BP Midstream Partners LP Announces Special Dividend of $0.18 (BPMP)

BP Midstream Partners LP (NYSE:BPMP) announced a special dividend on Friday, January 19th, Wall Street Journal reports. Shareholders of record on Thursday, February 1st will be given a dividend of 0.1798 per share on Thursday, February 15th. This represents a yield of 0.00841573033707865%. The ex-dividend date is Wednesday, January 31st.

BP Midstream Partners (NYSE BPMP) traded up $0.45 during midday trading on Friday, reaching $21.81. 359,406 shares of the company’s stock traded hands, compared to its average volume of 295,762. BP Midstream Partners has a fifty-two week low of $16.85 and a fifty-two week high of $22.16. The stock has a market cap of $2,280.00 and a PE ratio of 51.93.

In other BP Midstream Partners news, Director Clive Christison bought 2,500 shares of BP Midstream Partners stock in a transaction that occurred on Monday, October 30th. The shares were bought at an average price of $18.00 per share, with a total value of $45,000.00. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Robert P. Zinsmeister bought 5,555 shares of BP Midstream Partners stock in a transaction that occurred on Monday, October 30th. The shares were 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.

BPMP has been the topic of several recent analyst reports. JPMorgan Chase & Co. initiated coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They issued an “overweight” rating on the stock. Barclays initiated coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They issued an “equal weight” rating and a $20.00 target price on the stock. Citigroup initiated coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They issued a “buy” rating and a $21.00 target price on the stock. Goldman Sachs Group initiated coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They issued a “neutral” rating and a $22.00 target price on the stock. Finally, Morgan Stanley initiated coverage on shares of BP Midstream Partners in a report on Monday, November 20th. They issued an “equal weight” rating and a $20.00 price target on the stock. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.75.

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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.

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