JPMorgan Chase & Co. downgraded shares of BP Midstream Partners (NYSE:BPMP) from an overweight rating to a neutral rating in a report issued on Tuesday, BenzingaRatingsTable reports. They currently have $17.00 price target on the stock, down from their previous price target of $19.00.

A number of other analysts have also recently issued reports on the company. Mizuho initiated coverage on BP Midstream Partners in a report on Wednesday, June 5th. They set a buy rating and a $19.00 target price for the company. Zacks Investment Research upgraded BP Midstream Partners from a hold rating to a buy rating and set a $17.00 target price for the company in a report on Monday, August 12th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $18.50.

BPMP opened at $14.58 on Tuesday. The company has a debt-to-equity ratio of 2.14, a current ratio of 9.43 and a quick ratio of 9.43. BP Midstream Partners has a 12 month low of $13.80 and a 12 month high of $20.59. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 11.48, a price-to-earnings-growth ratio of 1.03 and a beta of 0.57. The business has a 50-day moving average of $15.51 and a two-hundred day moving average of $15.22.

BP Midstream Partners (NYSE:BPMP) last issued its earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. BP Midstream Partners had a return on equity of 47.91% and a net margin of 122.39%. The business had revenue of $28.60 million during the quarter, compared to analysts’ expectations of $31.41 million. During the same quarter in the previous year, the business earned $0.29 EPS. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. Equities research analysts anticipate that BP Midstream Partners will post 1.44 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Wednesday, July 31st were issued a dividend of $0.324 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date was Tuesday, July 30th. BP Midstream Partners’s payout ratio is currently 101.57%.

Several large investors have recently modified their holdings of the company. Lindbrook Capital LLC lifted its position in BP Midstream Partners by 138.2% during the 1st quarter. Lindbrook Capital LLC now owns 1,810 shares of the company’s stock worth $26,000 after acquiring an additional 1,050 shares in the last quarter. Icon Wealth Partners LLC acquired a new position in BP Midstream Partners during the 1st quarter worth approximately $39,000. Alps Advisors Inc. lifted its position in BP Midstream Partners by 20.4% during the 1st quarter. Alps Advisors Inc. now owns 12,543 shares of the company’s stock worth $181,000 after acquiring an additional 2,125 shares in the last quarter. Moors & Cabot Inc. lifted its position in BP Midstream Partners by 10.6% during the 1st quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock worth $238,000 after acquiring an additional 1,600 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in BP Midstream Partners by 188.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 16,378 shares of the company’s stock worth $254,000 after acquiring an additional 10,693 shares in the last quarter. Institutional investors and hedge funds own 46.12% of the company’s stock.

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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Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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