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BP Midstream Partners

DB:301
Snowflake Description

Undervalued with acceptable track record.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
301
DB
$864M
Market Cap
  1. Home
  2. DE
  3. Energy
Company description

BP Midstream Partners LP owns, acquires, develops, and operates pipelines and other midstream assets in the United States. The last earnings update was 33 days ago. More info.


Add to Portfolio Compare Print
  • BP Midstream Partners is a fund or ETF! Currently our data availability for these is poor, we only recommend using them as part of a portfolio.
  • BP Midstream Partners has significant price volatility in the past 3 months.
301 Share Price and Events
7 Day Returns
-0.3%
DB:301
18.1%
DE Oil and Gas
7.3%
DE Market
1 Year Returns
-41.8%
DB:301
21.9%
DE Oil and Gas
-17.7%
DE Market
301 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
BP Midstream Partners (301) -0.3% -32.6% -46.2% -41.8% - -
DE Oil and Gas 18.1% -15.9% -28.7% 21.9% -25.6% 137.4%
DE Market 7.3% -17.9% -25.8% -17.7% -25.6% -29%
1 Year Return vs Industry and Market
  • 301 underperformed the Oil and Gas industry which returned 21.9% over the past year.
  • 301 underperformed the Market in Germany which returned -17.7% over the past year.
Price Volatility
301
Industry
5yr Volatility vs Market

Value

 Is BP Midstream Partners undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of BP Midstream Partners to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for BP Midstream Partners.

DB:301 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 4 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 5.6%
Perpetual Growth Rate 10-Year DE Government Bond Rate -0.4%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:301
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate -0.4%
Equity Risk Premium S&P Global 5.4%
Oil and Gas Unlevered Beta Simply Wall St/ S&P Global 0.81
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.808 (1 + (1- 21%) (54.2%))
1.103
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.1
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= -0.39% + (1.103 * 5.44%)
5.61%

Discounted Cash Flow Calculation for DB:301 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for BP Midstream Partners is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

DB:301 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (USD, Millions) Source Present Value
Discounted (@ 5.61%)
2020 197.65 Est @ 5.39% 187.15
2021 204.88 Est @ 3.66% 183.69
2022 209.89 Est @ 2.44% 178.18
2023 213.23 Est @ 1.59% 171.40
2024 215.36 Est @ 1% 163.91
2025 216.62 Est @ 0.58% 156.11
2026 217.25 Est @ 0.29% 148.24
2027 217.43 Est @ 0.09% 140.49
2028 217.31 Est @ -0.06% 132.95
2029 216.97 Est @ -0.16% 125.69
Present value of next 10 years cash flows $1,587.00
DB:301 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= $216.97 × (1 + -0.39%) ÷ (5.61% – -0.39%)
$3,601.21
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= $3,601.21 ÷ (1 + 5.61%)10
$2,086.11
DB:301 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= $1,587.00 + $2,086.11
$3,673.11
Equity Value per Share
(USD)
= Total value / Shares Outstanding
= $3,673.11 / 104.76
$35.06
DB:301 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:301 represents 0.90424x of NYSE:BPMP
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.90424x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 35.06 x 0.90424
€31.70
Value per share (EUR) From above. €31.70
Current discount Discount to share price of €7.46
= -1 x (€7.46 - €31.70) / €31.70
76.5%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price BP Midstream Partners is available for.
Intrinsic value
>50%
Share price is €7.46 vs Future cash flow value of €31.7
Current Discount Checks
For BP Midstream Partners to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • BP Midstream Partners's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • BP Midstream Partners's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for BP Midstream Partners's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are BP Midstream Partners's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:301 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-12-31) in USD $1.58
NYSE:BPMP Share Price ** NYSE (2020-03-30) in USD $8.25
Europe Oil and Gas Industry PE Ratio Median Figure of 105 Publicly-Listed Oil and Gas Companies 5.67x
Germany Market PE Ratio Median Figure of 400 Publicly-Listed Companies 16.36x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of BP Midstream Partners.

DB:301 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NYSE:BPMP Share Price ÷ EPS (both in USD)

= 8.25 ÷ 1.58

5.23x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BP Midstream Partners is good value based on earnings compared to the Europe Oil and Gas industry average.
  • BP Midstream Partners is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does BP Midstream Partners's expected growth come at a high price?
Raw Data
DB:301 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 5.23x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts
7.1%per year
Europe Oil and Gas Industry PEG Ratio Median Figure of 65 Publicly-Listed Oil and Gas Companies 0.17x
Germany Market PEG Ratio Median Figure of 254 Publicly-Listed Companies 1.2x

*Line of best fit is calculated by linear regression .

