Bank of Montreal Can grew its position in shares of BP Midstream Partners LP (NYSE:BPMP) by 84.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 143,949 shares of the company’s stock after acquiring an additional 65,866 shares during the quarter. Bank of Montreal Can owned about 0.14% of BP Midstream Partners worth $2,706,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baldwin Brothers Inc. MA bought a new stake in BP Midstream Partners in the second quarter worth $162,000. Commonwealth Equity Services LLC bought a new stake in BP Midstream Partners in the second quarter worth $236,000. Heronetta Management L.P. bought a new stake in BP Midstream Partners in the second quarter worth $273,000. Bank of America Corp DE lifted its position 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 worth $274,000 after buying an additional 4,589 shares during the last quarter. Finally, Citadel Advisors LLC bought a new stake in BP Midstream Partners in the second quarter worth $376,000. Hedge funds and other institutional investors own 51.23% of the company’s stock.
A number of analysts recently issued reports on BPMP shares. Zacks Investment Research downgraded BP Midstream Partners from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Mitsubishi UFJ Financial Group upgraded BP Midstream Partners from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $23.00 to $25.00 in a research report on Friday, August 10th. UBS Group raised their price target on BP Midstream Partners from $24.00 to $25.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. ValuEngine upgraded BP Midstream Partners from a “sell” rating to a “hold” rating in a research report on Monday, August 20th. Finally, Morgan Stanley raised their price target on BP Midstream Partners from $22.00 to $23.00 and gave the stock an “equal weight” rating in a research report on Friday, August 24th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $21.90.
NYSE:BPMP opened at $16.88 on Wednesday. BP Midstream Partners LP has a twelve month low of $16.83 and a twelve month high of $23.00. The firm has a market cap of $1.88 billion and a PE ratio of 80.38.
BP Midstream Partners (NYSE:BPMP) last released its earnings results on Thursday, August 9th. The company reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.03. BP Midstream Partners had a return on equity of 20.65% and a net margin of 85.62%. The business had revenue of $28.94 million during the quarter, compared to the consensus estimate of $27.40 million. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts predict that BP Midstream Partners LP will post 1.24 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 1st will be given a dividend of $0.292 per share. This represents a $1.17 annualized dividend and a dividend yield of 6.92%. This is an increase from BP Midstream Partners’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Wednesday, October 31st. BP Midstream Partners’s dividend payout ratio (DPR) is 557.14%.
BP Midstream Partners Company Profile
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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