Blueknight Energy Partners L.P., L.L.C. (BKEP) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) from a sell rating to a hold rating in a report published on Thursday morning.

According to Zacks, “Blueknight Energy Partners, L.P., based in Tulsa, Oklahoma, owns and operates a diversified portfolio of complementary midstream energy assets. It provides midstream services to its customers by focusing in three operational areas: crude oil terminalling and storage, crude oil gathering and transportation services and asphalt terminalling, storage and processing services. The Company’s strategically located storage facilities, terminals and pipelines provide customers the flexibility to access multiple receipt and delivery points. Its vision is to use its strategically located assets to be a leading provider of midstream services in the energy industry. It intends to accomplish its objective by: pursuing both strategic and accretive acquisitions within the midstream energy industry, pursuing organic expansion opportunities by constructing additional assets in strategic locations, and expanding storage capacity, particularly at its Cushing terminal, and increasing the profitability of its existing assets. “

BKEP has been the topic of a number of other reports. ValuEngine downgraded shares of Blueknight Energy Partners L.P., L.L.C. from a hold rating to a sell rating in a research note on Tuesday, August 1st. SunTrust Banks, Inc. set a $8.00 price objective on shares of Blueknight Energy Partners L.P., L.L.C. and gave the company a buy rating in a report on Tuesday, October 31st.

Shares of Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) opened at $5.45 on Thursday. Blueknight Energy Partners L.P., L.L.C. has a 52 week low of $5.30 and a 52 week high of $7.55. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of -1.22.

Blueknight Energy Partners L.P., L.L.C. (NASDAQ:BKEP) last released its quarterly earnings results on Tuesday, October 31st. The pipeline company reported $0.08 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.08). The company had revenue of $47.47 million during the quarter, compared to analysts’ expectations of $52.01 million. Blueknight Energy Partners L.P., L.L.C. had a net margin of 11.78% and a negative return on equity of 10.32%. equities research analysts expect that Blueknight Energy Partners L.P., L.L.C. will post 0.05 EPS for the current year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 14th. Investors of record on Friday, November 3rd will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 10.64%. The ex-dividend date of this dividend is Thursday, November 2nd. Blueknight Energy Partners L.P., L.L.C.’s dividend payout ratio (DPR) is currently -322.20%.

In other Blueknight Energy Partners L.P., L.L.C. news, Director William Walter Lampton acquired 8,903 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was purchased at an average price of $5.78 per share, for a total transaction of $51,459.34. Following the completion of the acquisition, the director now owns 98,775 shares of the company’s stock, valued at approximately $570,919.50. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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, November 7th. The shares were sold at an average price of $5.60, for a total transaction of $44,800.00. Following the completion of the transaction, the chief financial officer now owns 157,224 shares of the company’s stock, valued at approximately $880,454.40. The disclosure for this sale can be found here. Insiders purchased 18,000 shares of company stock valued at $102,462 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its holdings in shares of 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 valued at $892,000 after purchasing an additional 24,655 shares in the last quarter. Neuberger Berman Group LLC grew its holdings in shares of 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 valued at $39,576,000 after purchasing an additional 59,381 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of 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 valued at $9,265,000 after purchasing an additional 217,615 shares in the last quarter. Finally, Prescott Group Capital Management L.L.C. grew its holdings 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 valued at $2,825,000 after purchasing an additional 272,000 shares in the last quarter. Hedge funds and other institutional investors own 57.42% of the company’s stock.

Blueknight Energy Partners L.P., L.L.C. Company Profile

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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