Blueknight Energy Partners LP (NASDAQ:BKEP) hit a new 52-week low on Tuesday . The company traded as low as $2.30 and last traded at $2.37, with a volume of 12716 shares. The stock had previously closed at $2.35.
BKEP has been the subject of a number of recent research reports. Stephens set a $4.00 price objective on shares of Blueknight Energy Partners and gave the stock a “buy” rating in a report on Tuesday, August 7th. SunTrust Banks set a $3.00 price objective on shares of Blueknight Energy Partners and gave the stock a “buy” rating in a report on Sunday, August 5th. TheStreet lowered shares of Blueknight Energy Partners from a “c-” rating to a “d+” rating in a report on Thursday, May 31st. ValuEngine upgraded shares of Blueknight Energy Partners from a “sell” rating to a “hold” rating in a report on Friday, June 1st. Finally, Wells Fargo & Co lowered their price objective on shares of Blueknight Energy Partners from $7.00 to $3.00 and set a “market perform” rating for the company in a report on Monday, June 11th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $4.35.
The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of -1.31.
Blueknight Energy Partners (NASDAQ:BKEP) last announced its quarterly earnings data on Wednesday, August 1st. The pipeline company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by ($0.03). Blueknight Energy Partners had a negative return on equity of 4.82% and a net margin of 4.51%. The business had revenue of $83.49 million during the quarter, compared to the consensus estimate of $44.86 million. analysts anticipate that Blueknight Energy Partners LP will post -0.2 earnings per share for the current fiscal year.
In other news, CEO Mark A. Hurley purchased 20,394 shares of the stock in a transaction that occurred on Friday, September 14th. The stock was bought at an average cost of $2.45 per share, for a total transaction of $49,965.30. Following the acquisition, the chief executive officer now directly owns 453,066 shares of the company’s stock, valued at approximately $1,110,011.70. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Prescott Group Capital Management L.L.C. raised its holdings 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 valued at $3,496,000 after buying an additional 257,963 shares during the last quarter. OppenheimerFunds Inc. raised its holdings in Blueknight Energy Partners by 2.6% during the 1st quarter. OppenheimerFunds Inc. now owns 2,068,854 shares of the pipeline company’s stock valued at $8,792,000 after buying an additional 51,900 shares during the last quarter. Zazove Associates LLC bought a new stake in Blueknight Energy Partners during the 2nd quarter valued at $1,145,000. Finally, Summit Trail Advisors LLC raised its holdings in Blueknight Energy Partners by 285.0% during the 1st quarter. Summit Trail Advisors LLC now owns 116,983 shares of the pipeline company’s stock valued at $117,000 after buying an additional 86,599 shares during the last quarter. Institutional investors own 47.14% of the company’s stock.
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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