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

BP Midstream Partners GP (NYSE:BPMP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday, March 23rd.

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. “

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Other analysts also recently issued research reports about the stock. Citigroup downgraded shares of BP Midstream Partners GP from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 9th. Mitsubishi UFJ Financial Group assumed coverage on shares of BP Midstream Partners GP in a research note on Friday, December 15th. They set a “neutral” rating and a $21.00 price target for the company. UBS lifted their price target on shares of BP Midstream Partners GP from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. Credit Suisse Group assumed coverage on shares of BP Midstream Partners GP in a research note on Thursday, January 4th. They issued a “neutral” rating and a $19.00 price objective for the company. Finally, Bank of America assumed coverage on shares of BP Midstream Partners GP in a research note on Friday, January 12th. They issued a “neutral” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. BP Midstream Partners GP presently has a consensus rating of “Hold” and a consensus target price of $20.88.



Shares of BP Midstream Partners GP stock traded up $0.89 on Friday, hitting $18.18. 194,935 shares of the company traded hands, compared to its average volume of 180,237. BP Midstream Partners GP has a 52 week low of $16.83 and a 52 week high of $23.00. The company has a market capitalization of $1,811.13 and a PE ratio of 86.57.

BP Midstream Partners GP (NYSE:BPMP) last posted its quarterly earnings results on Thursday, March 22nd. The company reported $0.21 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.07). The firm had revenue of $27.61 million for the quarter, compared to analysts’ expectations of $27.23 million. The firm’s quarterly revenue was up 28.6% on a year-over-year basis. research analysts expect that BP Midstream Partners GP will post 1.14 earnings per share for the current year.

Large investors have recently modified their holdings of the stock. US Bancorp DE bought a new position in BP Midstream Partners GP in the fourth quarter worth approximately $136,000. Keybank National Association OH bought a new position in BP Midstream Partners GP in the fourth quarter worth approximately $248,000. Diversified Trust Co bought a new position in BP Midstream Partners GP in the fourth quarter worth approximately $253,000. Signaturefd LLC bought a new position in BP Midstream Partners GP in the fourth quarter worth approximately $257,000. Finally, Jefferies Group LLC purchased a new position in BP Midstream Partners GP in the fourth quarter worth $411,000. 49.71% of the stock is owned by institutional investors.

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BP Midstream Partners GP Company Profile

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 GP (NYSE:BPMP)

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