Equities research analysts forecast that BP Midstream Partners LP (NYSE:BPMP) will report sales of $29.23 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have made estimates for BP Midstream Partners’ earnings, with the lowest sales estimate coming in at $28.00 million and the highest estimate coming in at $30.45 million. The firm is scheduled to announce its next earnings results before the market opens on Wednesday, November 14th.

According to Zacks, analysts expect that BP Midstream Partners will report full-year sales of $116.21 million for the current fiscal year, with estimates ranging from $115.66 million to $116.75 million. For the next financial year, analysts anticipate that the company will report sales of $156.67 million, with estimates ranging from $125.49 million to $187.85 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last posted its earnings results on Thursday, August 9th. The company reported $0.29 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $27.40 million. The business’s revenue was up 7.6% compared to the same quarter last year.

A number of research analysts have issued reports on BPMP shares. Zacks Investment Research upgraded shares of BP Midstream Partners from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Monday, August 13th. UBS Group upped their price target on shares of BP Midstream Partners from $24.00 to $25.00 and gave the company a “buy” rating in a research note on Friday, August 10th. Morgan Stanley upped their price target on shares of BP Midstream Partners from $22.00 to $23.00 and gave the company an “equal weight” rating in a research note on Friday, August 24th. Barclays cut their price target on shares of BP Midstream Partners from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Friday, October 12th. Finally, ValuEngine upgraded shares of BP Midstream Partners from a “sell” rating to a “hold” rating in a research note on Monday, August 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. BP Midstream Partners has a consensus rating of “Hold” and an average target price of $22.00.

Several large investors have recently added to or reduced their stakes in BPMP. Bank of America Corp DE boosted its holdings in BP Midstream Partners by 54.1% during 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 in the last quarter. BlackRock Inc. boosted its holdings in BP Midstream Partners by 0.6% during the first quarter. BlackRock Inc. now owns 754,632 shares of the company’s stock worth $13,463,000 after buying an additional 4,632 shares in the last quarter. Baldwin Brothers Inc. MA purchased a new stake in BP Midstream Partners during the second quarter worth $162,000. Stifel Financial Corp boosted its holdings in BP Midstream Partners by 13.4% during the first quarter. Stifel Financial Corp now owns 75,260 shares of the company’s stock worth $1,341,000 after buying an additional 8,898 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new stake in BP Midstream Partners during the second quarter worth $236,000. Hedge funds and other institutional investors own 51.26% of the company’s stock.

BP Midstream Partners stock traded down $0.02 during mid-day trading on Monday, reaching $18.61. 146,852 shares of the company traded hands, compared to its average volume of 241,622. BP Midstream Partners has a fifty-two week low of $16.83 and a fifty-two week high of $23.00. The firm has a market capitalization of $1.95 billion and a price-to-earnings ratio of 88.62.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be paid a $0.292 dividend. The ex-dividend date is Wednesday, October 31st. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.28%. This is a positive change from BP Midstream Partners’s previous quarterly dividend of $0.27. BP Midstream Partners’s dividend payout ratio is presently 519.05%.

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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