Mizuho Raises BP Midstream Partners (NYSE:BPMP) Price Target to $17.00

BP Midstream Partners (NYSE:BPMP) had its price target raised by Mizuho from $13.50 to $17.00 in a research note published on Wednesday, The Fly reports.

BPMP has been the subject of several other reports. Zacks Investment Research downgraded shares of BP Midstream Partners from a hold rating to a sell rating in a research note on Wednesday, December 8th. TheStreet upgraded shares of BP Midstream Partners from a c rating to a b rating in a research note on Wednesday, October 13th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, BP Midstream Partners has an average rating of Hold and an average price target of $14.81.

Shares of BPMP stock opened at $18.43 on Wednesday. The firm has a market cap of $1.93 billion, a price-to-earnings ratio of 13.16 and a beta of 1.23. The company’s 50 day moving average is $14.26 and its 200 day moving average is $13.76. The company has a quick ratio of 8.24, a current ratio of 8.24 and a debt-to-equity ratio of 1.87. BP Midstream Partners has a 52-week low of $11.01 and a 52-week high of $18.46.

BP Midstream Partners (NYSE:BPMP) last issued its quarterly earnings data on Monday, November 8th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.11). The business had revenue of $26.30 million for the quarter, compared to analysts’ expectations of $31.73 million. BP Midstream Partners had a net margin of 129.02% and a return on equity of 59.72%. Analysts anticipate that BP Midstream Partners will post 1.39 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. boosted its holdings in BP Midstream Partners by 78.0% in the 3rd quarter. Advisor Group Holdings Inc. now owns 9,359 shares of the company’s stock valued at $125,000 after purchasing an additional 4,100 shares during the last quarter. Centaurus Financial Inc. acquired a new position in shares of BP Midstream Partners in the 2nd quarter worth approximately $133,000. BNP Paribas Arbitrage SA increased its stake in BP Midstream Partners by 19.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,537 shares of the company’s stock worth $179,000 after buying an additional 2,170 shares during the period. Barclays PLC increased its stake in BP Midstream Partners by 66.3% during the 3rd quarter. Barclays PLC now owns 14,589 shares of the company’s stock worth $193,000 after buying an additional 5,814 shares during the period. Finally, Stockman Wealth Management Inc. increased its stake in BP Midstream Partners by 36.4% during the 3rd quarter. Stockman Wealth Management Inc. now owns 15,000 shares of the company’s stock worth $199,000 after buying an additional 4,000 shares during the period. 80.35% of the stock is owned by institutional investors and hedge funds.

About BP Midstream Partners

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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