Blueknight Energy Partners L.P., L.L.C. (BKEP) Sets New 12-Month Low at $5.55

Shares of Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $5.55 and last traded at $5.55, with a volume of 116,872 shares changing hands. The stock had previously closed at $5.65.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Blueknight Energy Partners L.P., L.L.C. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 10th. ValuEngine downgraded shares of Blueknight Energy Partners L.P., L.L.C. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st.

The company’s market capitalization is $215.73 million. The firm has a 50 day moving average price of $5.99 and a 200-day moving average price of $6.67.

Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) last issued its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.03. The company had revenue of $43.88 million for the quarter, compared to the consensus estimate of $46.56 million. Blueknight Energy Partners L.P., L.L.C. had a negative return on equity of 12.45% and a net margin of 12.71%. On average, analysts expect that Blueknight Energy Partners L.P., L.L.C. will post $0.04 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Friday, August 4th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 10.27%. The ex-dividend date of this dividend is Wednesday, August 2nd. Blueknight Energy Partners L.P., L.L.C.’s dividend payout ratio is currently -446.15%.

In other Blueknight Energy Partners L.P., L.L.C. news, CFO Alex G. Stallings sold 8,000 shares of Blueknight Energy Partners L.P., L.L.C. stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $5.60, for a total value of $44,800.00. Following the transaction, the chief financial officer now directly owns 165,224 shares of the company’s stock, valued at approximately $925,254.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert Howard Lampton purchased 34,785 shares of the company’s stock in a transaction on Thursday, June 8th. The stock was acquired at an average cost of $6.64 per share, for a total transaction of $230,972.40. Following the completion of the transaction, the director now owns 85,585 shares in the company, valued at $568,284.40. The disclosure for this purchase can be found here. Over the last ninety days, insiders acquired 61,665 shares of company stock worth $410,253. Company insiders own 1.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC boosted its stake in Blueknight Energy Partners L.P., L.L.C. by 0.9% in the second quarter. Neuberger Berman Group LLC now owns 6,332,153 shares of the pipeline company’s stock worth $39,576,000 after buying an additional 59,381 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in Blueknight Energy Partners L.P., L.L.C. by 151.1% in the second quarter. Prescott Group Capital Management L.L.C. now owns 452,002 shares of the pipeline company’s stock worth $2,825,000 after buying an additional 272,000 shares in the last quarter. Bank of America Corp DE boosted its stake in Blueknight Energy Partners L.P., L.L.C. by 18.8% in the first quarter. Bank of America Corp DE now owns 1,372,606 shares of the pipeline company’s stock worth $9,265,000 after buying an additional 217,615 shares in the last quarter. Renaissance Technologies LLC boosted its stake in Blueknight Energy Partners L.P., L.L.C. by 22.9% in the first quarter. Renaissance Technologies LLC now owns 132,094 shares of the pipeline company’s stock worth $892,000 after buying an additional 24,655 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its stake in Blueknight Energy Partners L.P., L.L.C. by 15.9% in the first quarter. OppenheimerFunds Inc. now owns 2,034,054 shares of the pipeline company’s stock worth $13,730,000 after buying an additional 278,680 shares in the last quarter. 59.71% of the stock is currently owned by institutional investors.

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About Blueknight Energy Partners L.P., L.L.C.

Blueknight Energy Partners, L.P. is a master limited partnership company. The Company manages its operations through four segments: asphalt terminaling services, crude oil terminaling and storage services, crude oil pipeline services, and crude oil trucking and producer field services. Asphalt terminaling services segment operations generally consist of fee based activities associated with providing storage, terminaling and throughput services for asphalt product and residual fuel oil.

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