DB:301 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 5.23x ÷ 7.1%

0.74x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BP Midstream Partners is good value based on expected growth next year.
Price based on value of assets
What value do investors place on BP Midstream Partners's assets?
Raw Data
DB:301 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-12-31) in USD $0.97
NYSE:BPMP Share Price * NYSE (2020-03-30) in USD $8.25
Germany Oil and Gas Industry PB Ratio Median Figure of 6 Publicly-Listed Oil and Gas Companies 0.94x
Germany Market PB Ratio Median Figure of 574 Publicly-Listed Companies 1.43x
DB:301 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NYSE:BPMP Share Price ÷ Book Value per Share (both in USD)

= 8.25 ÷ 0.97

8.47x

* Primary Listing of BP Midstream Partners.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • BP Midstream Partners is overvalued based on assets compared to the DE Oil and Gas industry average.
X
Value checks
We assess BP Midstream Partners's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Oil and Gas industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Oil and Gas industry average (and greater than 0)? (1 check)
  5. BP Midstream Partners has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is BP Midstream Partners expected to perform in the next 1 to 3 years based on estimates from 4 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
7.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is BP Midstream Partners expected to grow at an attractive rate?
  • BP Midstream Partners's earnings growth is expected to exceed the low risk savings rate of -0.4%.
Growth vs Market Checks
  • BP Midstream Partners's earnings growth is positive but not above the Germany market average.
  • BP Midstream Partners's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:301 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:301 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 4 Analysts 7.1%
DB:301 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 4 Analysts 2.5%
Europe Oil and Gas Industry Earnings Growth Rate Market Cap Weighted Average 13%
Europe Oil and Gas Industry Revenue Growth Rate Market Cap Weighted Average 2.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 14.3%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:301 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:301 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 131 289 204 2
2021-12-31 142 232 182 4
2020-12-31 126 200 164 3
2020-03-31
DB:301 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-12-31 128 189 165
2019-09-30 122 183 156
2019-06-30 120 173 146
2019-03-31 120 169 139
2018-12-31 116 174 133
2018-09-30 115 168 82
2018-06-30 110 137 58
2018-03-31 108 100 40
2017-12-31 108 69 22
2017-09-30 102 42 44
2017-06-30 98 45 43
2017-03-31 102 48 45

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • BP Midstream Partners's earnings are expected to grow by 7.1% yearly, however this is not considered high growth (20% yearly).
  • BP Midstream Partners's revenue is expected to grow by 2.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:301 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (3 months ago) See Below
Future Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below

All data from BP Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:301 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 1.76 1.86 1.65 2.00
2021-12-31 1.56 1.73 1.39 4.00
2020-12-31 1.55 1.68 1.41 4.00
2020-03-31
DB:301 Past Financials Data
Date (Data in USD Millions) EPS *
2019-12-31 1.58
2019-09-30 1.49
2019-06-30 1.39
2019-03-31 1.33
2018-12-31 1.27
2018-09-30 0.78
2018-06-30 0.55
2018-03-31 0.38
2017-12-31 0.21
2017-09-30 0.42
2017-06-30
2017-03-31

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • BP Midstream Partners is expected to make outstanding use of shareholders’ funds in the future (Return on Equity greater than 40%).
X
Future performance checks
We assess BP Midstream Partners's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
BP Midstream Partners has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has BP Midstream Partners performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare BP Midstream Partners's growth in the last year to its industry (Oil and Gas).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • BP Midstream Partners has delivered over 20% year on year earnings growth in the past 5 years.
  • BP Midstream Partners's 1-year earnings growth is less than its 5-year average (24.3% vs 45.4%)
  • BP Midstream Partners's earnings growth has exceeded the Europe Oil and Gas industry average in the past year (24.3% vs -4.1%).
Earnings and Revenue History
BP Midstream Partners's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from BP Midstream Partners Company Filings, last reported 3 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:301 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-12-31 128.47 165.38 17.09
2019-09-30 122.21 155.72 18.03
2019-06-30 119.73 145.93 19.31
2019-03-31 120.06 139.47 19.01
2018-12-31 116.44 133.06 18.88
2018-09-30 115.24 81.78 17.44
2018-06-30 110.18 58.11 13.36
2018-03-31 108.13 40.02 10.43
2017-12-31 108.15 21.78 7.73
2017-09-30 102.01 44.29 6.49
2017-06-30 98.34 42.56 7.00
2017-03-31 101.64 45.10 7.65
2016-12-31 103.00 45.87 8.27
2015-12-31 106.78 46.74 8.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Whilst BP Midstream Partners made outstanding use of shareholders’ funds last year (Return on Equity greater than 40%), this is metric is skewed due to its high level of debt.
  • BP Midstream Partners used its assets more efficiently than the Europe Oil and Gas industry average last year based on Return on Assets.
  • BP Midstream Partners's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess BP Midstream Partners's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Oil and Gas industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
BP Midstream Partners has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is BP Midstream Partners's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up BP Midstream Partners's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • BP Midstream Partners is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • BP Midstream Partners's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of BP Midstream Partners's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is not covered by short term assets, assets are 0.3x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from BP Midstream Partners Company Filings, last reported 3 months ago.

