $14.75 per share, with a total value of $29,500.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional investors have recently made changes to their positions in the business. Lindbrook Capital LLC grew its holdings in shares of BP Midstream Partners by 138.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,810 shares of the company’s stock worth $26,000 after purchasing an additional 1,050 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of BP Midstream Partners in the 4th quarter worth about $162,000. Barclays PLC bought a new stake in shares of BP Midstream Partners in the 4th quarter worth about $164,000. Stockman Wealth Management Inc. bought a new stake in shares of BP Midstream Partners in the 4th quarter worth about $171,000. Finally, Keybank National Association OH grew its holdings in shares of BP Midstream Partners by 17.1% in the 4th quarter. Keybank National Association OH now owns 14,485 shares of the company’s stock worth $225,000 after purchasing an additional 2,110 shares during the last quarter. 47.88% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:BPMP opened at $14.52 on Monday. The firm has a market cap of $1.52 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.04 and a beta of 0.62. BP Midstream Partners has a one year low of $14.13 and a one year high of $22.98. The company has a quick ratio of 6.50, a current ratio of 6.50 and a debt-to-equity ratio of 2.22.

BP Midstream Partners (NYSE:BPMP) last released its earnings results on Thursday, February 28th. The company reported $0.35 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $28.81 million during the quarter, compared to analysts’ expectations of $37.00 million. BP Midstream Partners had a net margin of 114.27% and a return on equity of 27.07%. As a group, analysts forecast that BP Midstream Partners will post 1.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st will be issued a $0.313 dividend. This represents a $1.25 annualized dividend and a yield of 8.62%. The ex-dividend date is Tuesday, April 30th. This is a positive change from BP Midstream Partners’s previous quarterly dividend of $0.30. BP Midstream Partners’s payout ratio is 95.28%.

BP Midstream Partners Company Profile

BP Midstream Partners LP owns, acquires, develops, and operates pipelines and other midstream assets in the United States. It owns an onshore crude oil pipeline system, onshore refined products pipeline system, onshore diluent pipeline system, refined product terminalling system, and offshore natural gas pipeline system, as well as interests in five offshore crude oil pipeline systems.

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Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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