Short Interest in BP Midstream Partners LP (NYSE:BPMP) Expands By 7.4%

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BP Midstream Partners LP (NYSE:BPMP) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 675,500 shares, a growth of 7.4% from the May 15th total of 629,100 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 311,100 shares, the short-interest ratio is currently 2.2 days.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Lindbrook Capital LLC lifted its stake in shares of BP Midstream Partners by 138.2% in the 1st quarter. Lindbrook Capital LLC now owns 1,810 shares of the company’s stock valued at $26,000 after acquiring an additional 1,050 shares during the last quarter. Moors & Cabot Inc. increased its holdings in BP Midstream Partners by 10.6% in the first quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock valued at $238,000 after purchasing an additional 1,600 shares during the period. Alps Advisors Inc. increased its holdings in BP Midstream Partners by 20.4% in the first quarter. Alps Advisors Inc. now owns 12,543 shares of the company’s stock valued at $181,000 after purchasing an additional 2,125 shares during the period. Icon Wealth Partners LLC acquired a new stake in BP Midstream Partners in the first quarter valued at $39,000. Finally, Northern Trust Corp increased its holdings in BP Midstream Partners by 4.9% in the fourth quarter. Northern Trust Corp now owns 62,175 shares of the company’s stock valued at $966,000 after purchasing an additional 2,905 shares during the period. Institutional investors own 45.71% of the company’s stock.

A number of brokerages have weighed in on BPMP. Zacks Investment Research downgraded Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Mizuho set a $71.00 price target on CVS Health and gave the stock a “buy” rating in a research report on Wednesday, June 5th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $20.50.

Shares of NYSE:BPMP opened at $16.08 on Friday. The business’s 50 day moving average is $15.15. The company has a quick ratio of 13.47, a current ratio of 13.47 and a debt-to-equity ratio of 2.17. BP Midstream Partners has a 1 year low of $13.80 and a 1 year high of $22.36. The firm has a market capitalization of $1.68 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.16 and a beta of 0.56.

BP Midstream Partners (NYSE:BPMP) last released its earnings results on Thursday, May 9th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. BP Midstream Partners had a return on equity of 34.99% and a net margin of 116.33%. The firm had revenue of $30.20 million during the quarter, compared to analysts’ expectations of $31.02 million. During the same period in the prior year, the company earned $0.29 earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. Sell-side analysts predict that BP Midstream Partners will post 1.39 EPS for the current fiscal year.

BP Midstream Partners Company Profile

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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