BP Midstream Partners (NYSE:BPMP) had its price objective trimmed by Bank of America from $22.00 to $21.00 in a research note published on Friday. The brokerage currently has a neutral rating on the stock.
BPMP has been the subject of several other reports. Zacks Investment Research downgraded shares of BP Midstream Partners from a buy rating to a hold rating in a report on Tuesday, August 14th. UBS Group upped their price objective on shares of BP Midstream Partners from $24.00 to $25.00 and gave the stock a buy rating in a report on Friday, August 10th. ValuEngine raised shares of BP Midstream Partners from a sell rating to a hold rating in a report on Monday, August 20th. Morgan Stanley upped their price objective 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. Finally, JPMorgan Chase & Co. decreased their price objective on shares of BP Midstream Partners from $25.00 to $24.00 and set an overweight rating for the company in a report on Friday, August 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $22.20.
NYSE BPMP opened at $19.32 on Friday. The firm has a market cap of $1.97 billion and a P/E ratio of 92.00. BP Midstream Partners has a 1 year low of $16.83 and a 1 year high of $23.00.
A number of institutional investors have recently modified their holdings of the business. Tortoise Capital Advisors L.L.C. boosted its holdings in BP Midstream Partners by 1.1% in the 2nd quarter. Tortoise Capital Advisors L.L.C. now owns 7,064,549 shares of the company’s stock valued at $148,285,000 after purchasing an additional 77,585 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in BP Midstream Partners in the 2nd quarter valued at $36,447,000. ING Groep NV bought a new stake in BP Midstream Partners in the 2nd quarter valued at $35,683,000. BlackRock Inc. boosted its holdings in BP Midstream Partners by 0.6% in the 1st quarter. BlackRock Inc. now owns 754,632 shares of the company’s stock valued at $13,463,000 after purchasing an additional 4,632 shares during the period. Finally, Summit Trail Advisors LLC boosted its holdings in BP Midstream Partners by 1,206.8% in the 1st quarter. Summit Trail Advisors LLC now owns 683,758 shares of the company’s stock valued at $684,000 after purchasing an additional 631,434 shares during the period. 51.26% of the stock is owned by hedge funds and other 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.
Recommended Story: Diversification in Investing
Receive News & Ratings for BP Midstream Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BP Midstream Partners and related companies with MarketBeat.com's FREE daily email newsletter.