Infrastructure Capital Advisors LLC acquired a new stake in BP Midstream Partners LP (NYSE:BPMP) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 163,936 shares of the company’s stock, valued at approximately $2,925,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BPMP. US Bancorp DE acquired a new position in BP Midstream Partners in the fourth quarter valued at $136,000. Keybank National Association OH acquired a new position in BP Midstream Partners in the fourth quarter valued at $248,000. Signaturefd LLC acquired a new position in BP Midstream Partners in the fourth quarter valued at $257,000. Oppenheimer Asset Management Inc. acquired a new position in BP Midstream Partners in the first quarter valued at $373,000. Finally, Jefferies Group LLC acquired a new position in BP Midstream Partners in the fourth quarter valued at $411,000. Institutional investors own 46.80% of the company’s stock.
Shares of NYSE:BPMP opened at $21.80 on Thursday. BP Midstream Partners LP has a one year low of $16.83 and a one year high of $23.00. The stock has a market capitalization of $2.29 billion and a PE ratio of 103.81.
BP Midstream Partners (NYSE:BPMP) last announced its earnings results on Thursday, May 10th. The company reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The business had revenue of $26.60 million during the quarter, compared to analysts’ expectations of $26.92 million. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. sell-side analysts anticipate that BP Midstream Partners LP will post 1.25 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 15th. Stockholders of record on Tuesday, May 1st were issued a $0.268 dividend. The ex-dividend date was Monday, April 30th. This represents a $1.07 dividend on an annualized basis and a dividend yield of 4.92%. BP Midstream Partners’s payout ratio is 509.52%.
Several research firms have issued reports on BPMP. Zacks Investment Research upgraded shares of BP Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, May 23rd. Barclays upped their price objective on shares of BP Midstream Partners from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 11th. Citigroup decreased their price objective on shares of BP Midstream Partners from $21.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, March 28th. ValuEngine downgraded shares of BP Midstream Partners from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. Finally, UBS Group upped their price objective on shares of BP Midstream Partners from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $21.44.
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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