BP Midstream Partners LP (NYSE:BPMP) declared a quarterly dividend on Thursday, October 15th, Zacks reports. Investors of record on Thursday, October 29th will be given a dividend of 0.347 per share on Thursday, November 12th. This represents a $1.39 dividend on an annualized basis and a yield of 13.88%. The ex-dividend date is Wednesday, October 28th.
BP Midstream Partners has a dividend payout ratio of 90.8% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect BP Midstream Partners to earn $1.50 per share next year, which means the company should continue to be able to cover its $1.39 annual dividend with an expected future payout ratio of 92.7%.
Shares of BPMP opened at $10.00 on Friday. The business’s 50-day moving average is $10.44 and its two-hundred day moving average is $11.01. The company has a market capitalization of $1.05 billion, a P/E ratio of 6.06, a P/E/G ratio of 0.66 and a beta of 1.31. BP Midstream Partners has a fifty-two week low of $6.41 and a fifty-two week high of $17.08. The company has a debt-to-equity ratio of 1.90, a quick ratio of 14.82 and a current ratio of 14.82.
Several research firms have recently weighed in on BPMP. JPMorgan Chase & Co. raised shares of BP Midstream Partners from an “underweight” rating to a “neutral” rating and lifted their target price for the company from $13.00 to $14.00 in a report on Thursday, August 27th. Morgan Stanley began coverage on shares of BP Midstream Partners in a report on Friday, September 25th. They issued an “equal weight” rating and a $11.00 price objective for the company. Zacks Investment Research raised shares of BP Midstream Partners from a “sell” rating to a “hold” rating in a research note on Tuesday, September 1st. Finally, Barclays upgraded BP Midstream Partners from an “equal weight” rating to an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $12.70.
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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