BP Midstream Partners GP LLC (BPMP) Sees Significant Increase in Short Interest

BP Midstream Partners GP LLC (NYSE:BPMP) was the target of a large increase in short interest in April. As of April 30th, there was short interest totalling 1,567,039 shares, an increase of 141.9% from the April 13th total of 647,853 shares. Based on an average daily trading volume, of 325,285 shares, the days-to-cover ratio is currently 4.8 days. Currently, 3.1% of the shares of the stock are sold short.

Institutional investors and hedge funds have recently modified their holdings of the business. US Bancorp DE bought a new position in BP Midstream Partners GP in the 4th quarter valued at $136,000. Keybank National Association OH bought a new position in BP Midstream Partners GP in the 4th quarter valued at $248,000. Diversified Trust Co bought a new position in BP Midstream Partners GP in the 4th quarter valued at $253,000. Signaturefd LLC bought a new position in BP Midstream Partners GP in the 4th quarter valued at $257,000. Finally, Jefferies Group LLC bought a new stake in shares of BP Midstream Partners GP during the fourth quarter worth $411,000. Hedge funds and other institutional investors own 49.85% of the company’s stock.

Several analysts recently commented on the company. Barclays boosted their price target on BP Midstream Partners GP from $19.00 to $22.00 and gave the company an “equal weight” rating in a research note on Friday, May 11th. Zacks Investment Research raised BP Midstream Partners GP from a “strong sell” rating to a “hold” rating in a research note on Monday. Citigroup decreased their price target on BP Midstream Partners GP from $21.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, March 28th. ValuEngine lowered BP Midstream Partners GP from a “hold” rating to a “sell” rating in a research note on Friday, March 23rd. Finally, UBS boosted their price target on BP Midstream Partners GP from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Friday, March 2nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $21.13.

Shares of BP Midstream Partners GP opened at $21.37 on Friday, according to MarketBeat Ratings. BP Midstream Partners GP has a 52-week low of $20.17 and a 52-week high of $20.34. The firm has a market capitalization of $2.11 billion and a price-to-earnings ratio of 101.76.

BP Midstream Partners GP (NYSE:BPMP) last issued its quarterly earnings data on Thursday, May 10th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.03. The business had revenue of $26.60 million during the quarter, compared to the consensus estimate of $26.92 million. The company’s revenue for the quarter was up .0% on a year-over-year basis. equities research analysts expect that BP Midstream Partners GP will post 1.2 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, May 15th. Shareholders of record on Tuesday, May 1st were given a $0.268 dividend. The ex-dividend date was Monday, April 30th. This represents a $1.07 annualized dividend and a yield of 5.02%. BP Midstream Partners GP’s payout ratio is 509.52%.

BP Midstream Partners GP Company Profile

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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