Spirit of America Management Corp NY lowered its position in BP Midstream Partners LP (NYSE:BPMP) by 9.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 162,296 shares of the company’s stock after selling 17,000 shares during the quarter. Spirit of America Management Corp NY owned approximately 0.15% of BP Midstream Partners worth $2,348,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of BPMP. Bank of New York Mellon Corp purchased a new position in BP Midstream Partners in the third quarter worth approximately $263,000. BlackRock Inc. lifted its position in shares of BP Midstream Partners by 4.8% during the 3rd quarter. BlackRock Inc. now owns 618,540 shares of the company’s stock worth $11,628,000 after buying an additional 28,432 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of BP Midstream Partners by 1.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,689,035 shares of the company’s stock worth $31,754,000 after buying an additional 28,218 shares during the last quarter. Renaissance Technologies LLC purchased a new stake in shares of BP Midstream Partners during the 3rd quarter worth approximately $1,372,000. Finally, Jane Street Group LLC purchased a new stake in shares of BP Midstream Partners during the 3rd quarter worth approximately $1,345,000. Institutional investors own 47.88% of the company’s stock.
BPMP traded up $0.03 during trading on Wednesday, hitting $15.11. The stock had a trading volume of 3,049 shares, compared to its average volume of 293,034. The company has a debt-to-equity ratio of 2.22, a quick ratio of 6.50 and a current ratio of 6.50. The stock has a market capitalization of $1.58 billion, a P/E ratio of 11.83, a P/E/G ratio of 1.09 and a beta of 0.62. BP Midstream Partners LP has a twelve month low of $14.13 and a twelve month high of $22.98.
BP Midstream Partners (NYSE:BPMP) last posted its quarterly earnings results on Thursday, February 28th. The company reported $0.35 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.35. BP Midstream Partners had a net margin of 114.27% and a return on equity of 27.07%. The business had revenue of $28.81 million for the quarter, compared to analysts’ expectations of $37.00 million. Sell-side analysts predict that BP Midstream Partners LP will post 1.4 EPS for the current year.
In related news, insider Craig Coburn purchased 2,000 shares of the stock in a transaction dated Monday, March 18th. The shares were acquired at an average cost of $14.75 per share, with a total value of $29,500.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.
BPMP has been the topic of a number of recent research reports. Zacks Investment Research raised shares of BP Midstream Partners from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a report on Tuesday, January 1st. TheStreet cut shares of BP Midstream Partners from a “c-” rating to a “d+” rating in a report on Friday, December 28th. Finally, Credit Suisse Group cut their target price on shares of BP Midstream Partners from $17.00 to $15.00 and set an “underperform” rating on the stock in a report on Friday, March 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. BP Midstream Partners has an average rating of “Hold” and a consensus target price of $20.56.
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About BP Midstream Partners
BP Midstream Partners LP owns, acquires, develops, and operates pipelines and other midstream assets in the United States. It owns an onshore crude oil pipeline system, onshore refined products pipeline system, onshore diluent pipeline system, refined product terminalling system, and offshore natural gas pipeline system, as well as interests in five offshore crude oil pipeline systems.
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