BP Midstream Partners LP (BPMP) Expected to Post Earnings of $0.30 Per Share
Wall Street brokerages expect that BP Midstream Partners LP (NYSE:BPMP) will announce earnings per share (EPS) of $0.30 for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for BP Midstream Partners’ earnings. The lowest EPS estimate is $0.29 and the highest is $0.32. The firm is scheduled to announce its next earnings results on Thursday, November 8th.
According to Zacks, analysts expect that BP Midstream Partners will report full-year earnings of $1.21 per share for the current fiscal year, with EPS estimates ranging from $1.19 to $1.23. For the next year, analysts expect that the company will report earnings of $1.50 per share, with EPS estimates ranging from $1.39 to $1.60. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for BP Midstream Partners.
BP Midstream Partners (NYSE:BPMP) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $27.40 million. The company’s revenue for the quarter was up 7.6% on a year-over-year basis.
Several institutional investors and hedge funds have recently made changes to their positions in the business. Bank of Montreal Can boosted its holdings in shares of BP Midstream Partners by 84.4% in the third quarter. Bank of Montreal Can now owns 143,949 shares of the company’s stock worth $2,706,000 after buying an additional 65,866 shares during the period. Spirit of America Management Corp NY boosted its holdings in shares of BP Midstream Partners by 172.4% in the third quarter. Spirit of America Management Corp NY now owns 124,196 shares of the company’s stock worth $2,335,000 after buying an additional 78,600 shares during the period. Marshall Wace LLP acquired a new position in shares of BP Midstream Partners in the second quarter worth about $1,976,000. Bank of America Corp DE boosted its holdings in shares of BP Midstream Partners by 54.1% in the second quarter. Bank of America Corp DE now owns 13,070 shares of the company’s stock worth $274,000 after buying an additional 4,589 shares during the period. Finally, ING Groep NV acquired a new position in shares of BP Midstream Partners in the second quarter worth about $35,683,000. Institutional investors own 51.26% of the company’s stock.
NYSE:BPMP opened at $17.79 on Friday. BP Midstream Partners has a twelve month low of $16.83 and a twelve month high of $23.00. The stock has a market cap of $1.97 billion and a PE ratio of 84.71.
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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