BP Midstream Partners LP (BPMP) Expected to Post Quarterly Sales of $33.71 Million

Wall Street brokerages expect BP Midstream Partners LP (NYSE:BPMP) to report $33.71 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for BP Midstream Partners’ earnings. The lowest sales estimate is $33.42 million and the highest is $34.00 million. BP Midstream Partners reported sales of $28.94 million in the same quarter last year, which would suggest a positive year over year growth rate of 16.5%. The business is scheduled to report its next earnings results on Thursday, August 8th.

According to Zacks, analysts expect that BP Midstream Partners will report full-year sales of $132.66 million for the current year, with estimates ranging from $131.32 million to $134.00 million. For the next year, analysts forecast that the firm will post sales of $160.92 million, with estimates ranging from $135.83 million to $186.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for BP Midstream Partners.

BP Midstream Partners (NYSE:BPMP) last released its earnings results on Thursday, May 9th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. BP Midstream Partners had a net margin of 116.33% and a return on equity of 34.99%. The firm had revenue of $30.20 million during the quarter, compared to analyst estimates of $31.02 million. During the same quarter in the previous year, the business earned $0.29 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year.

Several research analysts have recently weighed in on the stock. Mizuho assumed coverage on shares of BP Midstream Partners in a research note on Wednesday. They set a “buy” rating and a $19.00 price objective on the stock. Zacks Investment Research upgraded shares of BP Midstream Partners from a “strong sell” rating to a “hold” rating in a research report on Friday, March 15th. Finally, Credit Suisse Group decreased their price target on shares of BP Midstream Partners from $17.00 to $15.00 and set an “underperform” rating for the company in a research report on Friday, March 8th. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $20.50.

In other news, insider Craig Coburn acquired 2,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was bought at an average cost of $14.75 per share, for a total transaction of $29,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

A number of large investors have recently bought and sold shares of the business. Northern Trust Corp grew its holdings in BP Midstream Partners by 1.3% in the first quarter. Northern Trust Corp now owns 62,955 shares of the company’s stock worth $911,000 after purchasing an additional 780 shares during the period. Lindbrook Capital LLC lifted its stake in shares of BP Midstream Partners by 138.2% in the first quarter. Lindbrook Capital LLC now owns 1,810 shares of the company’s stock valued at $26,000 after buying an additional 1,050 shares in the last quarter. Moors & Cabot Inc. lifted its stake in shares of BP Midstream Partners by 10.6% in the first quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock valued at $238,000 after buying an additional 1,600 shares in the last quarter. Keybank National Association OH lifted its stake in shares of BP Midstream Partners by 17.1% in the fourth quarter. Keybank National Association OH now owns 14,485 shares of the company’s stock valued at $225,000 after buying an additional 2,110 shares in the last quarter. Finally, Alps Advisors Inc. lifted its stake in shares of BP Midstream Partners by 20.4% in the first quarter. Alps Advisors Inc. now owns 12,543 shares of the company’s stock valued at $181,000 after buying an additional 2,125 shares in the last quarter. Institutional investors and hedge funds own 45.71% of the company’s stock.

NYSE:BPMP traded up $0.24 on Monday, hitting $14.57. 11,942 shares of the company’s stock were exchanged, compared to its average volume of 211,616. The company has a debt-to-equity ratio of 2.17, a current ratio of 13.47 and a quick ratio of 13.47. BP Midstream Partners has a 52 week low of $13.80 and a 52 week high of $22.98. The stock has a market capitalization of $1.52 billion, a PE ratio of 11.51, a price-to-earnings-growth ratio of 1.03 and a beta of 0.51.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a $0.313 dividend. This is a boost from BP Midstream Partners’s previous quarterly dividend of $0.30. This represents a $1.25 annualized dividend and a yield of 8.59%. The ex-dividend date was Tuesday, April 30th. BP Midstream Partners’s dividend payout ratio is 98.43%.

BP Midstream Partners Company Profile

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

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