BP Midstream Partners LP (NYSE:BPMP) Receives $15.14 Average Target Price from Brokerages

BP Midstream Partners LP (NYSE:BPMPGet Rating) has been assigned an average recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $15.14.

Several research analysts have weighed in on BPMP shares. Zacks Investment Research upgraded BP Midstream Partners from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 8th. Mizuho boosted their price objective on shares of BP Midstream Partners from $13.50 to $17.00 in a research note on Wednesday, January 12th. Finally, Citigroup cut shares of BP Midstream Partners from a “neutral” rating to a “sell” rating and boosted their price objective for the company from $15.58 to $16.00 in a research note on Tuesday, March 1st.

Shares of BPMP opened at $17.11 on Friday. The stock has a fifty day moving average of $17.28 and a two-hundred day moving average of $15.54. The company has a debt-to-equity ratio of 1.87, a quick ratio of 8.59 and a current ratio of 8.59. The company has a market capitalization of $1.79 billion, a PE ratio of 12.22 and a beta of 1.10. BP Midstream Partners has a fifty-two week low of $12.61 and a fifty-two week high of $19.37.

The business also recently announced a quarterly dividend, which was paid on Monday, February 14th. Stockholders of record on Monday, January 31st were paid a $0.3475 dividend. This represents a $1.39 dividend on an annualized basis and a dividend yield of 8.12%. The ex-dividend date of this dividend was Friday, January 28th. This is a positive change from BP Midstream Partners’s previous quarterly dividend of $0.35. BP Midstream Partners’s dividend payout ratio is 99.29%.

Institutional investors have recently modified their holdings of the company. Qube Research & Technologies Ltd acquired a new stake in shares of BP Midstream Partners in the 4th quarter valued at about $2,261,000. Stockman Wealth Management Inc. raised its stake in shares of BP Midstream Partners by 36.4% in the 3rd quarter. Stockman Wealth Management Inc. now owns 15,000 shares of the company’s stock valued at $199,000 after purchasing an additional 4,000 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of BP Midstream Partners by 11.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 5,085,839 shares of the company’s stock valued at $77,813,000 after purchasing an additional 525,601 shares in the last quarter. First Pacific Advisors LP acquired a new stake in shares of BP Midstream Partners in the 4th quarter valued at about $2,126,000. Finally, Alphastar Capital Management LLC acquired a new stake in shares of BP Midstream Partners in the 4th quarter valued at about $195,000. Institutional investors and hedge funds own 80.70% of the company’s stock.

BP Midstream Partners Company Profile (Get Rating)

BP Midstream Partners LP owns, acquires, develops, and operates pipelines and other midstream assets in the United States. Its assets consist of interests in entities that own crude oil, natural gas, refined products, and diluent pipelines, as well as refined product terminals to transport onshore crude oil production to refinery in Whiting, Indiana as well as offshore crude oil and natural gas production to refining markets, and trading and distribution hubs.

Further Reading

Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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