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Citigroup Downgrades BP Midstream Partners (BPMP) to Sell

In a report released today, Ryan Levine from Citigroup downgraded BP Midstream Partners (BPMPResearch Report) to Sell, with a price target of $16.00. The company’s shares closed last Monday at $16.63.

According to TipRanks.com, Levine is a 4-star analyst with an average return of 14.6% and a 66.7% success rate. Levine covers the Utilities sector, focusing on stocks such as Brookfield Infrastructure, Consolidated Edison, and Centerpoint Energy.

The word on The Street in general, suggests a Moderate Sell analyst consensus rating for BP Midstream Partners with a $16.50 average price target.

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Based on BP Midstream Partners’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $26.3 million and net profit of $29.2 million. In comparison, last year the company earned revenue of $33.7 million and had a net profit of $45.3 million.

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BP Midstream Partners LP engages in the operation, development, and acquisition of pipelines and other midstream assets. Its assets includes interests in entities that own crude oil, natural gas, refined products and diluent pipelines, and refined product terminals. The company was founded on May 22, 2017 and is headquartered in Houston, TX.

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