Chickasaw Capital Management LLC Decreases Position in BP Midstream Partners LP (BPMP)

Chickasaw Capital Management LLC decreased its position in shares of BP Midstream Partners LP (NYSE:BPMP) by 10.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,376,240 shares of the company’s stock after selling 517,885 shares during the quarter. BP Midstream Partners accounts for approximately 2.0% of Chickasaw Capital Management LLC’s investment portfolio, making the stock its 19th largest holding. Chickasaw Capital Management LLC owned 4.18% of BP Midstream Partners worth $68,007,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. PNC Financial Services Group Inc. lifted its holdings in BP Midstream Partners by 4.9% in the third quarter. PNC Financial Services Group Inc. now owns 89,630 shares of the company’s stock valued at $1,685,000 after acquiring an additional 4,205 shares during the period. Bank of America Corp DE lifted its holdings in BP Midstream Partners by 54.1% in the second quarter. Bank of America Corp DE now owns 13,070 shares of the company’s stock valued at $274,000 after acquiring an additional 4,589 shares during the period. Tortoise Index Solutions LLC lifted its holdings in BP Midstream Partners by 139.1% in the third quarter. Tortoise Index Solutions LLC now owns 8,257 shares of the company’s stock valued at $155,000 after acquiring an additional 4,804 shares during the period. BP Capital Fund Advisors LLC lifted its holdings in BP Midstream Partners by 6.8% in the third quarter. BP Capital Fund Advisors LLC now owns 130,058 shares of the company’s stock valued at $2,445,000 after acquiring an additional 8,267 shares during the period. Finally, Heronetta Management L.P. lifted its holdings in BP Midstream Partners by 100.8% in the third quarter. Heronetta Management L.P. now owns 26,100 shares of the company’s stock valued at $491,000 after acquiring an additional 13,100 shares during the period. 50.20% of the stock is owned by institutional investors.

Shares of BPMP stock traded down $0.23 during trading hours on Friday, hitting $16.57. 164,971 shares of the company’s stock were exchanged, compared to its average volume of 188,559. BP Midstream Partners LP has a fifty-two week low of $14.26 and a fifty-two week high of $23.00. The company has a market cap of $1.82 billion, a price-to-earnings ratio of 78.90, a PEG ratio of 1.15 and a beta of 0.70.

BP Midstream Partners (NYSE:BPMP) last issued its quarterly earnings results on Wednesday, November 14th. The company reported $0.34 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $27.92 million. The firm’s revenue was up 18.9% compared to the same quarter last year. On average, research analysts forecast that BP Midstream Partners LP will post 1.28 EPS for the current year.

A number of research analysts have issued reports on BPMP shares. Zacks Investment Research downgraded BP Midstream Partners from a “buy” rating to a “hold” rating in a report on Thursday, January 3rd. ValuEngine downgraded BP Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Credit Suisse Group began coverage on BP Midstream Partners in a research note on Thursday, October 11th. They set an “underperform” rating and a $18.00 target price for the company. Bank of America downgraded BP Midstream Partners from a “neutral” rating to an “underperform” rating in a research note on Monday, December 10th. Finally, Barclays reduced their target price on BP Midstream Partners from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, October 12th. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. BP Midstream Partners presently has an average rating of “Hold” and a consensus target price of $20.89.

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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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Institutional Ownership by Quarter for BP Midstream Partners (NYSE:BPMP)

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