Cadence Capital Management LLC purchased a new stake in BP Midstream Partners LP (NYSE:BPMP) during the 4th quarter, Holdings Channel reports. The fund purchased 119,106 shares of the company’s stock, valued at approximately $2,450,000.

A number of other institutional investors have also made changes to their positions in the business. Diversified Trust Co bought a new stake in shares of BP Midstream Partners in the 4th quarter worth about $253,000. Duff & Phelps Investment Management Co. bought a new stake in shares of BP Midstream Partners in the 4th quarter worth about $12,916,000. US Bancorp DE bought a new stake in shares of BP Midstream Partners in the 4th quarter worth about $136,000. Finally, American Century Companies Inc. bought a new stake in shares of BP Midstream Partners in the 4th quarter worth about $16,475,000. 5.45% of the stock is currently owned by hedge funds and other institutional investors.

Several equities research analysts have recently weighed in on BPMP shares. Bank of America started coverage on shares of BP Midstream Partners in a report on Friday, January 12th. They issued a “neutral” rating and a $22.00 target price on the stock. Credit Suisse Group assumed coverage on shares of BP Midstream Partners in a report on Thursday, January 4th. They issued a “neutral” rating and a $19.00 target price on the stock. UBS Group assumed coverage on shares of BP Midstream Partners in a research report on Monday, November 20th. They set a “buy” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. assumed coverage on shares of BP Midstream Partners in a research report on Monday, November 20th. They set an “overweight” rating on the stock. Finally, Mitsubishi UFJ Financial Group assumed coverage on shares of BP Midstream Partners in a research report on Friday, December 15th. They set a “neutral” rating and a $21.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $20.75.

BP Midstream Partners LP (NYSE BPMP) opened at $19.60 on Friday. BP Midstream Partners LP has a 52-week low of $16.85 and a 52-week high of $23.00.

The business also recently declared a special dividend, which will be paid on Thursday, February 15th. Investors of record on Thursday, February 1st will be given a dividend of $0.1798 per share. The ex-dividend date of this dividend is Wednesday, January 31st. This represents a yield of 0.00841573033707865%.

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BP Midstream Partners Company Profile

BP Midstream Partners LP is a master limited partnership formed by BP Pipelines (North America) Inc The Company owns, operates, develops and acquires pipelines and other midstream assets. It owns one onshore crude oil pipeline system, one onshore refined products pipeline system, one onshore diluent pipeline system, interests in four offshore crude oil pipeline systems and an interest in one offshore natural gas pipeline system.

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

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