BP Midstream Partners (BPMP) Now Covered by Analysts at Bank of America

Research analysts at Bank of America started coverage on shares of BP Midstream Partners (NYSE:BPMP) in a research note issued to investors on Friday. The brokerage set a “neutral” rating and a $22.00 price target on the stock. Bank of America’s target price indicates a potential upside of 3.68% from the company’s previous close.

A number of other research analysts have also recently weighed in on BPMP. JPMorgan Chase & Co. assumed coverage on BP Midstream Partners in a research report on Monday, November 20th. They set an “overweight” rating on the stock. Barclays assumed coverage on BP Midstream Partners in a research report on Monday, November 20th. They set an “equal weight” rating and a $20.00 price objective on the stock. Citigroup assumed coverage on BP Midstream Partners in a research report on Monday, November 20th. They set a “buy” rating and a $21.00 price objective on the stock. Goldman Sachs Group assumed coverage on BP Midstream Partners in a research report on Monday, November 20th. They set a “neutral” rating and a $22.00 price objective on the stock. Finally, Morgan Stanley assumed coverage on BP Midstream Partners in a research report on Monday, November 20th. They set an “equal weight” rating and a $20.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $20.75.

Shares of BP Midstream Partners (NYSE BPMP) traded up $0.11 during trading hours on Friday, reaching $21.22. The company’s stock had a trading volume of 101,324 shares, compared to its average volume of 302,900. BP Midstream Partners has a fifty-two week low of $16.85 and a fifty-two week high of $21.98.

In other BP Midstream Partners news, Director Clive Christison purchased 2,500 shares of the stock in a transaction that occurred on Monday, October 30th. The shares were bought at an average cost of $18.00 per share, with a total value of $45,000.00. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Robert P. Zinsmeister purchased 5,555 shares of the stock in a transaction that occurred on Monday, October 30th. The stock was acquired at an average cost of $18.00 per share, for a total transaction of $99,990.00. The disclosure for this purchase can be found here.

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About BP Midstream Partners

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.