BP Midstream Partners LP (BPMP) is a fee-based MLP formed by BP Pipelines (which is an indirect wholly-owned subsidiary of BP (BP)), to own, operate, develop and acquire pipelines and other midstream assets. BPMP went public in late 2017. Since then, it has paid higher quarterly dividends each quarter. The stock is significantly undervalued. I estimate it's worth 23% more than today's price.
Right now, BPMP stock has a generous 9.80% dividend yield, based on its latest quarterly dividend hike. In fact, the dividend has been raised 3.6% for the past 5 quarters