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 equities analysts have recently weighed in on the stock. 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 raised their price objective on shares of BP Midstream Partners from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Mitsubishi UFJ Financial Group upgraded shares of BP Midstream Partners from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $23.00 to $25.00 in a research report on Friday, August 10th. ValuEngine upgraded shares of BP Midstream Partners from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Morgan Stanley raised their target price on shares of BP Midstream Partners from $22.00 to $23.00 and gave the stock an “equal weight” rating in a report 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 company. The company currently has an average rating of “Hold” and a consensus price target of $22.10.

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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