Research analysts at Credit Suisse Group started coverage on shares of BP Midstream Partners (NYSE:BPMP) in a research report issued on Thursday, MarketBeat reports. The brokerage set an “underperform” rating and a $18.00 price target on the stock. Credit Suisse Group’s price objective indicates a potential upside of 1.18% from the company’s previous close.

A number of other brokerages have also issued reports on BPMP. Zacks Investment Research lowered shares of BP Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. UBS Group boosted their price target on shares of BP Midstream Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Mitsubishi UFJ Financial Group raised shares of BP Midstream Partners from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $23.00 to $25.00 in a research note on Friday, August 10th. ValuEngine raised shares of BP Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Morgan Stanley boosted their price target on shares of BP Midstream Partners from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research note on Friday, August 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $22.10.

Shares of BPMP stock opened at $17.79 on Thursday. BP Midstream Partners has a 1 year low of $16.83 and a 1 year high of $23.00. The company has a market cap of $1.97 billion and a PE ratio of 84.71.

BP Midstream Partners (NYSE:BPMP) last announced its earnings results on Thursday, August 9th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.03. BP Midstream Partners had a net margin of 85.62% and a return on equity of 20.65%. The company had revenue of $28.94 million for the quarter, compared to analyst estimates of $27.40 million. BP Midstream Partners’s revenue was up 7.6% compared to the same quarter last year. Research analysts anticipate that BP Midstream Partners will post 1.22 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Tortoise Capital Advisors L.L.C. raised its stake in shares of BP Midstream Partners by 1.1% during the second quarter. Tortoise Capital Advisors L.L.C. now owns 7,064,549 shares of the company’s stock worth $148,285,000 after buying an additional 77,585 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in BP Midstream Partners in the second quarter valued at approximately $36,447,000. ING Groep NV bought a new stake in BP Midstream Partners in the second quarter valued at approximately $35,683,000. BlackRock Inc. increased its stake in BP Midstream Partners by 0.6% in the first 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. Finally, Summit Trail Advisors LLC increased its stake in BP Midstream Partners by 1,206.8% in the first quarter. Summit Trail Advisors LLC now owns 683,758 shares of the company’s stock valued at $684,000 after purchasing an additional 631,434 shares in the last quarter. 51.26% of the stock is owned by institutional investors and hedge funds.

About BP Midstream Partners

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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Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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