Citigroup Initiates Coverage on BP Midstream Partners (BPMP)

Equities research analysts at Citigroup assumed coverage on shares of BP Midstream Partners (NYSE:BPMP) in a report issued on Monday, November 20th, MarketBeat reports. The brokerage set a “buy” rating and a $21.00 price target on the stock. Citigroup’s target price suggests a potential upside of 14.88% from the stock’s current price.

BPMP has been the topic of several other research reports. Barclays started coverage on BP Midstream Partners in a research note on Monday, November 20th. They set an “equal weight” rating and a $20.00 target price on the stock. J P Morgan Chase & Co started coverage on BP Midstream Partners in a research note on Monday, November 20th. They set an “overweight” rating on the stock. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $20.80.

Shares of BP Midstream Partners (NYSE BPMP) traded up $0.09 during trading on Monday, hitting $18.28. The stock had a trading volume of 383,361 shares, compared to its average volume of 606,552. BP Midstream Partners has a twelve month low of $16.85 and a twelve month high of $18.91.

In other news, Director Clive Christison purchased 2,500 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $45,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Robert P. Zinsmeister purchased 5,555 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $99,990.00. The disclosure for this purchase can be found here.

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BP Midstream Partners Company Profile

BP Midstream Partners LP is a master limited partnership formed by BP Pipelines (North America) Inc The Company owns, operates, develops and acquires pipelines and other midstream assets. It owns one onshore crude oil pipeline system, one onshore refined products pipeline system, one onshore diluent pipeline system, interests in four offshore crude oil pipeline systems and an interest in one offshore natural gas pipeline system.

Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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