Tortoise Capital Advisors L.L.C. boosted its position in shares of BP Midstream Partners LP (NYSE:BPMP) by 7.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,595,026 shares of the company’s stock after buying an additional 430,145 shares during the quarter. BP Midstream Partners makes up about 0.7% of Tortoise Capital Advisors L.L.C.’s holdings, making the stock its 26th biggest holding. Tortoise Capital Advisors L.L.C. owned about 6.30% of BP Midstream Partners worth $102,091,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Bank of Montreal Can raised its holdings in BP Midstream Partners by 26.4% in the 1st quarter. Bank of Montreal Can now owns 64,632 shares of the company’s stock worth $935,000 after purchasing an additional 13,504 shares in the last quarter. Moors & Cabot Inc. raised its holdings in BP Midstream Partners by 10.6% in the 1st quarter. Moors & Cabot Inc. now owns 16,700 shares of the company’s stock worth $238,000 after purchasing an additional 1,600 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in BP Midstream Partners by 108.3% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 92,500 shares of the company’s stock worth $1,338,000 after purchasing an additional 48,100 shares in the last quarter. American Financial Group Inc. bought a new position in BP Midstream Partners in the 1st quarter worth $318,000. Finally, Icon Wealth Partners LLC bought a new position in BP Midstream Partners in the 1st quarter worth $39,000. Institutional investors own 43.86% of the company’s stock.

Shares of BP Midstream Partners stock traded down $0.06 during trading on Friday, hitting $15.19. The company’s stock had a trading volume of 430,279 shares, compared to its average volume of 281,811. The company has a debt-to-equity ratio of 2.14, a quick ratio of 9.43 and a current ratio of 9.43. The company has a fifty day simple moving average of $14.75 and a two-hundred day simple moving average of $15.00. The company has a market capitalization of $1.59 billion, a PE ratio of 11.96, a P/E/G ratio of 1.04 and a beta of 0.61. BP Midstream Partners LP has a 52 week low of $13.80 and a 52 week high of $19.58.

BP Midstream Partners (NYSE:BPMP) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.02. The company had revenue of $28.60 million during the quarter, compared to analyst estimates of $31.41 million. BP Midstream Partners had a net margin of 122.39% and a return on equity of 47.91%. BP Midstream Partners’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. As a group, analysts predict that BP Midstream Partners LP will post 1.44 EPS for the current year.

Several brokerages have commented on BPMP. JPMorgan Chase & Co. lowered shares of BP Midstream Partners from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $19.00 to $17.00 in a report on Tuesday, August 20th. Mizuho began coverage on shares of BP Midstream Partners in a report on Wednesday, June 5th. They issued a “buy” rating and a $19.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of BP Midstream Partners from a “hold” rating to a “buy” rating and set a $17.00 price objective for the company in a report on Monday, August 12th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

About BP Midstream Partners

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.

Further Reading: What is Cost of Goods Sold (COGS)?

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Institutional Ownership by Quarter for BP Midstream Partners (NYSE:BPMP)

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