Infrastructure Capital Advisors LLC grew its stake in BP Midstream Partners LP (NYSE:BPMP) by 2.3% during the second quarter, HoldingsChannel.com reports. The firm owned 1,452,935 shares of the company’s stock after buying an additional 33,340 shares during the period. BP Midstream Partners makes up about 2.6% of Infrastructure Capital Advisors LLC’s holdings, making the stock its 13th biggest holding. Infrastructure Capital Advisors LLC’s holdings in BP Midstream Partners were worth $22,070,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of the company. Bank of Montreal Can increased its position in shares of BP Midstream Partners by 26.4% in the 1st quarter. Bank of Montreal Can now owns 64,632 shares of the company’s stock valued at $935,000 after buying an additional 13,504 shares in the last quarter. Alps Advisors Inc. increased its position in shares of BP Midstream Partners by 20.4% in the 1st quarter. Alps Advisors Inc. now owns 12,543 shares of the company’s stock valued at $181,000 after buying an additional 2,125 shares in the last quarter. Moors & Cabot Inc. increased its position in shares of BP Midstream Partners by 10.6% in the 1st quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock valued at $238,000 after buying an additional 1,600 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of BP Midstream Partners by 108.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 92,500 shares of the company’s stock valued at $1,338,000 after buying an additional 48,100 shares in the last quarter. Finally, American Financial Group Inc. bought a new stake in shares of BP Midstream Partners in the 1st quarter valued at $318,000. 43.90% of the stock is currently owned by institutional investors.
A number of equities analysts have issued reports on the company. Zacks Investment Research upgraded BP Midstream Partners from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a report on Monday, August 12th. Mizuho assumed coverage on BP Midstream Partners in a report on Wednesday, June 5th. They set a “buy” rating and a $19.00 target price for the company. Finally, JPMorgan Chase & Co. cut BP Midstream Partners from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $19.00 to $17.00 in a report on Tuesday, August 20th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.50.
BPMP stock traded down $0.17 during trading hours on Thursday, reaching $14.32. 2,654 shares of the stock were exchanged, compared to its average volume of 271,892. The firm’s 50-day moving average is $14.98 and its 200-day moving average is $15.06. The company has a market cap of $1.50 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 1.01 and a beta of 0.61. The company has a debt-to-equity ratio of 2.14, a current ratio of 9.43 and a quick ratio of 9.43. BP Midstream Partners LP has a 12 month low of $13.80 and a 12 month high of $19.61.
BP Midstream Partners (NYSE:BPMP) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The company had revenue of $28.60 million during the quarter, compared to analysts’ expectations of $31.41 million. BP Midstream Partners had a return on equity of 47.91% and a net margin of 122.39%. BP Midstream Partners’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. As a group, equities research analysts forecast that BP Midstream Partners LP will post 1.44 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a $0.324 dividend. This represents a $1.30 annualized dividend and a dividend yield of 9.05%. The ex-dividend date was 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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