DB:301 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-12-31 240.23 468.00 98.83
2019-09-30 229.52 468.00 92.41
2019-06-30 218.64 468.00 75.40
2019-03-31 215.36 468.00 60.81
2018-12-31 210.85 468.00 56.97
2018-09-30 586.79 0.00 49.35
2018-06-30 583.51 0.00 40.53
2018-03-31 585.00 15.00 46.88
2017-12-31 580.86 15.00 32.69
2017-09-30 78.15 0.00
2017-06-30 80.11 0.00
2017-03-31 76.82 0.00
2016-12-31 73.94 0.00
2015-12-31 74.26 0.00
  • BP Midstream Partners's level of debt (194.8%) compared to net worth is high (greater than 40%).
  • Unable to establish if BP Midstream Partners's debt level has increased without past 5-year debt data.
  • Debt is well covered by operating cash flow (40.5%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.7x coverage).
X
Financial health checks
We assess BP Midstream Partners's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. BP Midstream Partners has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is BP Midstream Partners's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
16.85%
Current annual income from BP Midstream Partners dividends. Estimated to be 18.75% next year.
If you bought €2,000 of BP Midstream Partners shares you are expected to receive €337 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • BP Midstream Partners's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.7%).
  • BP Midstream Partners's dividend is above the markets top 25% of dividend payers in Germany (4.97%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:301 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 4 Analyst Estimates (S&P Global) See Below
Europe Oil and Gas Industry Average Dividend Yield Market Cap Weighted Average of 68 Stocks 9.1%
Germany Market Average Dividend Yield Market Cap Weighted Average of 323 Stocks 3.9%
Germany Minimum Threshold Dividend Yield 10th Percentile 1%
Germany Bottom 25% Dividend Yield 25th Percentile 1.7%
Germany Top 25% Dividend Yield 75th Percentile 5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:301 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.63 3.00
2021-12-31 1.56 5.00
2020-12-31 1.45 3.00
2020-03-31
DB:301 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2020-02-27 1.390 15.063
2019-11-12 1.342 8.945
2019-08-08 1.295 8.852
2019-05-09 1.250 8.188
2019-02-28 1.206 8.143
2018-11-14 1.166 7.137
2018-08-09 1.090 5.744
2018-04-17 1.070 5.189
2018-01-17 1.050 5.457

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Whilst dividend payments have been stable, BP Midstream Partners has been paying a dividend for less than 10 years.
  • Dividend payments have increased, but BP Midstream Partners only paid a dividend in the past 2 years.
Current Payout to shareholders
What portion of BP Midstream Partners's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.2x coverage).
Future Payout to shareholders
  • Dividends after 3 years are not well covered by earnings (1.1x coverage).
X
Income/ dividend checks
We assess BP Midstream Partners's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can BP Midstream Partners afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. BP Midstream Partners has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of BP Midstream Partners's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Robert Zinsmeister
COMPENSATION $0
AGE 61
TENURE AS CEO 2.4 years
CEO Bio

