Blueknight Energy Partners L.P., L.L.C. (BKEP) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) from a hold rating to a sell rating in a research report report published on Tuesday, August 1st.

Separately, Zacks Investment Research upgraded shares of Blueknight Energy Partners L.P., L.L.C. from a strong sell rating to a hold rating in a research note on Wednesday, May 10th.

Blueknight Energy Partners L.P., L.L.C. (NASDAQ BKEP) traded down 0.91% during midday trading on Tuesday, reaching $5.45. The company had a trading volume of 69,056 shares. The stock’s 50 day moving average price is $5.86 and its 200-day moving average price is $6.60. Blueknight Energy Partners L.P., L.L.C. has a one year low of $5.30 and a one year high of $7.55. The firm’s market capitalization is $208.10 million.

Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) last announced its quarterly earnings results on Tuesday, August 1st. The pipeline company reported $0.00 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.03. Blueknight Energy Partners L.P., L.L.C. had a net margin of 12.71% and a negative return on equity of 12.45%. The business had revenue of $43.88 million for the quarter, compared to analyst estimates of $46.56 million. On average, equities research analysts anticipate that Blueknight Energy Partners L.P., L.L.C. will post $0.03 earnings per share for the current year.

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The firm also recently announced a quarterly dividend, which was paid on Monday, August 14th. Shareholders of record on Friday, August 4th were given a dividend of $0.145 per share. The ex-dividend date was Wednesday, August 2nd. This represents a $0.58 dividend on an annualized basis and a dividend yield of 10.64%. Blueknight Energy Partners L.P., L.L.C.’s payout ratio is presently -446.15%.

In other Blueknight Energy Partners L.P., L.L.C. news, CFO Alex G. Stallings sold 8,000 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $5.60, for a total transaction of $44,800.00. Following the transaction, the chief financial officer now owns 165,224 shares in the company, valued at approximately $925,254.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director William Walter Lampton bought 9,300 shares of the firm’s stock in a transaction on Wednesday, June 14th. The shares were acquired at an average price of $6.65 per share, for a total transaction of $61,845.00. Following the transaction, the director now owns 65,350 shares in the company, valued at $434,577.50. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 61,665 shares of company stock worth $410,253. Company insiders own 1.70% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of Blueknight Energy Partners L.P., L.L.C. during the fourth quarter worth about $736,000. Hancock Holding Co. acquired a new position in shares of Blueknight Energy Partners L.P., L.L.C. during the first quarter worth about $173,000. Independent Advisor Alliance raised its position in shares of Blueknight Energy Partners L.P., L.L.C. by 278.0% in the first quarter. Independent Advisor Alliance now owns 56,700 shares of the pipeline company’s stock worth $386,000 after buying an additional 41,700 shares during the last quarter. Prescott Group Capital Management L.L.C. increased its stake in shares of 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 during the period. Finally, Neuberger Berman Group LLC increased its stake in shares of Blueknight Energy Partners L.P., L.L.C. by 7.3% in the first quarter. Neuberger Berman Group LLC now owns 6,272,772 shares of the pipeline company’s stock worth $42,341,000 after buying an additional 425,609 shares during the period. Hedge funds and other institutional investors own 59.82% of the company’s stock.

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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