Credit Suisse Group Begins Coverage on BP Midstream Partners (BPMP)

Investment analysts at Credit Suisse Group began coverage on shares of BP Midstream Partners (NYSE:BPMP) in a report issued on Thursday, Marketbeat reports. The brokerage set a “neutral” rating and a $19.00 price target on the stock. Credit Suisse Group’s price objective indicates a potential downside of 10.67% from the company’s current price.

A number of other equities analysts have also issued reports on BPMP. Morgan Stanley began coverage on shares of BP Midstream Partners in a research report on Monday, November 20th. They set an “equal weight” rating and a $20.00 target price on the stock. Goldman Sachs Group began coverage on shares of BP Midstream Partners in a research report on Monday, November 20th. They set a “neutral” rating and a $22.00 target price on the stock. Mitsubishi UFJ Financial Group initiated coverage on shares of BP Midstream Partners in a research report on Friday, December 15th. They set a “neutral” rating and a $21.00 target price on the stock. Barclays initiated coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They set an “equal weight” rating and a $20.00 price target on the stock. Finally, UBS Group initiated coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They set a “buy” rating and a $21.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $20.57.

Shares of BP Midstream Partners (NYSE:BPMP) traded down $0.59 during mid-day trading on Thursday, reaching $21.27. 298,685 shares of the company were exchanged, compared to its average volume of 298,956. 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 firm’s stock in a transaction on Monday, October 30th. The shares were purchased at an average price of $18.00 per share, for a total transaction of $45,000.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Robert P. Zinsmeister bought 5,555 shares of BP Midstream Partners stock in a transaction dated Monday, October 30th. The stock was purchased at an average price 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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BP Midstream Partners Company Profile

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.