Zacks: Analysts Expect BP Midstream Partners LP (BPMP) Will Post Earnings of $0.26 Per Share

Analysts expect BP Midstream Partners LP (NYSE:BPMP) to report earnings per share of $0.26 for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for BP Midstream Partners’ earnings, with the highest EPS estimate coming in at $0.28 and the lowest estimate coming in at $0.22. The firm is scheduled to issue its next earnings results on Thursday, June 28th.

On average, analysts expect that BP Midstream Partners will report full-year earnings of $1.14 per share for the current fiscal year, with EPS estimates ranging from $1.04 to $1.27. For the next fiscal year, analysts forecast that the company will post earnings of $1.40 per share, with EPS estimates ranging from $1.25 to $1.48. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that that provide coverage for BP Midstream Partners.

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BP Midstream Partners (NYSE:BPMP) last released its quarterly earnings results on Thursday, March 22nd. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.07). The business had revenue of $27.61 million during the quarter, compared to analyst estimates of $27.23 million. BP Midstream Partners’s revenue for the quarter was up 28.6% on a year-over-year basis.

A number of research analysts have commented on BPMP shares. Zacks Investment Research lowered BP Midstream Partners from a “hold” rating to a “sell” rating in a research report on Friday, March 23rd. Credit Suisse Group started coverage on BP Midstream Partners in a research report on Thursday, January 4th. They set a “neutral” rating and a $19.00 price target for the company. Mitsubishi UFJ Financial Group started coverage on BP Midstream Partners in a research report on Friday, December 15th. They set a “neutral” rating and a $21.00 price target for the company. Citigroup lowered their price target on BP Midstream Partners from $21.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, March 28th. Finally, Bank of America began coverage on BP Midstream Partners in a report on Friday, January 12th. They set a “neutral” rating and a $22.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $20.88.

BPMP traded down $0.41 during midday trading on Friday, reaching $16.90. 59,264 shares of the company’s stock traded hands, compared to its average volume of 180,312. The firm has a market capitalization of $1,813.22 and a price-to-earnings ratio of 81.24. BP Midstream Partners has a 52 week low of $16.85 and a 52 week high of $23.00.

Hedge funds have recently bought and sold shares of the business. US Bancorp DE purchased a new position in shares of BP Midstream Partners during the 4th quarter worth approximately $136,000. Keybank National Association OH purchased a new stake in shares of BP Midstream Partners in the 4th quarter worth approximately $248,000. Diversified Trust Co purchased a new stake in shares of BP Midstream Partners in the 4th quarter worth approximately $253,000. Signaturefd LLC purchased a new stake in shares of BP Midstream Partners in the 4th quarter worth approximately $257,000. Finally, Jefferies Group LLC purchased a new stake in shares of BP Midstream Partners in the 4th quarter worth approximately $411,000. Hedge funds and other institutional investors own 49.71% of the company’s stock.

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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.

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