BP Midstream Partners (NYSE:BPMP) was upgraded by equities research analysts at ValuEngine from a “sell” rating to a “hold” rating in a report released on Monday.
Several other research analysts have also recently issued reports on the company. Zacks Investment Research cut BP Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Mitsubishi UFJ Financial Group raised BP Midstream Partners from a “neutral” rating to an “overweight” rating and upped their target price for the company from $23.00 to $25.00 in a report on Friday, August 10th. UBS Group upped their target price on BP Midstream Partners from $24.00 to $25.00 and gave the company a “buy” rating in a report on Friday, August 10th. Finally, Barclays upped their target price on BP Midstream Partners from $19.00 to $22.00 and gave the company an “equal weight” rating in a report on Friday, May 11th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $22.00.
NYSE:BPMP opened at $20.59 on Monday. The firm has a market capitalization of $2.16 billion and a price-to-earnings ratio of 98.19. BP Midstream Partners has a 1 year low of $16.83 and a 1 year high of $23.00.
BP Midstream Partners (NYSE:BPMP) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate 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%. The company’s revenue was up 7.6% compared to the same quarter last year. equities analysts expect that BP Midstream Partners will post 1.21 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of the business. Bank of America Corp DE grew its holdings in BP Midstream Partners by 54.1% in the second quarter. Bank of America Corp DE now owns 13,070 shares of the company’s stock valued at $274,000 after purchasing an additional 4,589 shares during the last quarter. BlackRock Inc. boosted its stake in shares of BP Midstream Partners by 0.6% during the first quarter. BlackRock Inc. now owns 754,632 shares of the company’s stock valued at $13,463,000 after acquiring an additional 4,632 shares during the last quarter. Eagle Global Advisors LLC boosted its stake in shares of BP Midstream Partners by 0.5% during the first quarter. Eagle Global Advisors LLC now owns 923,900 shares of the company’s stock valued at $16,482,000 after acquiring an additional 5,000 shares during the last quarter. First Republic Investment Management Inc. boosted its stake in shares of BP Midstream Partners by 12.4% during the first quarter. First Republic Investment Management Inc. now owns 54,145 shares of the company’s stock valued at $965,000 after acquiring an additional 5,971 shares during the last quarter. Finally, Baldwin Brothers Inc. MA acquired a new stake in shares of BP Midstream Partners during the second quarter valued at $162,000. 46.48% of the stock is currently owned by institutional investors.
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.
Featured Article: Outstanding Shares
To view ValuEngine’s full report, visit ValuEngine’s official website.
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.