BP Midstream Partners LP (NYSE:BPMP) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 553,500 shares, a decrease of 12.5% from the June 30th total of 632,600 shares. Based on an average trading volume of 234,200 shares, the short-interest ratio is presently 2.4 days. Approximately 1.1% of the shares of the company are short sold.

A number of hedge funds and other institutional investors have recently modified their holdings of BPMP. Lindbrook Capital LLC increased its holdings in shares of BP Midstream Partners by 138.2% during the first quarter. Lindbrook Capital LLC now owns 1,810 shares of the company’s stock valued at $26,000 after purchasing an additional 1,050 shares during the period. Icon Wealth Partners LLC acquired a new position in shares of BP Midstream Partners during the first quarter valued at $39,000. Alps Advisors Inc. increased its holdings in shares of BP Midstream Partners by 20.4% during the first quarter. Alps Advisors Inc. now owns 12,543 shares of the company’s stock valued at $181,000 after purchasing an additional 2,125 shares during the period. Moors & Cabot Inc. increased its holdings in shares of BP Midstream Partners by 10.6% during the first quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock valued at $238,000 after purchasing an additional 1,600 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in shares of BP Midstream Partners by 188.1% during the second quarter. BNP Paribas Arbitrage SA now owns 16,378 shares of the company’s stock valued at $254,000 after purchasing an additional 10,693 shares during the period. 46.03% of the stock is currently owned by hedge funds and other institutional investors.

NYSE BPMP traded up $0.17 during trading hours on Thursday, hitting $14.31. The company had a trading volume of 15,831 shares, compared to its average volume of 252,971. BP Midstream Partners has a fifty-two week low of $13.80 and a fifty-two week high of $21.24. The company has a current ratio of 13.47, a quick ratio of 13.47 and a debt-to-equity ratio of 2.17. The business has a fifty day moving average of $15.62. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 11.26, a P/E/G ratio of 1.04 and a beta of 0.57.

BP Midstream Partners (NYSE:BPMP) last issued its earnings results on Thursday, August 8th. The company reported $0.36 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. BP Midstream Partners had a return on equity of 43.69% and a net margin of 122.39%. The firm had revenue of $28.60 million for the quarter, compared to analyst estimates of $31.41 million. During the same period last year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts expect that BP Midstream Partners will post 1.44 earnings per share for the current fiscal year.

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. This represents a $1.30 annualized dividend and a yield of 9.06%. The ex-dividend date of this dividend was Tuesday, July 30th. BP Midstream Partners’s dividend payout ratio is presently 101.57%.

Several research firms recently issued reports on BPMP. Zacks Investment Research raised 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. Mizuho began coverage on 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 assigned a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $19.38.

About BP Midstream Partners

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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