Analysts Anticipate BP Midstream Partners LP (NYSE:BPMP) Will Announce Quarterly Sales of $32.88 Million

Equities analysts expect that BP Midstream Partners LP (NYSE:BPMP) will report $32.88 million in sales for the current quarter, according to Zacks. Two analysts have issued estimates for BP Midstream Partners’ earnings, with estimates ranging from $32.76 million to $33.00 million. BP Midstream Partners reported sales of $32.07 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.5%. The business is scheduled to announce its next quarterly earnings results on Wednesday, November 13th.

According to Zacks, analysts expect that BP Midstream Partners will report full-year sales of $125.77 million for the current fiscal year, with estimates ranging from $125.00 million to $126.54 million. For the next financial year, analysts anticipate that the firm will report sales of $154.26 million, with estimates ranging from $132.51 million to $176.00 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last released its earnings results on Thursday, August 8th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.02. BP Midstream Partners had a return on equity of 43.69% and a net margin of 122.39%. The business had revenue of $28.60 million for the quarter, compared to the consensus estimate of $31.41 million. During the same period last year, the business earned $0.29 earnings per share. The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year.



A number of research firms recently weighed in on BPMP. Zacks Investment Research raised BP Midstream Partners from a “hold” rating to a “buy” rating and set a $17.00 target price on the stock in a research report on Monday. Mizuho initiated coverage on BP Midstream Partners in a report on Wednesday, June 5th. They set a “buy” rating and a $19.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. BP Midstream Partners has a consensus rating of “Hold” and a consensus target price of $19.38.

Several large investors have recently bought and sold shares of the company. Lindbrook Capital LLC raised its position in BP Midstream Partners by 138.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,810 shares of the company’s stock worth $26,000 after purchasing an additional 1,050 shares during the last quarter. Icon Wealth Partners LLC bought a new position in BP Midstream Partners in the 1st quarter worth approximately $39,000. Alps Advisors Inc. raised its position in BP Midstream Partners by 20.4% in the 1st quarter. Alps Advisors Inc. now owns 12,543 shares of the company’s stock worth $181,000 after purchasing an additional 2,125 shares during the last quarter. Moors & Cabot Inc. raised its position in BP Midstream Partners by 10.6% in the 1st quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock worth $238,000 after purchasing an additional 1,600 shares during the last quarter. Finally, BNP Paribas Arbitrage SA raised its position in BP Midstream Partners by 188.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,378 shares of the company’s stock worth $254,000 after purchasing an additional 10,693 shares during the last quarter. Institutional investors own 46.03% of the company’s stock.

BPMP stock traded up $0.17 during trading on Friday, reaching $14.31. 1,050,202 shares of the stock were exchanged, compared to its average volume of 268,951. BP Midstream Partners has a twelve month low of $13.80 and a twelve month high of $21.06. The firm has a market capitalization of $1.57 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.04 and a beta of 0.57. The business’s 50 day simple moving average is $15.62. The company has a debt-to-equity ratio of 2.17, a current ratio of 13.47 and a quick ratio of 13.47.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were paid a $0.324 dividend. This represents a $1.30 dividend on an annualized basis and a dividend yield of 9.06%. The ex-dividend date was Tuesday, July 30th. BP Midstream Partners’s dividend payout ratio (DPR) is currently 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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Earnings History and Estimates for BP Midstream Partners (NYSE:BPMP)

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