Equities analysts forecast that BP Midstream Partners LP (NYSE:BPMP) will announce earnings per share of $0.37 for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for BP Midstream Partners’ earnings. The highest EPS estimate is $0.41 and the lowest is $0.33. BP Midstream Partners posted earnings of $0.21 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 76.2%. The business is expected to announce its next quarterly earnings report on Thursday, March 28th.

On average, analysts expect that BP Midstream Partners will report full year earnings of $1.28 per share for the current fiscal year, with EPS estimates ranging from $1.25 to $1.33. For the next fiscal year, analysts forecast that the firm will post earnings of $1.51 per share, with EPS estimates ranging from $1.38 to $1.80. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last released its earnings results on Wednesday, November 14th. The company reported $0.34 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. The company had revenue of $32.10 million during the quarter, compared to analysts’ expectations of $27.92 million. BP Midstream Partners had a return on equity of 20.20% and a net margin of 102.40%. The company’s revenue was up 18.9% on a year-over-year basis.

A number of research analysts have recently commented on BPMP shares. ValuEngine cut BP Midstream Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, November 6th. Credit Suisse Group started coverage on BP Midstream Partners in a research note on Thursday, October 11th. They issued an “underperform” rating and a $18.00 target price for the company. Zacks Investment Research upgraded BP Midstream Partners from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Friday, October 5th. Barclays lowered their price objective on BP Midstream Partners from $22.00 to $21.00 and set an “equal weight” rating for the company in a research note on Friday, October 12th. Finally, Bank of America lowered their price objective on BP Midstream Partners from $22.00 to $21.00 and set a “neutral” rating for the company in a research note on Friday, October 5th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $21.11.

Shares of BPMP traded up $0.11 on Thursday, reaching $17.03. The stock had a trading volume of 388,300 shares, compared to its average volume of 204,389. The stock has a market cap of $1.77 billion, a PE ratio of 81.10, a PEG ratio of 1.32 and a beta of 0.62. BP Midstream Partners has a 12-month low of $15.51 and a 12-month high of $23.00.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 1st were paid a dividend of $0.292 per share. This is a boost from BP Midstream Partners’s previous quarterly dividend of $0.27. The ex-dividend date was Wednesday, October 31st. This represents a $1.17 dividend on an annualized basis and a yield of 6.86%. BP Midstream Partners’s payout ratio is presently 557.14%.

A number of large investors have recently made changes to their positions in the business. Clearbridge Investments LLC raised its stake in BP Midstream Partners by 5.1% during the third quarter. Clearbridge Investments LLC now owns 4,081,751 shares of the company’s stock valued at $76,737,000 after buying an additional 198,110 shares during the last quarter. MetLife Investment Advisors LLC purchased a new position in BP Midstream Partners during the third quarter valued at $2,025,000. Virtus Alternative Investment Advisers Inc. purchased a new position in BP Midstream Partners during the third quarter valued at $2,508,000. Jane Street Group LLC purchased a new position in BP Midstream Partners during the third quarter valued at $1,345,000. Finally, Virtus ETF Advisers LLC purchased a new position in BP Midstream Partners during the third quarter valued at $28,132,000. Institutional investors and hedge funds own 50.20% of the company’s stock.

About BP Midstream Partners

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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Earnings History and Estimates for BP Midstream Partners (NYSE:BPMP)

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