BP Midstream Partners (BPMP) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of BP Midstream Partners (NYSE:BPMP) from a hold rating to a strong sell rating in a research note released on Wednesday.

According to Zacks, “BP Midstream Partners LP is a master limited partnership. It owns, acquires, operates and develops pipelines and other midstream assets. The Company provides crude oil, natural gas and refined products. It offers an onshore crude oil, refined, and diluent pipeline systems. BP Midstream Partners LP is based in Houston, Texas. “

A number of other analysts have also recently weighed in on BPMP. Barclays decreased their price target on shares of BP Midstream Partners from $21.00 to $20.00 and set an equal weight rating for the company in a research report on Thursday, November 15th. Citigroup decreased their price target on shares of BP Midstream Partners from $21.00 to $17.00 and set a buy rating for the company in a research report on Thursday, November 29th. TheStreet cut shares of BP Midstream Partners from a c- rating to a d+ rating in a research report on Friday, December 28th. Morgan Stanley cut their price objective on shares of BP Midstream Partners from $23.00 to $22.00 and set an equal weight rating on the stock in a report on Friday, November 30th. Finally, ValuEngine lowered shares of BP Midstream Partners from a hold rating to a sell rating in a report on Tuesday, November 6th. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. BP Midstream Partners has an average rating of Hold and an average price target of $20.89.

Shares of BP Midstream Partners stock opened at $15.45 on Wednesday. BP Midstream Partners has a twelve month low of $14.26 and a twelve month high of $22.98. The firm has a market cap of $1.72 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 1.16 and a beta of 0.65.

BP Midstream Partners (NYSE:BPMP) last announced its quarterly earnings results on Thursday, February 28th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). BP Midstream Partners had a return on equity of 20.20% and a net margin of 102.40%. As a group, analysts anticipate that BP Midstream Partners will post 1.35 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 14th. Shareholders of record on Thursday, January 31st were issued a $0.301 dividend. The ex-dividend date of this dividend was Wednesday, January 30th. This represents a $1.20 dividend on an annualized basis and a yield of 7.79%. This is a positive change from BP Midstream Partners’s previous quarterly dividend of $0.29. BP Midstream Partners’s payout ratio is currently 95.28%.

A number of hedge funds have recently modified their holdings of the business. Energy Income Partners LLC lifted its holdings in BP Midstream Partners by 56.7% in the 4th quarter. Energy Income Partners LLC now owns 2,817,004 shares of the company’s stock worth $43,776,000 after buying an additional 1,019,864 shares in the last quarter. Barclays PLC acquired a new position in BP Midstream Partners in the 4th quarter worth $164,000. Tortoise Index Solutions LLC lifted its holdings in BP Midstream Partners by 101.7% in the 4th quarter. Tortoise Index Solutions LLC now owns 16,658 shares of the company’s stock worth $259,000 after buying an additional 8,401 shares in the last quarter. Tortoise Capital Advisors L.L.C. lifted its holdings in BP Midstream Partners by 3.1% in the 4th quarter. Tortoise Capital Advisors L.L.C. now owns 6,192,992 shares of the company’s stock worth $96,239,000 after buying an additional 184,158 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in BP Midstream Partners by 0.3% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 5,341,812 shares of the company’s stock worth $83,001,000 after buying an additional 16,030 shares in the last quarter. Hedge funds and other institutional investors own 48.94% of the company’s stock.

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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