BP Midstream Partners (NYSE:BPMP) had its price target reduced by Barclays from $22.00 to $21.00 in a report issued on Friday morning. Barclays currently has an equal weight rating on the stock.

Several other research analysts also recently issued reports on the company. JPMorgan Chase & Co. cut their price objective on BP Midstream Partners from $25.00 to $24.00 and set an overweight rating for the company in a research report on Friday, August 24th. ValuEngine downgraded BP Midstream Partners from a hold rating to a sell rating in a research report on Wednesday, August 29th. UBS Group lifted their price objective on BP Midstream Partners from $24.00 to $25.00 and gave the stock a buy rating in a research report on Friday, August 10th. Zacks Investment Research upgraded BP Midstream Partners from a hold rating to a buy rating and set a $24.00 price objective for the company in a research report on Monday, August 13th. Finally, Morgan Stanley lifted their price objective on BP Midstream Partners from $22.00 to $23.00 and gave the stock an equal weight rating in a research report on Friday, August 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company. BP Midstream Partners currently has a consensus rating of Hold and a consensus target price of $22.00.

Shares of BPMP stock traded down $0.01 during midday trading on Friday, reaching $17.79. 170,377 shares of the company traded hands, compared to its average volume of 202,586. BP Midstream Partners has a 1-year low of $16.83 and a 1-year high of $23.00. The company has a market cap of $1.97 billion and a price-to-earnings ratio of 84.71.

BP Midstream Partners (NYSE:BPMP) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.03. BP Midstream Partners had a net margin of 85.62% and a return on equity of 20.65%. The company had revenue of $28.94 million during the quarter, compared to the consensus estimate of $27.40 million. BP Midstream Partners’s revenue was up 7.6% on a year-over-year basis. As a group, equities research analysts expect that BP Midstream Partners will post 1.22 earnings per share for the current year.

Several institutional investors have recently modified their holdings of BPMP. Bank of Montreal Can raised its holdings in BP Midstream Partners by 84.4% in the 3rd quarter. Bank of Montreal Can now owns 143,949 shares of the company’s stock valued at $2,706,000 after acquiring an additional 65,866 shares during the last quarter. Spirit of America Management Corp NY raised its holdings in BP Midstream Partners by 172.4% in the 3rd quarter. Spirit of America Management Corp NY now owns 124,196 shares of the company’s stock valued at $2,335,000 after acquiring an additional 78,600 shares during the last quarter. Marshall Wace LLP acquired a new position in BP Midstream Partners in the 2nd quarter valued at $1,976,000. Bank of America Corp DE raised its holdings in BP Midstream Partners by 54.1% in the 2nd quarter. Bank of America Corp DE now owns 13,070 shares of the company’s stock valued at $274,000 after acquiring an additional 4,589 shares during the last quarter. Finally, ING Groep NV acquired a new position in BP Midstream Partners in the 2nd quarter valued at $35,683,000. Hedge funds and other institutional investors own 51.26% 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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Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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