Mr. Robert P. Zinsmeister has been Chief Executive Officer and Director of BP Midstream Partners GP LLC, the General Partner of BP Midstream Partners LP since September 2017. Since January 2012, Mr. Zinsmeister served as Chief Operating Officer of BP’s Global M&A organization. Mr. Zinsmeister has 21 years of M&A experience and prior to his current role, his titles and responsibilities included M&A Director Downstream, Corporate, Chemicals and M&A Project Manager in BP’s Global M&A organization. Mr. Zinsmeister served in a variety of management positions within the BP organization, including Commercial Manager and Engineering Manager of an Upstream business unit and a variety of engineering roles in corporate, division and field operations. Mr. Zinsmeister is a member of the Advisory Board of Buckthorn Partners, a private equity investment firm investing exclusively in oil field service businesses, as well as a member of the advisory board of the M&A Research Centre at Cass Business School, City University of London. In his career Mr. Zinsmeister has personally negotiated three US pipeline transactions and has overseen all Downstream M&A, including pipelines and midstream, since 2006. Mr. Zinsmeister has extensive experience in M&A in the energy industry and managerial experience within the BP organization. Mr. Zinsmeister earned a Bachelor of Science in Petroleum and Natural Gas Engineering from Pennsylvania State University and an MBA in finance emphasis from the University of Chicago.

CEO Compensation
  • Insufficient data for Robert to compare compensation growth.
  • Insufficient data for Robert to establish whether their remuneration is reasonable compared to companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the BP Midstream Partners management team in years:

2.4
Average Tenure
55
Average Age
  • The tenure for the BP Midstream Partners management team is about average.
Management Team

Robert Zinsmeister

TITLE
CEO & Director of BP Midstream Partners GP LLC
AGE
61
TENURE
2.4 yrs

Craig Coburn

TITLE
CFO & Director of BP Midstream Partners GP LLC
AGE
55
TENURE
2.4 yrs

Gerald Maret

TITLE
Chief Operating Officer of BP Midstream Partners GP LLC
AGE
61
TENURE
2.4 yrs

Hans Boas

TITLE
Chief Legal Counsel & Secretary of BP Midstream Partners GP LLC
AGE
54
TENURE
2.4 yrs

Derek Rush

TITLE
Chief Development Officer of BP Midstream Partners GP LLC
AGE
47
TENURE
0.6 yrs

Brian Sullivan

TITLE
Vice President
Board of Directors Tenure

Average tenure and age of the BP Midstream Partners board of directors in years:

2.4
Average Tenure
60
Average Age
  • The average tenure for the BP Midstream Partners board of directors is less than 3 years, this suggests a new board.
Board of Directors

Doug Sparkman

TITLE
Chairman of BP Midstream Partners GP LLC
AGE
61
TENURE
2.4 yrs

Robert Zinsmeister

TITLE
CEO & Director of BP Midstream Partners GP LLC
AGE
61
TENURE
2.4 yrs

Craig Coburn

TITLE
CFO & Director of BP Midstream Partners GP LLC
AGE
55
TENURE
2.4 yrs

Bob Malone

TITLE
Independent Director of BP Midstream Partners GP LLC
COMPENSATION
$189K
AGE
67
TENURE
2.3 yrs

Clive Christison

TITLE
Director of BP MIDSTREAM PARTNERS GP LLC
AGE
48
TENURE
2.4 yrs

Walter Clements

TITLE
Independent Director of BP Midstream Partners GP LLC
COMPENSATION
$174K
AGE
59
TENURE
2.4 yrs

Brian Smith

TITLE
Director of BP Midstream Partners GP LLC
AGE
52
TENURE
2.4 yrs

Michele Joy

TITLE
Independent Director of BP Midstream Partners GP LLC
COMPENSATION
$155K
AGE
64
TENURE
1.8 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
X
Management checks
We assess BP Midstream Partners's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. BP Midstream Partners has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

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. The company was founded in 2017 and is based in Houston, Texas. BP Midstream Partners LP is a subsidiary of BP Pipelines (North America), Inc.

Details
Name: BP Midstream Partners LP
301
Exchange: DB
Founded: 2017
$783,398,817
104,763,275
Website: http://www.bp.com/en/global/bp-midstream-partners.html
Address: BP Midstream Partners LP
501 Westlake Park Boulevard,
Houston,
Texas, 77079,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NYSE BPMP Common Units New York Stock Exchange US USD 26. Oct 2017
DB 301 Common Units Deutsche Boerse AG DE EUR 26. Oct 2017
Number of employees
Current staff
Staff numbers
0
BP Midstream Partners employees.
Industry
Oil and Gas Storage and Transportation
Energy
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2020/03/31 00:01
End of day share price update: 2020/03/30 00:00
Last estimates confirmation: 2020/03/30
Last earnings filing: 2020/02/27
Last earnings reported: 2019/12/31
Last annual earnings reported: 2019/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.