BP Midstream Partners (NYSE:BPMP) Sees Strong Trading Volume

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BP Midstream Partners LP (NYSE:BPMP) shares saw an uptick in trading volume on Monday . 50,939 shares were traded during mid-day trading, a decline of 89% from the previous session’s volume of 450,287 shares.The stock last traded at $14.36 and had previously closed at $12.91.

Several research firms recently commented on BPMP. TheStreet upgraded BP Midstream Partners from a “c” rating to a “b” rating in a research note on Wednesday, October 13th. Zacks Investment Research cut BP Midstream Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, December 8th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $14.31.

The company has a debt-to-equity ratio of 1.87, a current ratio of 8.24 and a quick ratio of 8.24. The stock has a market capitalization of $1.59 billion, a P/E ratio of 10.81 and a beta of 1.20. The company has a fifty day moving average of $13.20 and a two-hundred day moving average of $13.55.

BP Midstream Partners (NYSE:BPMP) last announced its quarterly earnings data on Monday, November 8th. The company reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.11). BP Midstream Partners had a net margin of 129.02% and a return on equity of 59.72%. As a group, equities research analysts predict that BP Midstream Partners LP will post 1.39 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 11th. Investors of record on Thursday, October 28th were issued a $0.347 dividend. This represents a $1.39 annualized dividend and a yield of 9.17%. The ex-dividend date was Wednesday, October 27th. BP Midstream Partners’s dividend payout ratio is currently 99.29%.

A number of institutional investors have recently made changes to their positions in the stock. Morgan Stanley increased its holdings in BP Midstream Partners by 348.0% in the third quarter. Morgan Stanley now owns 9,228,568 shares of the company’s stock valued at $122,279,000 after buying an additional 7,168,532 shares during the last quarter. Infrastructure Capital Advisors LLC grew its holdings in shares of BP Midstream Partners by 19.5% during the second quarter. Infrastructure Capital Advisors LLC now owns 1,542,613 shares of the company’s stock valued at $22,337,000 after purchasing an additional 251,547 shares during the last quarter. First Trust Advisors LP bought a new position in shares of BP Midstream Partners during the second quarter valued at approximately $16,276,000. Goldman Sachs Group Inc. grew its holdings in shares of BP Midstream Partners by 9.4% during the third quarter. Goldman Sachs Group Inc. now owns 780,915 shares of the company’s stock valued at $10,347,000 after purchasing an additional 67,030 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of BP Midstream Partners by 546.1% during the second quarter. Deutsche Bank AG now owns 360,480 shares of the company’s stock valued at $5,220,000 after purchasing an additional 304,684 shares during the last quarter. 83.02% of the stock is owned by hedge funds and other institutional investors.

BP Midstream Partners Company Profile (NYSE:BPMP)

BP Midstream Partners LP engages in the operation, development, and acquisition of pipelines and other midstream assets. Its assets consist of interests in entities that own crude oil, natural gas, refined products and diluent pipelines, and refined product terminals. The company was founded on May 22, 2017 and is headquartered in Houston, TX.

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