$0.30 Earnings Per Share Expected for BP Midstream Partners LP (BPMP) This Quarter

Analysts predict that BP Midstream Partners LP (NYSE:BPMP) will report earnings of $0.30 per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for BP Midstream Partners’ earnings. The lowest EPS estimate is $0.29 and the highest is $0.32. The business is expected to issue its next earnings results before the market opens on Wednesday, November 14th.

On average, analysts expect that BP Midstream Partners will report full-year earnings of $1.21 per share for the current year, with EPS estimates ranging from $1.19 to $1.23. For the next financial year, analysts forecast that the business will report earnings of $1.50 per share, with EPS estimates ranging from $1.39 to $1.60. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research firms that cover BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last announced its quarterly earnings data on Thursday, August 9th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. The firm had revenue of $28.94 million during the quarter, compared to analyst estimates of $27.40 million. BP Midstream Partners had a net margin of 85.62% and a return on equity of 20.65%. The firm’s revenue was up 7.6% on a year-over-year basis.

BPMP has been the subject of a number of recent analyst reports. Credit Suisse Group initiated coverage on shares of BP Midstream Partners in a report on Thursday, October 11th. They set an “underperform” rating and a $18.00 price target for the company. ValuEngine upgraded shares of BP Midstream Partners from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Zacks Investment Research lowered shares of BP Midstream Partners from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Bank of America lowered their price target on shares of BP Midstream Partners from $22.00 to $21.00 and set a “neutral” rating for the company in a report on Friday, October 5th. Finally, Barclays lowered their price target on shares of BP Midstream Partners from $22.00 to $21.00 and set an “equal weight” rating for the company in a report on Friday, October 12th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.00.

Shares of BPMP traded down $0.08 during mid-day trading on Friday, reaching $18.53. The company’s stock had a trading volume of 6,117 shares, compared to its average volume of 201,816. The firm has a market cap of $1.97 billion and a price-to-earnings ratio of 91.29. BP Midstream Partners has a 52 week low of $16.83 and a 52 week high of $23.00.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st will be given a dividend of $0.292 per share. This is an increase from BP Midstream Partners’s previous quarterly dividend of $0.27. This represents a $1.17 dividend on an annualized basis and a yield of 6.30%. The ex-dividend date is Wednesday, October 31st. BP Midstream Partners’s payout ratio is presently 519.05%.

A number of institutional investors have recently modified their holdings of BPMP. BlackRock Inc. grew its position in shares of BP Midstream Partners by 0.6% in the 1st quarter. BlackRock Inc. now owns 754,632 shares of the company’s stock worth $13,463,000 after buying an additional 4,632 shares during the period. JPMorgan Chase & Co. grew its position in shares of BP Midstream Partners by 50.8% in the 1st quarter. JPMorgan Chase & Co. now owns 82,074 shares of the company’s stock worth $1,464,000 after buying an additional 27,643 shares during the period. Stifel Financial Corp grew its position in shares of BP Midstream Partners by 13.4% in the 1st quarter. Stifel Financial Corp now owns 75,260 shares of the company’s stock worth $1,341,000 after buying an additional 8,898 shares during the period. Mariner LLC purchased a new stake in shares of BP Midstream Partners in the 1st quarter worth about $561,000. Finally, Moors & Cabot Inc. purchased a new stake in shares of BP Midstream Partners in the 1st quarter worth about $209,000. 51.26% of the stock is currently owned by institutional investors and hedge funds.

About BP Midstream Partners

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.

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