BP Midstream Partners LP (NYSE:BPMP) Short Interest Update

BP Midstream Partners LP (NYSE:BPMP) saw a large growth in short interest during the month of December. As of December 29th, there was short interest totalling 1,016,375 shares, a growth of 31.2% from the December 15th total of 774,793 shares. Based on an average daily volume of 348,820 shares, the short-interest ratio is presently 2.9 days. Approximately 1.9% of the shares of the stock are sold short.

Shares of BP Midstream Partners (NYSE:BPMP) traded up $0.21 during trading on Wednesday, reaching $19.80. 85,020 shares of the company’s stock traded hands, compared to its average volume of 209,723. BP Midstream Partners has a 12-month low of $16.85 and a 12-month high of $23.00.

The company also recently announced a special dividend, which will be paid on Thursday, February 15th. Stockholders of record on Thursday, February 1st will be paid a $0.1798 dividend. The ex-dividend date is Wednesday, January 31st. This represents a dividend yield of 0.00841573033707865%.

Several large investors have recently modified their holdings of the company. US Bancorp DE acquired a new position in BP Midstream Partners during the 4th quarter worth about $136,000. Keybank National Association OH acquired a new position in BP Midstream Partners during the 4th quarter valued at about $248,000. Diversified Trust Co acquired a new position in BP Midstream Partners during the 4th quarter valued at about $253,000. Signaturefd LLC acquired a new position in BP Midstream Partners during the 4th quarter valued at about $257,000. Finally, Jefferies Group LLC bought a new stake in shares of BP Midstream Partners in the 4th quarter valued at about $411,000. Institutional investors own 6.48% of the company’s stock.

Several research analysts have recently weighed in on BPMP shares. Morgan Stanley started coverage on shares of BP Midstream Partners in a research report on Monday, November 20th. They issued an “equal weight” rating and a $20.00 target price on the stock. Goldman Sachs Group initiated coverage on shares of BP Midstream Partners in a report on Monday, November 20th. They set a “neutral” rating and a $22.00 price target for the company. Credit Suisse Group began coverage on shares of BP Midstream Partners in a report on Thursday, January 4th. They set a “neutral” rating and a $19.00 price target for the company. Bank of America began coverage on shares of BP Midstream Partners in a research note on Friday, January 12th. They issued a “neutral” rating and a $22.00 target price for the company. Finally, Mitsubishi UFJ Financial Group began coverage on shares of BP Midstream Partners in a research note on Friday, December 15th. They issued a “neutral” rating and a $21.00 target price for the company. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $20.75.

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About BP Midstream Partners

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.

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