Kayne Anderson Capital Advisors LP boosted its position in BP Midstream Partners LP (NYSE:BPMP) by 21.9% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 8,398,412 shares of the company’s stock after purchasing an additional 1,509,700 shares during the period. BP Midstream Partners comprises 2.0% of Kayne Anderson Capital Advisors LP’s holdings, making the stock its 18th largest position. Kayne Anderson Capital Advisors LP owned about 8.02% of BP Midstream Partners worth $122,610,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of BPMP. Adams Asset Advisors LLC acquired a new stake in BP Midstream Partners in the 2nd quarter valued at about $723,000. Dividend Assets Capital LLC lifted its position in BP Midstream Partners by 21.6% during the second quarter. Dividend Assets Capital LLC now owns 98,620 shares of the company’s stock worth $1,527,000 after acquiring an additional 17,550 shares during the last quarter. Moors & Cabot Inc. lifted its position in BP Midstream Partners by 47.7% during the second quarter. Moors & Cabot Inc. now owns 24,660 shares of the company’s stock worth $379,000 after acquiring an additional 7,960 shares during the last quarter. Ballentine Partners LLC acquired a new stake in BP Midstream Partners during the second quarter worth approximately $267,000. Finally, Albert D Mason Inc. lifted its position in BP Midstream Partners by 1.3% during the second quarter. Albert D Mason Inc. now owns 53,240 shares of the company’s stock worth $824,000 after acquiring an additional 670 shares during the last quarter. Institutional investors and hedge funds own 43.11% of the company’s stock.
Several equities research analysts have issued reports on BPMP shares. ValuEngine downgraded shares of BP Midstream Partners from a “hold” rating to a “sell” rating in a research report on Monday. JPMorgan Chase & Co. downgraded shares of BP Midstream Partners from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $19.00 to $17.00 in a research report on Tuesday, August 20th. Finally, Zacks Investment Research downgraded shares of BP Midstream Partners from a “hold” rating to a “strong sell” rating in a research report on Wednesday. Four research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. BP Midstream Partners currently has an average rating of “Hold” and an average price target of $18.14.
BPMP stock traded down $0.02 during mid-day trading on Friday, hitting $14.41. 155,652 shares of the company were exchanged, compared to its average volume of 256,103. The business has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $14.94. The company has a current ratio of 9.43, a quick ratio of 9.43 and a debt-to-equity ratio of 2.14. The stock has a market capitalization of $1.52 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.02 and a beta of 0.61. BP Midstream Partners LP has a 1-year low of $13.80 and a 1-year high of $17.67.
BP Midstream Partners (NYSE:BPMP) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. BP Midstream Partners had a net margin of 122.39% and a return on equity of 47.91%. The firm had revenue of $28.60 million during the quarter, compared to the consensus estimate of $31.41 million. During the same period last year, the business posted $0.29 earnings per share. The business’s revenue for the quarter was down 1.2% compared to the same quarter last year. Equities research analysts expect that BP Midstream Partners LP will post 1.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.336 per share. The ex-dividend date is Wednesday, October 30th. This is a boost from BP Midstream Partners’s previous quarterly dividend of $0.32. This represents a $1.34 annualized dividend and a dividend yield of 9.33%. BP Midstream Partners’s dividend payout ratio (DPR) is currently 105.51%.
About BP Midstream Partners
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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