Shares of BP Midstream Partners LP (NYSE:BPMP) have been given a consensus rating of “Hold” by the twelve brokerages that are presently covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $20.88.
Several research firms recently commented on BPMP. Mizuho began coverage on shares of BP Midstream Partners in a report on Wednesday, June 5th. They issued a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research downgraded shares of BP Midstream Partners from a “buy” rating to a “hold” rating in a report on Wednesday, May 8th.
A number of large investors have recently made changes to their positions in the business. Kayne Anderson Capital Advisors LP boosted its holdings in BP Midstream Partners by 17.5% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 6,888,712 shares of the company’s stock valued at $106,630,000 after purchasing an additional 1,027,500 shares during the period. Eagle Global Advisors LLC boosted its holdings in BP Midstream Partners by 17.0% in the 1st quarter. Eagle Global Advisors LLC now owns 989,122 shares of the company’s stock valued at $14,313,000 after purchasing an additional 143,772 shares during the period. BlackRock Inc. boosted its holdings in BP Midstream Partners by 1.2% in the 4th quarter. BlackRock Inc. now owns 626,142 shares of the company’s stock valued at $9,730,000 after purchasing an additional 7,602 shares during the period. Northeast Financial Consultants Inc boosted its holdings in BP Midstream Partners by 334.2% in the 1st quarter. Northeast Financial Consultants Inc now owns 212,781 shares of the company’s stock valued at $3,079,000 after purchasing an additional 163,781 shares during the period. Finally, Heronetta Management L.P. boosted its holdings in BP Midstream Partners by 13.1% in the 1st quarter. Heronetta Management L.P. now owns 99,600 shares of the company’s stock valued at $1,441,000 after purchasing an additional 11,500 shares during the period. 46.20% of the stock is owned by hedge funds and other institutional investors.
BP Midstream Partners (NYSE:BPMP) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.01. The company had revenue of $30.20 million during the quarter, compared to the consensus estimate of $31.02 million. BP Midstream Partners had a net margin of 116.33% and a return on equity of 34.99%. BP Midstream Partners’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm earned $0.29 EPS. As a group, equities analysts anticipate that BP Midstream Partners will post 1.39 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a $0.324 dividend. This represents a $1.30 annualized dividend and a yield of 8.80%. The ex-dividend date of this dividend is Tuesday, July 30th. BP Midstream Partners’s payout ratio is 101.57%.
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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