BP Midstream Partners (NYSE:BPMP) Lowered to “Neutral” at Citigroup

BP Midstream Partners (NYSE:BPMP) was downgraded by equities researchers at Citigroup from a “buy” rating to a “neutral” rating in a research note issued to investors on Tuesday, January 9th, MarketBeat.com reports.

A number of other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of BP Midstream Partners in a research report on Monday, November 20th. They issued an “overweight” rating for the company. UBS Group assumed coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They issued a “buy” rating and a $21.00 price objective on the stock. Barclays assumed coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They issued an “equal weight” rating and a $20.00 price objective on the stock. Mitsubishi UFJ Financial Group assumed coverage on shares of BP Midstream Partners in a research note on Friday, December 15th. They issued a “neutral” rating and a $21.00 price objective on the stock. Finally, Goldman Sachs Group assumed coverage on shares of BP Midstream Partners in a research note on Monday, November 20th. They issued a “neutral” rating and a $22.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $20.75.

Shares of BP Midstream Partners (NYSE:BPMP) opened at $21.22 on Tuesday. BP Midstream Partners has a 1 year low of $16.85 and a 1 year high of $21.98. The firm has a market cap of $2,220.00 and a P/E ratio of 50.52.

In related news, insider Robert P. Zinsmeister bought 5,555 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, with a total value of $99,990.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Clive Christison bought 2,500 shares of the firm’s stock in a transaction on Monday, October 30th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $45,000.00. 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.

Analyst Recommendations for BP Midstream Partners (NYSE:BPMP)

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