BP Midstream Partners LP (NYSE:BPMP) was the target of a large decrease in short interest in July. As of July 31st, there was short interest totalling 553,500 shares, a decrease of 12.5% from the June 30th total of 632,600 shares. Based on an average daily volume of 234,200 shares, the days-to-cover ratio is presently 2.4 days. Approximately 1.1% of the shares of the stock are sold short.
A number of equities analysts recently issued reports on the stock. Mizuho assumed coverage on shares of BP Midstream Partners in a research report on Wednesday, June 5th. They set a “buy” rating and a $19.00 price objective for the company. Zacks Investment Research upgraded shares of BP Midstream Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a research report on Monday. Three investment analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $19.38.
BPMP stock traded down $0.26 during trading on Wednesday, reaching $14.32. 1,620 shares of the company were exchanged, compared to its average volume of 263,430. BP Midstream Partners has a twelve month low of $13.80 and a twelve month high of $21.44. The company has a debt-to-equity ratio of 2.17, a current ratio of 13.47 and a quick ratio of 13.47. The company has a market capitalization of $1.56 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.07 and a beta of 0.57. The business’s 50-day moving average is $15.64.
BP Midstream Partners (NYSE:BPMP) last posted its earnings results on Thursday, August 8th. The company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.02. BP Midstream Partners had a net margin of 122.39% and a return on equity of 43.69%. The firm had revenue of $28.60 million for the quarter, compared to analyst estimates of $31.41 million. During the same period in the previous year, the firm posted $0.29 EPS. The company’s revenue for the quarter was down 1.2% compared to the same quarter last year. As a group, research analysts forecast that BP Midstream Partners will post 1.39 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Wednesday, July 31st will be issued a dividend of $0.324 per share. This represents a $1.30 dividend on an annualized basis and a yield of 9.05%. The ex-dividend date is Tuesday, July 30th. BP Midstream Partners’s payout ratio is 101.57%.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cohen & Steers Inc. grew its holdings in BP Midstream Partners by 244.5% during the 2nd quarter. Cohen & Steers Inc. now owns 594,636 shares of the company’s stock worth $9,205,000 after acquiring an additional 422,031 shares during the last quarter. Tiedemann Advisors LLC grew its holdings in BP Midstream Partners by 3.8% during the 2nd quarter. Tiedemann Advisors LLC now owns 267,077 shares of the company’s stock worth $4,134,000 after acquiring an additional 9,660 shares during the last quarter. BlackRock Inc. grew its holdings in BP Midstream Partners by 4.8% during the 2nd quarter. BlackRock Inc. now owns 365,541 shares of the company’s stock worth $5,658,000 after acquiring an additional 16,672 shares during the last quarter. Infrastructure Capital Advisors LLC grew its holdings in BP Midstream Partners by 2.3% during the 2nd quarter. Infrastructure Capital Advisors LLC now owns 1,452,935 shares of the company’s stock worth $22,070,000 after acquiring an additional 33,340 shares during the last quarter. Finally, Eagle Global Advisors LLC grew its holdings in BP Midstream Partners by 31.3% during the 2nd quarter. Eagle Global Advisors LLC now owns 1,299,160 shares of the company’s stock worth $20,111,000 after acquiring an additional 310,038 shares during the last quarter. 46.03% of the stock is currently owned by hedge funds and other institutional investors.
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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