BP Midstream Partners (NYSE:BPMP) was downgraded by Zacks Investment Research from a "buy" rating to a "hold" rating in a research report issued on Thursday, Zacks.com reports.
According to Zacks, "BP Midstream Partners LP is a master limited partnership. It owns, acquires, operates and develops pipelines and other midstream assets. The Company provides crude oil, natural gas and refined products. It offers an onshore crude oil, refined, and diluent pipeline systems. BP Midstream Partners LP is based in Houston, Texas. "
Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of BP Midstream Partners from $14.00 to $15.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 26th. JPMorgan Chase & Co. upgraded shares of BP Midstream Partners from a "neutral" rating to an "overweight" rating and increased their price target for the company from $14.00 to $16.00 in a research note on Tuesday, April 27th. Finally, Mizuho increased their price target on shares of BP Midstream Partners from $15.00 to $16.00 and gave the company a "buy" rating in a research note on Monday, May 10th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and an average price target of $15.40.
Shares of BP Midstream Partners stock traded down $0.11 on Thursday, hitting $14.68. The company had a trading volume of 281,620 shares, compared to its average volume of 423,245. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of 9.40, a P/E/G ratio of 1.02 and a beta of 1.27. BP Midstream Partners has a twelve month low of $9.30 and a twelve month high of $15.77. The company has a debt-to-equity ratio of 1.81, a current ratio of 15.97 and a quick ratio of 15.97. The company has a 50-day simple moving average of $14.01.
A number of hedge funds have recently added to or reduced their stakes in BPMP. Citigroup Inc. boosted its stake in shares of BP Midstream Partners by 6.9% in the 4th quarter. Citigroup Inc. now owns 2,308,304 shares of the company's stock valued at $24,468,000 after purchasing an additional 148,463 shares in the last quarter. American Financial Group Inc. boosted its position in BP Midstream Partners by 5.3% during the 1st quarter. American Financial Group Inc. now owns 40,000 shares of the company's stock worth $506,000 after buying an additional 2,000 shares during the period. Parkside Financial Bank & Trust acquired a new stake in BP Midstream Partners during the 1st quarter worth approximately $28,000. NBW Capital LLC boosted its position in BP Midstream Partners by 9.3% during the 1st quarter. NBW Capital LLC now owns 230,858 shares of the company's stock worth $2,923,000 after buying an additional 19,686 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in BP Midstream Partners by 23.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,464,422 shares of the company's stock worth $43,860,000 after purchasing an additional 659,626 shares during the last quarter. 30.94% of the stock is currently owned by hedge funds and other institutional investors.
About BP Midstream Partners
BP Midstream Partners LP owns, acquires, develops, and operates pipelines and other midstream assets in the United States. Its assets consist of interests in entities that own crude oil, natural gas, refined products, and diluent pipelines as well as refined product terminals. BP Midstream Partners GP LLC serves as a general partner of BP Midstream Partners LP.
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