BP Midstream Partners (BPMP) Price Target Cut to $21.00 by Analysts at Barclays

BP Midstream Partners (NYSE:BPMP) had its price target decreased by Barclays from $22.00 to $21.00 in a research note published on Friday morning. Barclays currently has an equal weight rating on the stock.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised BP Midstream Partners from a hold rating to a buy rating and set a $24.00 price target on the stock in a report on Monday, August 13th. UBS Group raised their price target on BP Midstream Partners from $24.00 to $25.00 and gave the stock a buy rating in a report on Friday, August 10th. Morgan Stanley raised their price target on BP Midstream Partners from $22.00 to $23.00 and gave the stock an equal weight rating in a report on Friday, August 24th. ValuEngine raised BP Midstream Partners from a sell rating to a hold rating in a report on Monday, August 20th. Finally, Bank of America lowered their price target on BP Midstream Partners from $22.00 to $21.00 and set a neutral rating on the stock in a report on Friday, October 5th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus price target of $22.00.

Shares of BPMP stock traded down $0.01 during mid-day trading on Friday, hitting $17.79. 170,377 shares of the stock were exchanged, compared to its average volume of 202,586. The firm has a market cap of $1.97 billion and a price-to-earnings ratio of 84.71. BP Midstream Partners has a 12-month low of $16.83 and a 12-month high of $23.00.

BP Midstream Partners (NYSE:BPMP) last issued its quarterly earnings data on Thursday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.03. BP Midstream Partners had a return on equity of 20.65% and a net margin of 85.62%. The company had revenue of $28.94 million for the quarter, compared to analyst estimates of $27.40 million. The business’s revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that BP Midstream Partners will post 1.22 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in BPMP. BlackRock Inc. boosted its holdings in BP Midstream Partners by 0.6% in the 1st quarter. BlackRock Inc. now owns 754,632 shares of the company’s stock valued at $13,463,000 after purchasing an additional 4,632 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in BP Midstream Partners by 50.8% in the 1st quarter. JPMorgan Chase & Co. now owns 82,074 shares of the company’s stock valued at $1,464,000 after purchasing an additional 27,643 shares in the last quarter. Stifel Financial Corp boosted its holdings in BP Midstream Partners by 13.4% in the 1st quarter. Stifel Financial Corp now owns 75,260 shares of the company’s stock valued at $1,341,000 after purchasing an additional 8,898 shares in the last quarter. Mariner LLC purchased a new stake in BP Midstream Partners in the 1st quarter valued at approximately $561,000. Finally, Moors & Cabot Inc. purchased a new stake in BP Midstream Partners in the 1st quarter valued at approximately $209,000. 51.26% of the stock is currently owned by institutional investors.

BP Midstream Partners 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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