Blueknight Energy Partners (BKEP) Hits New 12-Month Low at $1.65

Shares of Blueknight Energy Partners LP (NASDAQ:BKEP) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $1.65 and last traded at $1.68, with a volume of 2442 shares changing hands. The stock had previously closed at $1.73.

A number of analysts recently issued reports on BKEP shares. Stephens set a $4.00 target price on Blueknight Energy Partners and gave the company a “buy” rating in a research report on Tuesday, August 7th. Zacks Investment Research cut Blueknight Energy Partners from a “hold” rating to a “strong sell” rating in a research report on Thursday, August 16th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $3.70.

The stock has a market cap of $69.07 million, a PE ratio of -19.00 and a beta of 0.36.

Blueknight Energy Partners (NASDAQ:BKEP) last announced its earnings results on Wednesday, October 31st. The pipeline company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.11). The firm had revenue of $133.16 million during the quarter, compared to analyst estimates of $52.92 million. Blueknight Energy Partners had a net margin of 0.83% and a negative return on equity of 2.01%. As a group, research analysts predict that Blueknight Energy Partners LP will post -0.39 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Investors of record on Friday, November 2nd were given a $0.08 dividend. The ex-dividend date was Thursday, November 1st. This represents a $0.32 dividend on an annualized basis and a dividend yield of 18.71%. Blueknight Energy Partners’s dividend payout ratio (DPR) is presently -355.56%.

In other news, CEO Mark A. Hurley bought 20,394 shares of the firm’s stock in a transaction that occurred on Friday, September 14th. The stock was purchased at an average cost of $2.45 per share, with a total value of $49,965.30. Following the transaction, the chief executive officer now directly owns 453,066 shares in the company, valued at $1,110,011.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.70% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Zazove Associates LLC acquired a new stake in Blueknight Energy Partners during the 2nd quarter worth approximately $1,145,000. Prescott Group Capital Management L.L.C. lifted its position in Blueknight Energy Partners by 33.5% during the 2nd quarter. Prescott Group Capital Management L.L.C. now owns 1,028,150 shares of the pipeline company’s stock worth $3,496,000 after acquiring an additional 257,963 shares during the period. Finally, OppenheimerFunds Inc. lifted its position in Blueknight Energy Partners by 4.9% during the 2nd quarter. OppenheimerFunds Inc. now owns 2,171,111 shares of the pipeline company’s stock worth $7,382,000 after acquiring an additional 102,257 shares during the period. 32.42% of the stock is owned by institutional investors.

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Blueknight Energy Partners Company Profile (NASDAQ:BKEP)

Blueknight Energy Partners, L.P. provides integrated terminalling, gathering, and transportation services for companies engaged in the production, distribution, and marketing of liquid asphalt and crude oil products in the United States. The company's Asphalt Terminalling Services segment offers asphalt terminalling services, including storage, blending, processing, and throughput services for asphalt product and residual fuel oil.

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