BP Midstream Partners LP (BPMP) Receives a Hold from Morgan Stanley
Morgan Stanley analyst Tom Abrams maintained a Hold rating on BP Midstream Partners LP (BPMP) today and set a price target of $22. The company’s shares closed yesterday at $16.69, close to its 52-week low of $15.51.
According to TipRanks.com, Abrams is a 1-star analyst with an average return of -2.5% and a 48.1% success rate. Abrams covers the Basic Materials sector, focusing on stocks such as Dcp Midstream Partners Lp, EnLink Midstream Partners, and Phillips 66 Partners.
Currently, the analyst consensus on BP Midstream Partners LP is a Hold with an average price target of $22.
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Based on BP Midstream Partners LP’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $35.22 million. In comparison, last year the company had a net profit of $11.55 million.
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BP Midstream Partners LP is a limited partnership company which was formed to own, operate, develop and acquire pipelines and other midstream assets. It involves in the operation of onshore crude oil pipeline systems including onshore refined products pipeline system; onshore diluent pipeline system; interests in four offshore crude oil pipeline systems; and an interest in one offshore natural gas pipeline system. The company was founded on May 22, 2017 and is headquartered in Houston, TX.