BP Midstream Partners LP (NYSE:BPMP) Expected to Post Earnings of $0.36 Per Share

Equities analysts predict that BP Midstream Partners LP (NYSE:BPMP) will announce earnings of $0.36 per share for the current quarter, according to Zacks Investment Research. Zero analysts have issued estimates for BP Midstream Partners’ earnings. The lowest EPS estimate is $0.32 and the highest is $0.39. BP Midstream Partners reported earnings per share of $0.39 in the same quarter last year, which suggests a negative year-over-year growth rate of 7.7%. The company is expected to report its next quarterly earnings report on Friday, May 14th.

On average, analysts expect that BP Midstream Partners will report full-year earnings of $1.48 per share for the current fiscal year, with EPS estimates ranging from $1.33 to $1.56. For the next year, analysts expect that the company will report earnings of $1.59 per share, with EPS estimates ranging from $1.47 to $1.70. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last released its quarterly earnings data on Thursday, February 25th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.01). BP Midstream Partners had a return on equity of 71.35% and a net margin of 133.81%. The business had revenue of $33.00 million during the quarter, compared to analyst estimates of $33.93 million.

Several brokerages have recently weighed in on BPMP. Mizuho upped their target price on shares of BP Midstream Partners from $14.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, January 20th. Zacks Investment Research downgraded shares of BP Midstream Partners from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 23rd. Barclays downgraded shares of BP Midstream Partners from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $12.00 to $13.00 in a research note on Wednesday, January 20th. Finally, Morgan Stanley increased their price objective on shares of BP Midstream Partners from $13.00 to $14.00 and gave the company an “equal weight” rating in a research note on Monday, March 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $13.42.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Morgan Stanley lifted its position in shares of BP Midstream Partners by 9.6% in the 4th quarter. Morgan Stanley now owns 3,781,235 shares of the company’s stock worth $40,081,000 after buying an additional 332,657 shares during the last quarter. Infrastructure Capital Advisors LLC lifted its position in shares of BP Midstream Partners by 15.3% in the 4th quarter. Infrastructure Capital Advisors LLC now owns 1,278,077 shares of the company’s stock worth $13,548,000 after buying an additional 169,294 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of BP Midstream Partners by 7.6% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 187,500 shares of the company’s stock worth $1,988,000 after buying an additional 13,300 shares during the last quarter. Citigroup Inc. lifted its position in shares of BP Midstream Partners by 6.9% in the 4th quarter. Citigroup Inc. now owns 2,308,304 shares of the company’s stock worth $24,468,000 after buying an additional 148,463 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of BP Midstream Partners in the 4th quarter worth about $127,000. Hedge funds and other institutional investors own 38.64% of the company’s stock.

Shares of BPMP stock traded down $0.02 on Friday, hitting $12.76. The stock had a trading volume of 3,655 shares, compared to its average volume of 455,387. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.84 and a beta of 1.30. The stock’s 50 day moving average is $12.38 and its 200-day moving average is $11.29. The company has a debt-to-equity ratio of 1.85, a quick ratio of 15.46 and a current ratio of 15.46. BP Midstream Partners has a 52-week low of $8.65 and a 52-week high of $13.62.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 11th. Shareholders of record on Thursday, January 28th were paid a dividend of $0.3475 per share. The ex-dividend date of this dividend was Wednesday, January 27th. This represents a $1.39 dividend on an annualized basis and a yield of 10.89%. BP Midstream Partners’s dividend payout ratio (DPR) is 87.97%.

About BP Midstream Partners

BP Midstream Partners LP owns, acquires, develops, and operates pipelines and other midstream assets in the United States. Its assets consist of interests in entities that own crude oil, natural gas, refined products, and diluent pipelines as well as refined product terminals. BP Midstream Partners GP LLC serves as a general partner of BP Midstream Partners LP.

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