BP Midstream Partners (NYSE:BPMP) Lifted to Hold at ValuEngine

ValuEngine upgraded shares of BP Midstream Partners (NYSE:BPMP) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, ValuEngine reports.

Other equities analysts also recently issued reports about the company. Zacks Investment Research upgraded 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, August 12th. Mizuho began coverage on BP Midstream Partners in a research report on Wednesday, June 5th. They set a buy rating and a $19.00 target price on the stock. Finally, JPMorgan Chase & Co. downgraded BP Midstream Partners from an overweight rating to a neutral rating and lowered their target price for the company from $19.00 to $17.00 in a research report on Tuesday, August 20th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $18.50.

Shares of BPMP stock traded up $0.05 on Wednesday, reaching $14.54. The stock had a trading volume of 54,542 shares, compared to its average volume of 265,566. The stock has a market cap of $1.52 billion, a P/E ratio of 11.45, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60. BP Midstream Partners has a 1 year low of $13.80 and a 1 year high of $19.43. The company has a debt-to-equity ratio of 2.14, a quick ratio of 9.43 and a current ratio of 9.43. The company has a 50 day simple moving average of $14.67 and a 200 day simple moving average of $14.98.

BP Midstream Partners (NYSE:BPMP) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. The firm had revenue of $28.60 million for the quarter, compared to the consensus estimate of $31.41 million. BP Midstream Partners had a return on equity of 47.91% and a net margin of 122.39%. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same period last year, the business posted $0.29 EPS. On average, equities research analysts anticipate that BP Midstream Partners will post 1.44 earnings per share for the current fiscal year.

Several institutional investors have recently made changes to their positions in the company. Kayne Anderson Capital Advisors LP lifted its position in shares of BP Midstream Partners by 17.5% in the second quarter. Kayne Anderson Capital Advisors LP now owns 6,888,712 shares of the company’s stock valued at $106,630,000 after acquiring an additional 1,027,500 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its position in shares of BP Midstream Partners by 7.0% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 6,595,026 shares of the company’s stock valued at $102,091,000 after acquiring an additional 430,145 shares in the last quarter. Brookfield Asset Management Inc. purchased a new position in shares of BP Midstream Partners in the second quarter valued at about $26,836,000. Infrastructure Capital Advisors LLC lifted its position in shares of BP Midstream Partners by 2.3% in the second quarter. Infrastructure Capital Advisors LLC now owns 1,452,935 shares of the company’s stock valued at $22,070,000 after acquiring an additional 33,340 shares in the last quarter. Finally, Eagle Global Advisors LLC lifted its position in shares of BP Midstream Partners by 31.3% in the second quarter. Eagle Global Advisors LLC now owns 1,299,160 shares of the company’s stock valued at $20,111,000 after acquiring an additional 310,038 shares in the last quarter. Institutional investors and hedge funds own 43.86% of the company’s stock.

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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Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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