BP Midstream Partners (NYSE:BPMP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

According to Zacks, “BP Midstream Partners LP is a master limited partnership. It owns, acquires, operates and develops pipelines and other midstream assets. The Company provides crude oil, natural gas and refined products. It offers an onshore crude oil, refined, and diluent pipeline systems. BP Midstream Partners LP is based in Houston, Texas. “

Other equities research analysts also recently issued reports about the company. ValuEngine upgraded BP Midstream Partners from a “sell” rating to a “hold” rating in a report on Monday, August 20th. JPMorgan Chase & Co. lowered their price target on BP Midstream Partners from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Friday, August 24th. Morgan Stanley boosted their price target on BP Midstream Partners from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, August 24th. Mitsubishi UFJ Financial Group upgraded BP Midstream Partners from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $23.00 to $25.00 in a report on Friday, August 10th. Finally, UBS Group upped their price objective on BP Midstream Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, August 10th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $21.44.

Shares of NYSE BPMP traded up $0.76 during trading on Wednesday, reaching $16.77. The stock had a trading volume of 314,505 shares, compared to its average volume of 205,484. BP Midstream Partners has a one year low of $15.51 and a one year high of $23.00. The company has a market capitalization of $1.71 billion and a price-to-earnings ratio of 79.86.

BP Midstream Partners (NYSE:BPMP) last issued its quarterly earnings results on Wednesday, November 14th. The company reported $0.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. BP Midstream Partners had a return on equity of 20.20% and a net margin of 102.40%. The business had revenue of $32.10 million during the quarter, compared to the consensus estimate of $27.92 million. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. Research analysts forecast that BP Midstream Partners will post 1.28 EPS for the current year.

Several large investors have recently added to or reduced their stakes in BPMP. Tortoise Index Solutions LLC grew its stake in shares of BP Midstream Partners by 139.1% in the third quarter. Tortoise Index Solutions LLC now owns 8,257 shares of the company’s stock worth $155,000 after purchasing an additional 4,804 shares in the last quarter. Baldwin Brothers Inc. MA bought a new position in shares of BP Midstream Partners in the second quarter worth $162,000. Commonwealth Equity Services LLC bought a new position in shares of BP Midstream Partners in the second quarter worth $236,000. Bank of New York Mellon Corp bought a new position in shares of BP Midstream Partners in the third quarter worth $263,000. Finally, Heronetta Management L.P. acquired a new stake in shares of BP Midstream Partners in the second quarter valued at $273,000. 48.15% of the stock is owned by institutional investors.

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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