Brokerages Expect BP Midstream Partners LP (NYSE:BPMP) Will Post Quarterly Sales of $32.88 Million

Wall Street brokerages expect BP Midstream Partners LP (NYSE:BPMP) to post $32.88 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for BP Midstream Partners’ earnings. The highest sales estimate is $33.00 million and the lowest is $32.76 million. BP Midstream Partners posted sales of $32.07 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 2.5%. The firm is expected to report its next earnings results on Wednesday, November 13th.

On average, analysts expect that BP Midstream Partners will report full year sales of $125.77 million for the current financial year, with estimates ranging from $125.00 million to $126.54 million. For the next financial year, analysts anticipate that the business will post sales of $154.26 million, with estimates ranging from $132.51 million to $176.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The business had revenue of $28.60 million for the quarter, compared to analyst estimates of $31.41 million. BP Midstream Partners had a net margin of 122.39% and a return on equity of 47.91%. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter last year, the business posted $0.29 EPS.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of BP Midstream Partners from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Monday, August 12th. Mizuho assumed coverage on shares of BP Midstream Partners in a research report on Wednesday, June 5th. They set a “buy” rating and a $19.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $19.38.

Shares of NYSE BPMP traded up $0.37 during trading hours on Friday, hitting $14.68. 160,300 shares of the stock were exchanged, compared to its average volume of 271,250. The company has a debt-to-equity ratio of 2.14, a quick ratio of 13.47 and a current ratio of 9.43. The company has a market cap of $1.48 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of 0.98 and a beta of 0.57. The company’s fifty day simple moving average is $15.58 and its two-hundred day simple moving average is $15.24. BP Midstream Partners has a 1-year low of $13.80 and a 1-year high of $21.06.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st were given a $0.324 dividend. The ex-dividend date of this dividend was Tuesday, July 30th. This represents a $1.30 dividend on an annualized basis and a yield of 8.83%. BP Midstream Partners’s dividend payout ratio is currently 101.57%.

Institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its position in shares of BP Midstream Partners by 1.2% in the fourth quarter. BlackRock Inc. now owns 626,142 shares of the company’s stock worth $9,730,000 after buying an additional 7,602 shares during the period. Northern Trust Corp boosted its position in shares of BP Midstream Partners by 4.9% in the fourth quarter. Northern Trust Corp now owns 62,175 shares of the company’s stock worth $966,000 after buying an additional 2,905 shares during the period. American Century Companies Inc. boosted its position in shares of BP Midstream Partners by 71.2% in the fourth quarter. American Century Companies Inc. now owns 17,278 shares of the company’s stock worth $269,000 after buying an additional 7,188 shares during the period. Eagle Global Advisors LLC boosted its position in shares of BP Midstream Partners by 17.0% in the first quarter. Eagle Global Advisors LLC now owns 989,122 shares of the company’s stock worth $14,313,000 after buying an additional 143,772 shares during the period. Finally, Lindbrook Capital LLC boosted its position in shares of BP Midstream Partners by 138.2% in the first quarter. Lindbrook Capital LLC now owns 1,810 shares of the company’s stock worth $26,000 after buying an additional 1,050 shares during the period. Hedge funds and other institutional investors own 46.03% 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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Earnings History and Estimates for BP Midstream Partners (NYSE:BPMP)

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