BPMP has been the subject of a number of other research reports. Zacks Investment Research lowered shares of BP Midstream Partners from a buy rating to a hold rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. lowered shares of BP Midstream Partners from an overweight rating to a neutral rating and decreased their price target for the company from $19.00 to $17.00 in a research note on Tuesday, August 20th. Four analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $18.14.
Shares of BPMP stock opened at $14.50 on Monday. The firm has a market capitalization of $1.54 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.01 and a beta of 0.61. The firm has a fifty day simple moving average of $14.70 and a two-hundred day simple moving average of $14.94. The company has a current ratio of 9.43, a quick ratio of 9.43 and a debt-to-equity ratio of 2.14. BP Midstream Partners has a 12 month low of $13.80 and a 12 month high of $17.76.
BP Midstream Partners (NYSE:BPMP) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.34 by $0.02. The business had revenue of $28.60 million during the quarter, compared to analyst estimates of $31.41 million. BP Midstream Partners had a net margin of 122.39% and a return on equity of 47.91%. BP Midstream Partners’s quarterly revenue was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.29 EPS. On average, equities analysts predict that BP Midstream Partners will post 1.43 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Thursday, October 31st will be issued a dividend of $0.336 per share. This represents a $1.34 dividend on an annualized basis and a yield of 9.27%. This is an increase from BP Midstream Partners’s previous quarterly dividend of $0.32. The ex-dividend date is Wednesday, October 30th. BP Midstream Partners’s payout ratio is currently 105.51%.
A number of institutional investors and hedge funds have recently bought and sold shares of BPMP. Brookfield Asset Management Inc. purchased a new position in BP Midstream Partners during the 2nd quarter worth $26,836,000. Kayne Anderson Capital Advisors LP boosted its holdings in BP Midstream Partners by 21.9% during the 3rd quarter. Kayne Anderson Capital Advisors LP now owns 8,398,412 shares of the company’s stock worth $122,610,000 after acquiring an additional 1,509,700 shares during the last quarter. Tortoise Capital Advisors L.L.C. boosted its holdings in BP Midstream Partners by 7.0% during the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 6,595,026 shares of the company’s stock worth $102,091,000 after acquiring an additional 430,145 shares during the last quarter. Cohen & Steers Inc. boosted its holdings in BP Midstream Partners by 244.5% during the 2nd quarter. Cohen & Steers Inc. now owns 594,636 shares of the company’s stock worth $9,205,000 after acquiring an additional 422,031 shares during the last quarter. Finally, Eagle Global Advisors LLC boosted its holdings in BP Midstream Partners by 31.3% during the 2nd quarter. Eagle Global Advisors LLC now owns 1,299,160 shares of the company’s stock worth $20,111,000 after acquiring an additional 310,038 shares during the last quarter. 43.11% of the stock is currently owned by hedge funds and other institutional investors.
About BP Midstream Partners
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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