BP Midstream Partners LP (BPMP) Receives Consensus Recommendation of “Hold” from Analysts

BP Midstream Partners LP (NYSE:BPMP) has been given a consensus rating of “Hold” by the eleven analysts that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $22.33.

A number of analysts recently issued reports on BPMP shares. Zacks Investment Research raised BP Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Monday, August 13th. Morgan Stanley upped their target price on BP Midstream Partners from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, August 24th. Mitsubishi UFJ Financial Group raised BP Midstream Partners from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $23.00 to $25.00 in a research report on Friday, August 10th. UBS Group increased their price objective on BP Midstream Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, ValuEngine cut BP Midstream Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, August 29th.

Shares of NYSE BPMP traded down $0.13 during trading hours on Friday, reaching $18.92. The stock had a trading volume of 105,933 shares, compared to its average volume of 108,283. The stock has a market cap of $2.01 billion and a PE ratio of 90.10. BP Midstream Partners has a fifty-two week low of $16.83 and a fifty-two week high of $23.00.

BP Midstream Partners (NYSE:BPMP) last announced its earnings results on Thursday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.03. The firm had revenue of $28.94 million during the quarter, compared to analysts’ expectations of $27.40 million. BP Midstream Partners had a return on equity of 20.65% and a net margin of 85.62%. BP Midstream Partners’s revenue for the quarter was up 7.6% on a year-over-year basis. research analysts forecast that BP Midstream Partners will post 1.22 EPS for the current year.

A number of institutional investors have recently bought and sold shares of the business. Baldwin Brothers Inc. MA purchased a new position in shares of BP Midstream Partners during the 2nd quarter worth approximately $162,000. Commonwealth Equity Services LLC purchased a new position in shares of BP Midstream Partners during the 2nd quarter worth approximately $236,000. Moors & Cabot Inc. purchased a new position in shares of BP Midstream Partners during the 1st quarter worth approximately $209,000. Heronetta Management L.P. purchased a new position in shares of BP Midstream Partners during the 2nd quarter worth approximately $273,000. Finally, Bank of America Corp DE raised its stake in shares of BP Midstream Partners by 54.1% during 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. 51.26% of the stock is owned by institutional investors.

BP Midstream Partners Company Profile

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.

Further Reading: What are the Benefits of Index Funds?

Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

Receive News & Ratings for BP Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply