Blueknight Energy Partners (NASDAQ:BKEP) Rating Increased to Hold at ValuEngine

Blueknight Energy Partners (NASDAQ:BKEP) was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, ValuEngine reports.

Separately, Zacks Investment Research downgraded Blueknight Energy Partners from a “buy” rating to a “hold” rating in a research note on Friday, July 26th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $2.38.

BKEP stock traded up $0.03 during midday trading on Thursday, reaching $1.26. The company had a trading volume of 104,149 shares, compared to its average volume of 173,240. The stock’s 50 day moving average price is $1.25. Blueknight Energy Partners has a fifty-two week low of $1.00 and a fifty-two week high of $3.00. The stock has a market cap of $51.31 million, a price-to-earnings ratio of -4.34 and a beta of 1.82.

Blueknight Energy Partners (NASDAQ:BKEP) last issued its earnings results on Wednesday, May 8th. The pipeline company reported ($0.06) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.04. Blueknight Energy Partners had a negative return on equity of 3.90% and a negative net margin of 9.85%. The company had revenue of $93.73 million during the quarter. On average, equities analysts forecast that Blueknight Energy Partners will post -0.1 EPS for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in shares of Blueknight Energy Partners by 115.6% during the fourth quarter. Geode Capital Management LLC now owns 52,800 shares of the pipeline company’s stock valued at $60,000 after buying an additional 28,310 shares during the last quarter. Deutsche Bank AG bought a new stake in shares of Blueknight Energy Partners during the fourth quarter valued at approximately $312,000. Finally, Zazove Associates LLC raised its holdings in shares of Blueknight Energy Partners by 13.6% during the second quarter. Zazove Associates LLC now owns 2,190,979 shares of the pipeline company’s stock valued at $2,542,000 after buying an additional 261,582 shares during the last quarter. 17.25% of the stock is currently owned by institutional investors.

About Blueknight Energy Partners

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 operates through four segments: Asphalt Terminalling Services, Crude Oil Terminalling Services, Crude Oil Pipeline Services, and Crude Oil Trucking Services.

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