BP Midstream Partners (BPMP) Downgraded by ValuEngine to “Sell”

ValuEngine downgraded shares of BP Midstream Partners (NYSE:BPMP) from a hold rating to a sell rating in a research note released on Friday.

Other equities research analysts have also issued reports about the stock. UBS lifted their price target on shares of BP Midstream Partners from $21.00 to $24.00 and gave the company a buy rating in a report on Friday, March 2nd. Barclays decreased their price target on shares of BP Midstream Partners from $22.00 to $20.00 and set an equal weight rating on the stock in a report on Friday. Bank of America started coverage on shares of BP Midstream Partners in a report on Friday, January 12th. They set a neutral rating and a $22.00 price target on the stock. Citigroup lowered shares of BP Midstream Partners from a buy rating to a neutral rating in a report on Tuesday, January 9th. Finally, Credit Suisse Group started 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 on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. BP Midstream Partners presently has an average rating of Hold and an average price target of $21.13.

Shares of BP Midstream Partners (NYSE:BPMP) opened at $17.34 on Friday. BP Midstream Partners has a 1-year low of $16.85 and a 1-year high of $23.00.

BP Midstream Partners (NYSE:BPMP) last announced its quarterly earnings results on Thursday, March 22nd. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.07). The company had revenue of $27.61 million for the quarter, compared to the consensus estimate of $27.23 million. The business’s revenue for the quarter was up 28.6% compared to the same quarter last year. equities research analysts forecast that BP Midstream Partners will post 1.14 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of BPMP. US Bancorp DE bought a new stake in BP Midstream Partners during the 4th quarter worth approximately $136,000. Keybank National Association OH bought a new stake in BP Midstream Partners during the 4th quarter worth approximately $248,000. Diversified Trust Co bought a new stake in BP Midstream Partners during the 4th quarter worth approximately $253,000. Signaturefd LLC bought a new stake in BP Midstream Partners during the 4th quarter worth approximately $257,000. Finally, Jefferies Group LLC bought a new stake in BP Midstream Partners during the 4th quarter worth approximately $411,000. 49.71% of the stock is currently owned by hedge funds and other institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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