Equities analysts expect that BP Midstream Partners LP (NYSE:BPMP) will post sales of $37.00 million for the current quarter, according to Zacks. Two analysts have issued estimates for BP Midstream Partners’ earnings. The highest sales estimate is $44.00 million and the lowest is $29.99 million. BP Midstream Partners posted sales of $27.61 million in the same quarter last year, which would indicate a positive year over year growth rate of 34%. The firm is expected to report its next earnings report on Thursday, March 28th.

According to Zacks, analysts expect that BP Midstream Partners will report full year sales of $128.20 million for the current year, with estimates ranging from $117.62 million to $134.97 million. For the next fiscal year, analysts anticipate that the firm will post sales of $198.03 million, with estimates ranging from $126.34 million to $242.74 million. Zacks’ sales averages are an average based on a survey of analysts that cover BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last released its earnings results on Wednesday, November 14th. The company reported $0.34 earnings per share (EPS) 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 firm had revenue of $32.10 million for the quarter, compared to analysts’ expectations of $27.92 million. The business’s quarterly revenue was up 18.9% on a year-over-year basis.

BPMP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded BP Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Friday, October 5th. UBS Group lifted their target price on BP Midstream Partners from $24.00 to $25.00 and gave the company a “buy” rating in a research report on Friday, August 10th. Citigroup decreased their target price on BP Midstream Partners from $21.00 to $17.00 and set a “buy” rating on the stock in a research report on Thursday, November 29th. Morgan Stanley lifted their target price on BP Midstream Partners from $22.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, August 24th. Finally, Barclays decreased their target price on BP Midstream Partners from $22.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Friday, October 12th. Two equities research 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 currently has an average rating of “Hold” and an average price target of $21.11.

Hedge funds have recently made changes to their positions in the company. Tortoise Index Solutions LLC boosted its stake in shares of BP Midstream Partners by 139.1% during the third quarter. Tortoise Index Solutions LLC now owns 8,257 shares of the company’s stock valued at $155,000 after purchasing an additional 4,804 shares in the last quarter. Commonwealth Equity Services LLC acquired a new stake in shares of BP Midstream Partners during the second quarter valued at about $236,000. Bank of New York Mellon Corp acquired a new stake in shares of BP Midstream Partners during the third quarter valued at about $263,000. Bank of America Corp DE boosted its stake in shares of 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 valued at $274,000 after purchasing an additional 4,589 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in shares of BP Midstream Partners during the second quarter valued at about $376,000. 50.20% of the stock is currently owned by hedge funds and other institutional investors.

BP Midstream Partners stock traded up $0.11 during midday trading on Friday, reaching $17.03. The company’s stock had a trading volume of 388,300 shares, compared to its average volume of 204,389. BP Midstream Partners has a 52 week low of $15.51 and a 52 week high of $23.00. The stock has a market cap of $1.77 billion, a PE ratio of 81.10, a P/E/G ratio of 1.32 and a beta of 0.62.

The company also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st were paid a dividend of $0.292 per share. This represents a $1.17 dividend on an annualized basis and a dividend yield of 6.86%. This is a positive change from BP Midstream Partners’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, October 31st. BP Midstream Partners’s dividend payout ratio (DPR) is presently 557.14%.

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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Earnings History and Estimates for BP Midstream Partners (NYSE:BPMP)

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