BP Midstream Partners LP (BPMP)
$9.87 0.27 (2.66%)
19:00 EDT BPMP Stock Quote Delayed 30 Minutes
Previous Close $9.87
Market Cap 516.95M
PE Ratio 25.84
Volume (Avg. Vol.) 226,786
Day's Range 9.87 - 10.37
52-Week Range 6.41 - 17.08
Dividend & Yield 1.01 (10.26%)
BPMP Stock Predictions, Articles, and BP Midstream Partners LP News
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From Seeking Alpha
BP Midstream Partners (BPMP +0.7%) and Holly Energy Partners (HEP +0.8%) edge higher after J.P. Morgan upgrades shares, seeing favorable outlooks for these steady logistics assets, helped by refined product demand gradually recovering into 2021.JPM analyst Joseph Martoglio raises BPMP to Neutral from Underweight with a $14 price target, up from $13, and Holly Energy Partners to Overweight from Underweight with a $20 target, lifted from $17.Martoglio believes BPMP's impressive financial flexibility and stable cash flows offset corporate governance risks, particularly given its current modest IDR take below 5% of distributions.On Holly Partners, its distribution reduction provides greater distribution security and a clearer path to reducing leverage over time, which Martoglio says could lead to a positive re-rating as HEP currently trades at less than 8x estimated 2022 EV/EBITDA despite highly stable cash flows and a visible path to achieving 3.5x leverage by the early 2022, allowing distribution growth thereafter.JPM also maintains Underweight ratings for NuStar Energy (NS -1.8%) and Shell Midstream Partners (SHLX +1%).For both BPMP and HEP, their average Wall Street analyst rating and Seeking Alpha Authors' Rating are Bullish (I, II)..
From Seeking Alpha
BP Midstream Partners (BPMP +4.6%) is on the rise after Q2 earnings topped estimates and pipeline revenues jumped 10% Y/Y despite lower volumes, as it clamped down on expenses.Q2 volumes on BPMP's pipelines, which include the BP2 crude oil pipeline and the River Rouge refiner products line that connect to BP's Whiting refinery in Indiana, fell ~10% as efforts to curb the spread of COVID-19 cut fuel demand.Q2 volumes on offshore pipelines, including the 400K bbl/day Mars crude oil pipeline off the Louisiana coast, fell 8%; the partnership says it still plans to expand the Mars system starting next year."The impact of COVID-19 and broader market volatility on pipeline throughput was much more apparent across our portfolio" in Q2 than in Q1 amid an environment of significant product demand destruction, CFO Craig Coburn said on today's earnings conference call, while adding that activity has been picking up in the current quarter.
From Analyst Ratings
Barclays analyst Theresa Chen maintained a Hold rating on BP Midstream Partners (BPMP – Research Report) yesterday and set a price target of $12.00. The company’s shares closed last Friday at $11.29. According to TipRanks.com, Chen is a 1-star analyst with an average return of -3.2% and a 52.2% success rate. Chen covers the Services
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