Zacks: Brokerages Expect BP Midstream Partners LP (BPMP) Will Post Earnings of $0.34 Per Share

Brokerages expect BP Midstream Partners LP (NYSE:BPMP) to post $0.34 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for BP Midstream Partners’ earnings. The highest EPS estimate is $0.37 and the lowest is $0.31. BP Midstream Partners reported earnings per share of $0.29 in the same quarter last year, which suggests a positive year-over-year growth rate of 17.2%. The company is expected to issue its next quarterly earnings results on Thursday, May 9th.

According to Zacks, analysts expect that BP Midstream Partners will report full-year earnings of $1.40 per share for the current financial year, with EPS estimates ranging from $1.31 to $1.52. For the next fiscal year, analysts expect that the business will report earnings of $1.44 per share, with EPS estimates ranging from $1.40 to $1.48. Zacks’ EPS averages are an average based on a survey of research analysts that that provide coverage for BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last announced its quarterly earnings results on Thursday, February 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). BP Midstream Partners had a net margin of 114.27% and a return on equity of 27.07%.



Several analysts have commented on BPMP shares. Bank of America cut BP Midstream Partners from a “neutral” rating to an “underperform” rating in a report on Monday, December 10th. Zacks Investment Research upgraded BP Midstream Partners from a “strong sell” rating to a “hold” rating in a research note on Friday, March 15th. Morgan Stanley lowered their price objective on BP Midstream Partners from $23.00 to $22.00 and set an “equal weight” rating for the company in a research note on Friday, November 30th. TheStreet downgraded BP Midstream Partners from a “c-” rating to a “d+” rating in a research note on Friday, December 28th. Finally, Citigroup lowered their price objective on BP Midstream Partners from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Thursday, November 29th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.56.

In other news, insider Craig Coburn bought 2,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were bought at an average cost of $14.75 per share, with a total value of $29,500.00. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Several hedge funds and other institutional investors have recently modified their holdings of BPMP. Alps Advisors Inc. acquired a new position in BP Midstream Partners during the fourth quarter worth approximately $162,000. Barclays PLC purchased a new position in shares of BP Midstream Partners in the 4th quarter worth $164,000. Stockman Wealth Management Inc. purchased a new position in shares of BP Midstream Partners in the 4th quarter worth $171,000. Bank of America Corp DE grew its stake in shares of BP Midstream Partners by 54.1% in the 2nd quarter. Bank of America Corp DE now owns 13,070 shares of the company’s stock worth $274,000 after buying an additional 4,589 shares in the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in shares of BP Midstream Partners in the 3rd quarter worth $263,000. 47.72% of the stock is currently owned by institutional investors and hedge funds.

NYSE BPMP traded down $0.36 during trading hours on Friday, reaching $14.48. The company had a trading volume of 143,609 shares, compared to its average volume of 312,808. BP Midstream Partners has a 1-year low of $14.26 and a 1-year high of $22.98. The company has a debt-to-equity ratio of 2.22, a current ratio of 6.50 and a quick ratio of 6.50. The stock has a market capitalization of $1.52 billion, a P/E ratio of 11.40, a PEG ratio of 1.04 and a beta of 0.67.

About BP Midstream Partners

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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